secwatch.observer — SEC 8-K summary
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Issuer:     Appgate, Inc. (—)
CIK:        0001353538
Form:       8-K
Filed at:   2023-06-15T23:59:59+00:00
Accession:  0001628280-23-022222
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Appgate amends convertible notes, extends maturity to 2026, raises interest to 8.0%
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1353538/000162828023022222/0001628280-23-022222-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1353538/000162828023022222/apgt-20230609.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-022222

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