secwatch.observer — SEC 8-K summary
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Issuer:     Appgate, Inc. (—)
CIK:        0001353538
Form:       8-K
Filed at:   2023-07-25T23:59:59+00:00
Accession:  0001628280-23-025581
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 3.02, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Appgate issues $2.5M convertible notes at 9.5%; potential $27.5M additional
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- Issued $2.5M aggregate principal of convertible notes due 2026 to Appgate Funding, LLC.
- Interest rate 9.50% payable in cash or PIK; no cash interest before July 20, 2024.
- Purchaser may purchase up to $27.5M additional notes on or before July 20, 2025.
- Covenants include minimum liquidity of $5.0M per quarter; restrictions on debt, liens, dividends.
- Plan amendment excludes Manuel D. Medina and affiliates from triggering Change of Control.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1353538/000162828023025581/0001628280-23-025581-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1353538/000162828023025581/apgt-20230720.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-025581

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