{"schema_version":"secwatch.filing_event.v1","accession":"0001628280-23-022222","form_type":"8-K","ticker":null,"cik":"0001353538","company_name":"Appgate, Inc.","filed_at":"2023-06-15T23:59:59+00:00","discovered_at":"2026-05-14T18:03:38.539675+00:00","generated_at":"2026-06-13T23:55:13.554172+00:00","sec_items":["1.01","2.03","3.02","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"Appgate amends convertible notes, extends maturity to 2026, raises interest to 8.0%","bullets":["Maturity extended from Feb 2024 to Feb 2026 (or Feb 2028 at Magnetar's election).","Interest rate increased to 8.00% cash / 8.50% PIK (from 5.0%/5.5%).","Conversion rate raised to 527.17 shares per $1,000 principal (contingent to 585.75 if 2023 bookings under $15M).","New liquidity covenant: maintain at least $5.0M at end of each fiscal quarter.","Lenders committed to purchase up to $15M additional notes by June 2025."],"urls":{"canonical":"https://secwatch.observer/filing/0001628280-23-022222","json":"https://secwatch.observer/filing/0001628280-23-022222.json","markdown":"https://secwatch.observer/filing/0001628280-23-022222.md","text":"https://secwatch.observer/filing/0001628280-23-022222.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1353538/000162828023022222/0001628280-23-022222-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1353538/000162828023022222/apgt-20230609.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-13T23:55:13.554172+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"0f74e8fc6df200f35792535162545272eb437b00","claim":"Appgate, Inc. amended revolving credit of $50.0 million with SIS Holdings, L.P. maturing August 9, 2026, or, if Magnetar elects to extend the maturity date of the Notes to February 9, 2028, to August 9, 2028.","evidence_excerpt":"Original Revolving Credit Agreement ”), with Appgate and the Domestic Subsidiary Guarantors, as guarantors, and SIS Holdings, L.P., as lender (“ SIS Holdings ”), providing for a $50.0 million unsecured, revolving credit facility maturing on June 30, 2023. On June 9, 2023, Appgate, Legacy Appgate, the Domestic Subsidiary Guarantors and SIS Holdings entered into an","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1353538/000162828023022222/0001628280-23-022222-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"revolving credit"},{"label":"Principal","value":"$50.0 million"},{"label":"Counterparty","value":"SIS Holdings, L.P."},{"label":"Maturity","value":"August 9, 2026, or, if Magnetar elects to extend the maturity date of the Notes to February 9, 2028, to August 9, 2028"},{"label":"Event","value":"amendment"}],"fact_type":"debt_financing"},{"claim_id":"42533da65ae7f1aa16f6fbfc95ff9055b323ff33","claim":"Appgate, Inc. amended convertible notes with Magnetar Financial LLC at 8.00% if paid in cash or 8.50% if paid in kind maturing February 9, 2026, or, at Magnetar’s election, February 9, 2028.","evidence_excerpt":"On June 9, 2023, Appgate, Legacy Appgate, the Domestic Subsidiary Guarantors, Easy Solutions Japan, GK (“ ES Japan ”), Easy Solutions S.A.S. (“ ES Colombia ” and, collectively with the Domestic Subsidiary Guarantors, Appgate and ES Japan, the “ Note Guarantors ”), Magnetar, and U.S. Bank Trust Company, National Association, as collateral agent (in such capacity, the “ Collateral Agent ”), entered into an amended and restated note issuance agreement (the “ A&R Note Issuance Agreement ”), pursuant to which the Original Note Issuance Agreement was amended and restated to (i) secure the obligations under the Notes and the other related agreements with a first priority security interest in substantially all assets of Legacy Appgate and the Note Guarantors, (ii) extend the maturity date of the Notes from February 9, 2024 to February 9, 2026, or, at Magnetar’s election, February 9, 2028, (iii) modify the financial covenant contained in the Original Note Issuance Agreement to provide that Appg","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1353538/000162828023022222/0001628280-23-022222-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"convertible notes"},{"label":"Counterparty","value":"Magnetar Financial LLC"},{"label":"Rate","value":"8.00% if paid in cash or 8.50% if paid in kind"},{"label":"Maturity","value":"February 9, 2026, or, at Magnetar’s election, February 9, 2028"},{"label":"Event","value":"amendment"}],"fact_type":"debt_financing"},{"claim_id":"1ec3a9f1ad64d10d3aa3bc93c966ef827df9902f","claim":"Appgate, Inc. amended A&R Note Issuance Agreement with Magnetar Financial LLC (effective 2023-06-09).","evidence_excerpt":"On June 9, 2023, Appgate, Legacy Appgate, the Domestic Subsidiary Guarantors, Easy Solutions Japan, GK (“ ES Japan ”), Easy Solutions S.A.S. (“ ES Colombia ” and, collectively with the Domestic Subsidiary Guarantors, Appgate and ES Japan, the “ Note Guarantors ”), Magnetar, and U.S. Bank Trust Company, National Association, as collateral agent (in such capacity, the “ Collateral Agent ”), entered into an amended and restated note issuance agreement (the “ A&R Note Issuance Agreement ”), pursuant to which the Original Note Issuance Agreement was amended and restated","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1353538/000162828023022222/0001628280-23-022222-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"notes offering"},{"label":"Counterparty","value":"Magnetar Financial LLC"},{"label":"Effective","value":"2023-06-09"}],"fact_type":"material_agreement"},{"claim_id":"67fe676084e061552487b773668da317b4c508ae","claim":"Appgate, Inc. entered into Intercreditor Agreement with U.S. Bank Trust Company, National Association and SIS Holdings, L.P. (effective 2023-06-09).","evidence_excerpt":"On June 9, 2023, the Collateral Agent, as original senior agent, SIS Holdings, as original subordinated agent, Appgate, Legacy Appgate and the Note Guarantors entered into an intercreditor and subordination agreement (the “ Intercreditor Agreement ”), setting forth the relative rights of the Collateral Agent and the other secured parties under the Notes, on the one hand, and SIS Holdings under the A&R Revolving Credit Agreement, on the other hand, including their respective security interests in the collateral.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1353538/000162828023022222/0001628280-23-022222-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"U.S. Bank Trust Company, National Association and SIS Holdings, L.P."},{"label":"Effective","value":"2023-06-09"}],"fact_type":"material_agreement"},{"claim_id":"6e3b69ae8c04bd9a087dd6c7970a73dc7f28b1ed","claim":"Appgate, Inc. amended A&R Note Purchase Agreement with Magnetar Financial LLC valued at $15.0 million (effective 2023-06-09).","evidence_excerpt":"Additionally on June 9, 2023, Appgate, Legacy Appgate, and the Lenders entered into an amended and restated note purchase agreement (the “ A&R Note Purchase Agreement ”), pursuant to which the Original Note Purchase Agreement was amended and restated to (i) provide for the purchase by the Lenders of up to $15.0 million aggregate principal amount of additional Notes in one or more subsequent closings on or prior to June 9, 2025 and (ii) amend all previously issued Notes to reflect terms consistent with the A&R Note Issuance Agreement.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1353538/000162828023022222/0001628280-23-022222-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"notes offering"},{"label":"Counterparty","value":"Magnetar Financial LLC"},{"label":"Value","value":"$15.0 million"},{"label":"Effective","value":"2023-06-09"}],"fact_type":"material_agreement"},{"claim_id":"bc77d32cdad6f7b5f66035f082595fdf7e6dbe14","claim":"Appgate, Inc. amended A&R Revolving Credit Agreement with SIS Holdings, L.P. (effective 2023-06-09).","evidence_excerpt":"On June 9, 2023, Appgate, Legacy Appgate, the Domestic Subsidiary Guarantors and SIS Holdings entered into an amended and restated revolving credit agreement (the “ A&R Revolving Credit Agreement ”), pursuant to which the Original Revolving Credit Agreement was amended and restated","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1353538/000162828023022222/0001628280-23-022222-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"SIS Holdings, L.P."},{"label":"Effective","value":"2023-06-09"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}