Recruiter.com amends debt terms, lowers warrant exercise price to $0.38

Nixxy, Inc.

Interest-only payments on $3M Novo Note from Nov 2022 through Mar 2023; principal payments resume Apr 2023.
Montage loan covenant deadlines extended to Apr 1, 2023 for key person insurance and account control agreements.
Warrant exercise price reduced to $0.38 per share; cashless exercise restrictions modified for certain holders.
Price reduction triggers automatic adjustment for other outstanding warrants from 2020-2022 to $0.38 per share.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Nixxy, Inc. amended Warrant Amendments with Cavalry Fund I LP, Firstfire Global Opportunities Fund LLC, Porter Partners, L.P. valued at modify cashless exercise time period and lower exercise price to $0.38 per share (effective 2023-02-03).

Action: amendment
Agreement: equity purchase
Counterparty: Cavalry Fund I LP, Firstfire Global Opportunities Fund LLC, Porter Partners, L.P.
Value: modify cashless exercise time period and lower exercise price to $0.38 per share
Effective: 2023-02-03

Exact text from the filing

On February 3, 2023, the Company entered into amendments (the “Warrant Amendments”) to Common Stock Purchase Warrants issued on August 17, 2022 (the “Warrants”) to each of Cavalry Fund I LP, Firstfire Global Opportunities Fund LLC, and Porter Partners, L.P. (the “Warrantholders”).

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Nixxy, Inc. amended First Amendment to Loan and Security Agreement with Montage Capital II, L.P. valued at provides additional time to meet post-closing covenants (effective 2022-12-18).

Action: amendment
Agreement: credit facility
Counterparty: Montage Capital II, L.P.
Value: provides additional time to meet post-closing covenants
Effective: 2022-12-18

Exact text from the filing

On February 2, 2023, the Company entered into a First Amendment to Loan and Security Agreement (the “Montage Amendment”), by and between the Company, its subsidiaries (Recruiter.com, Inc., Recruiter.com Recruiting Solutions, LLC, Recruiter.com Consulting, LLC, VocaWorks, Inc., Recruiter.com Scouted, Inc., Recruiter.com Upsider, Inc., and Recruiter.com - OneWire, Inc.), and Montage, effective as December 18, 2022.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Nixxy, Inc. amended Consent and Amendment No. 1 to Promissory Note with Novo Group, Inc. valued at amends Novo Note payment schedule (effective 2022-11-01).

Action: amendment
Agreement: credit facility
Counterparty: Novo Group, Inc.
Value: amends Novo Note payment schedule
Effective: 2022-11-01

Exact text from the filing

On February 2, 2023, Recruiter.com Group, Inc. (the “Company”) entered into a Consent and Amendment No. 1 to Promissory Note with Novo Group, Inc. (“Novo”) and Montage Capital II, L.P. (solely with respect to Section 2 thereof) (“Montage”) effective November 1, 2022 (the “Novo Amendment”).

View on SEC.gov

33 material agreements filed in the last 30 days. Browse all material agreements →

Nixxy, Inc. filing history →

Source: SEC EDGAR

accession 0001654954-23-001479

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.