secwatch.observer — SEC 8-K summary
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Issuer:     Appgate, Inc. (—)
CIK:        0001353538
Form:       8-K
Filed at:   2024-01-18T23:59:59+00:00
Accession:  0001628280-24-001662
Event type: debt
Sentiment:  negative
Materiality: 0.65
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Appgate amends note agreement; lender gets budget veto; issues $4M in additional notes
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- Magnetar obtains sole discretion to approve cash spending budget for Appgate and subsidiaries.
- Lenders purchased $4.0M of Additional Notes on Jan 11, 2024 under existing A&R Note Purchase Agreement.
- Amendment restricts cash management; company must comply with Magnetar-approved budget.
- $4M note issuance is unregistered, relying on Section 4(a)(2) exemption; notes convertible to common stock.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1353538/000162828024001662/0001628280-24-001662-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1353538/000162828024001662/apgt-20240111.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-001662

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