---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-22-030296"
form_type: "8-K"
ticker: "AIOT"
cik: "0001774170"
company_name: "Powerfleet, Inc."
filed_at: "2022-11-03T23:59:59+00:00"
generated_at: "2026-06-22T09:37:46.415845+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Powerfleet subsidiary Pointer Telocation secures $10M revolving credit facility from Bank Hapoalim

## Summary
- $10M new revolving credit facility (Facility D) for wholly owned subsidiary Pointer Telocation.
- Facility renewable monthly through Oct 2023; SOFR+2.59% interest adjustable with 14-day notice.
- Secured by pledge over Pointer's new bank account and cross-guarantee by Powerfleet Israel; no parent assets pledged.
- 0.5% per annum fee on undrawn amounts; proceeds for general corporate and working capital.

## SEC filing metadata
- accession: 0001493152-22-030296
- form_type: 8-K
- ticker: AIOT
- cik: 0001774170
- company_name: Powerfleet, Inc.
- filed_at: 2022-11-03T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1774170/000149315222030296/0001493152-22-030296-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1774170/000149315222030296/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-22-030296
- JSON: https://secwatch.observer/filing/0001493152-22-030296.json
- Plain text: https://secwatch.observer/filing/0001493152-22-030296.txt

## Key facts
- Debt Financings
  Powerfleet, Inc. incurred revolving credit of $10 million with Bank Hapoalim B.M. at Secured Overnight Financing Rate plus 2.59% maturing October 30, 2023.
  - Instrument: revolving credit
  - Principal: $10 million
  - Counterparty: Bank Hapoalim B.M.
  - Rate: Secured Overnight Financing Rate plus 2.59%
  - Maturity: October 30, 2023
  - Event: incurrence
  source text: The Amendment provides for, among other things, a new revolving credit facility to Pointer in the aggregate principal amount of $10 million (the “New Revolver”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1774170/000149315222030296/0001493152-22-030296-index.htm
- Material Agreements
  Powerfleet, Inc. amended Credit Agreement with Bank Hapoalim B.M. valued at $10 million (effective 2022-10-31).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Bank Hapoalim B.M.
  - Value: $10 million
  - Effective: 2022-10-31
  source text: On October 31, 2022, Powerfleet Israel Ltd. (“Powerfleet Israel”) and Pointer Telocation Ltd. (“Pointer” and, together with Powerfleet Israel, the “Borrowers”), each a wholly owned subsidiary of PowerFleet, Inc. (the “Company”), entered into a third amendment (the “Amendment”) to the Credit Agreement, dated as of August 19, 2019, by and among the Borrowers and Bank Hapoalim B.M. (“Hapoalim”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1774170/000149315222030296/0001493152-22-030296-index.htm

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