Appgate, Inc.: debt financing — Appgate issues additional $999K in 9.5% convertible notes due 2026

Appgate, Inc.

Issued $999,000 aggregate principal of Additional Convertible Notes to Appgate Funding LLC on Oct 11, 2023.
Total Convertible Notes outstanding now $6.499 million; interest rate 9.50% payable in cash or PIK.
Notes mature May 9, 2026 (extendable to 2028); convertible at 585.7496 shares per $1,000 principal.
Obligations secured by second-priority lien on substantially all assets of Legacy Appgate and guarantors.
Offered and sold as unregistered securities under Section 4(a)(2) to an accredited investor.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Appgate, Inc. incurred convertible notes of $999,000 aggregate principal amount with Appgate Funding, LLC at 9.50% maturing May 9, 2026.

Instrument: convertible notes
Principal: $999,000 aggregate principal amount
Counterparty: Appgate Funding, LLC
Rate: 9.50%
Maturity: May 9, 2026
Event: incurrence

Exact text from the filing

On October 11, 2023, Legacy Appgate issued and sold to the Purchaser an additional $999,000 aggregate principal amount of Additional Convertible Notes.

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Source: SEC EDGAR

accession 0001628280-23-034511

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