---
schema_version: "secwatch.filing_event.v1"
accession: "0001515971-24-000017"
form_type: "8-K"
ticker: "KTEL"
cik: "0000845819"
company_name: "KonaTel, Inc."
filed_at: "2024-01-30T23:59:59+00:00"
generated_at: "2026-06-06T15:31:53.536373+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# KonaTel sells IM Telecom membership interest to Excess Telecom for $10M; $5M earnout tied to ACP renewal

## Summary
- Initial sale of 49% interest for $10M; net proceeds of ~$3.55M after debt payoff and holdback.
- KonaTel uses proceeds to repay CCUR Loan (~$3.65M principal + interest) and ACP Financing (~$1.46M).
- Second closing of remaining 51% for $100 subject to FCC approval; KonaTel retains majority until then.
- ACP Renewal Earnout: additional $5M if Congress renews ACP for >4 months by Dec 31, 2024.
- KonaTel enters Management, Distribution, and Operating Agreements to continue brand and service.

## SEC filing metadata
- accession: 0001515971-24-000017
- form_type: 8-K
- ticker: KTEL
- cik: 0000845819
- company_name: KonaTel, Inc.
- filed_at: 2024-01-30T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/845819/000151597124000017/0001515971-24-000017-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/845819/000151597124000017/ktel8k011824.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001515971-24-000017
- JSON: https://secwatch.observer/filing/0001515971-24-000017.json
- Plain text: https://secwatch.observer/filing/0001515971-24-000017.txt

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