secwatch.observer — SEC 8-K summary
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Issuer:     Evolv Technologies Holdings, Inc. (EVLV)
CIK:        0001805385
Form:       8-K
Filed at:   2023-04-03T23:59:59+00:00
Accession:  0001628280-23-010402
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.02, 2.04, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Evolv repays $29.3M SVB loan, triggers default; Delaware court validates charter amendment
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- Repaid $29.3M principal, $0.2M interest, and 1% prepayment fee on 2022 SVB Credit Agreement; agreement terminated.
- Transfer of cash out of First Citizens triggered an event of default; First Citizens did not accelerate obligations.
- Company holds substantially all cash outside First Citizens; deposits exceeded FDIC insurance limit prior to transfer.
- Delaware Court of Chancery validated charter amendment increasing Class A shares from 45M to 1.1B and eliminating Class B.
- Court validated 142,260,102 shares of Class A common stock issued in connection with the merger, effective retroactively to July 16, 2021.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1805385/000162828023010402/0001628280-23-010402-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1805385/000162828023010402/nhic-20230328.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-010402

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