secwatch.observer — SEC 8-K summary
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Issuer:     KonaTel, Inc. (KTEL)
CIK:        0000845819
Form:       8-K/A
Filed at:   2023-06-07T23:59:59+00:00
Accession:  0001515971-23-000087
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/845819/000151597123000087/0001515971-23-000087-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/845819/000151597123000087/ktel8ka060523.htm
  HTML page:      https://secwatch.observer/filing/0001515971-23-000087

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer