Appgate, Inc.: debt financing — Appgate issues additional $500K convertible notes; cumulative $7.0M

Appgate, Inc.

On Oct 19, 2023, issued $500,000 in convertible notes at 9.50% interest, maturity May 9, 2026.
Total convertible notes issued to date under facility: $6.999 million.
Notes convertible into common stock at 585.7496 shares per $1,000 principal.
Purchaser has right to purchase up to additional $27.5M in notes until July 20, 2025.
Interest payable in cash (after July 2024) or PIK; cash interest prohibited before July 20, 2024.

item 2.03 item 1.01 item 3.02

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 $500,000 with Appgate Funding, LLC at 9.50% maturing May 9, 2026.

Instrument: convertible notes
Principal: $500,000
Counterparty: Appgate Funding, LLC
Rate: 9.50%
Maturity: May 9, 2026
Event: incurrence

Exact text from the filing

On October 19, 2023, Legacy Appgate issued and sold to the Purchaser an additional $500,000 aggregate principal amount of Additional Convertible Notes.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.4

Appgate, Inc. entered into Note Issuance Agreement with Purchaser.

Action: entry
Agreement: notes offering
Counterparty: Purchaser

Exact text from the filing

The information contained in Item 1.01 of the Prior 8-K with respect to the Note Issuance Agreement, the Note Purchase Agreement and the Convertible Notes is incorporated by reference in this

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Source: SEC EDGAR

accession 0001628280-23-034806

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