MITEK SYSTEMS INC (MITK): debt financing — Mitek borrows $50M under term loan facility to fund convertible note maturity

MITEK SYSTEMS INC

Borrowed $50M on Jan 21, 2026 under delayed draw term loan from Silicon Valley Bank.
Proceeds to provide liquidity ahead of 0.750% Convertible Senior Notes due Feb 1, 2026.
Loan bears variable rate: term SOFR or WSJ prime plus margin, adjusted by net leverage.
Loan is under existing Credit Agreement dated Feb 2024, as amended May 2025.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

MITEK SYSTEMS INC incurred term loan of $50,000,000 with Silicon Valley Bank, a division of First-Citizens Bank & Trust Company at term SOFR plus a specified margin or WSJ prime plus a specified margin.

Instrument: term loan
Principal: $50,000,000
Counterparty: Silicon Valley Bank, a division of First-Citizens Bank & Trust Company
Rate: term SOFR plus a specified margin or WSJ prime plus a specified margin
Event: incurrence

Exact text from the filing

On January 21, 2026, Mitek Systems, Inc. (the “Company”) borrowed $50,000,000 under its delayed draw term loan facility established under that certain Loan and Security Agreement, dated February 13, 2024, by and among the Company, A2iA Corp., ID R&D, Inc. and Silicon Valley Bank, a division of First-Citizens Bank & Trust Company, as amended by that certain First Amendment to Loan and Security Agreement, dated May 7, 2025 (collectively, the “Credit Agreement”).

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Source: SEC EDGAR

accession 0001628280-26-003124

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