KonaTel amends note purchase agreement, adds up to $2M delayed draw notes, draws $500K

KonaTel, Inc.

First Amendment to NPA with CCUR Holdings and Symbolic Logic allows up to $2M in delayed draw notes in $500K increments.
Company exercised first draw of $500K on June 1, 2023; interest rate increased by 3% (now 18% per annum).
Origination fee of 3% per draw; additional collateral assigned from Insight Mobile contract rights.
Company also exercised second optional six-month extension of original $3.15M loan, paying $47,250 extension fee.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

KonaTel, Inc. amended First Amendment to the NPA with CCUR Holdings, Inc. and Symbolic Logic, Inc. valued at up to $2,000,000 (effective 2023-06-01).

Action: amendment
Agreement: notes offering
Counterparty: CCUR Holdings, Inc. and Symbolic Logic, Inc.
Value: up to $2,000,000
Effective: 2023-06-01

Exact text from the filing

nder the First Amendment to the NPA of $500,000. Notable items associated with the First Amendment to NPA are the following: ● Delayed

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KonaTel, Inc. filing history →

Source: SEC EDGAR

accession 0001515971-23-000087

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