---
schema_version: "secwatch.filing_event.v1"
accession: "0001477932-24-000772"
form_type: "8-K"
ticker: null
cik: "0001906133"
company_name: "iCoreConnect Inc."
filed_at: "2024-02-16T23:59:59+00:00"
generated_at: "2026-06-06T00:26:37.546690+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# iCoreConnect issues $473,743 convertible note, enters forbearance with lender

## Summary
- Issued 12% convertible note of $473,743 due June 1, 2024, converting at 100% of Dec 29 close, subject to shareholder approval.
- Entered Forbearance Agreement with senior secured lender; agreed to $300,000 payment and default rate interest increase.
- As part of forbearance, lender waived covenants and interest-only payments through July 2024; company must report weekly metrics.
- Terminated Purchase Agreement with Arena Business Solutions, effective Feb 15, 2024, with no penalties.

## SEC filing metadata
- accession: 0001477932-24-000772
- form_type: 8-K
- cik: 0001906133
- company_name: iCoreConnect Inc.
- filed_at: 2024-02-16T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1906133/000147793224000772/0001477932-24-000772-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1906133/000147793224000772/icct_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001477932-24-000772
- JSON: https://secwatch.observer/filing/0001477932-24-000772.json
- Plain text: https://secwatch.observer/filing/0001477932-24-000772.txt

## Key facts
- Debt Financings
  iCoreConnect Inc. incurred convertible notes of $473,743 with an investor at 12% per annum maturing June 1, 2024.
  - Instrument: convertible notes
  - Principal: $473,743
  - Counterparty: an investor
  - Rate: 12% per annum
  - Maturity: June 1, 2024
  - Event: incurrence
  source text: On February 9, 2024, the Company issued a convertible note entered into a securities purchase agreement with an investor with an effective date of December 29, 2023, pursuant to which the Company in principal amount of $473,743 in exchange for the conversion of a payable in the amount of $473,743.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1906133/000147793224000772/0001477932-24-000772-index.htm
- Material Agreements
  iCoreConnect Inc. entered into securities purchase agreement with an investor (effective 2023-12-29).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: an investor
  - Effective: 2023-12-29
  source text: On February 9, 2024, the Company issued a convertible note entered into a securities purchase agreement with an investor with an effective date of December 29, 2023, pursuant to which the Company in principal amount of $473,743 in exchange for the conversion of a payable in the amount of $473,743.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1906133/000147793224000772/0001477932-24-000772-index.htm
- Material Agreements
  iCoreConnect Inc. terminated Purchase Agreement with Arena Business Solutions Global SPC II, Ltd. on behalf of and for the account of Segregated Portfolio #8 – SPC #8 ("Arena") (effective 2024-02-14).
  - Action: termination
  - Counterparty: Arena Business Solutions Global SPC II, Ltd. on behalf of and for the account of Segregated Portfolio #8 – SPC #8 ("Arena")
  - Effective: 2024-02-14
  source text: On February 14, 2024, the Company provided termination notification to Arena Business Solutions Global SPC II, Ltd. on behalf of and for the account of Segregated Portfolio #8 – SPC #8 (“Arena”) for the Purchase Agreement entered into by the parties on September 12, 2023 with an effective date of February 15, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1906133/000147793224000772/0001477932-24-000772-index.htm
- Material Agreements
  iCoreConnect Inc. entered into Forbearance Agreement with its senior secured lender (effective 2024-02-12).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: its senior secured lender
  - Effective: 2024-02-12
  source text: On February 12, 2024, the Company entered into a Forbearance Agreement with its senior secured lender whereby the Company agreed to make $300,000 payment to cure certain defaults under the original Loan Agreement.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1906133/000147793224000772/0001477932-24-000772-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.