---
schema_version: "secwatch.filing_event.v1"
accession: "0001720420-25-000004"
form_type: "8-K"
ticker: "IBEX"
cik: "0001720420"
company_name: "IBEX Ltd"
filed_at: "2025-01-13T23:59:59+00:00"
generated_at: "2026-05-28T03:37:37.850096+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# IBEX pays off $25M convertible note from TRGI share repurchase using HSBC credit lines

## Summary
- On Jan 9, 2025, IBEX paid in full the $25M convertible promissory note issued to TRGI on Nov 19, 2024.
- The Seller Note was terminated following payment, eliminating potential dilution from conversion.
- Payment funded through drawings on HSBC credit lines (HSBC Bank USA and HSBC Bank ME).
- The original share repurchase on Nov 19, 2024 was 3,562,341 shares for $70M ($45M cash + $25M note).

## SEC filing metadata
- accession: 0001720420-25-000004
- form_type: 8-K
- ticker: IBEX
- cik: 0001720420
- company_name: IBEX Ltd
- filed_at: 2025-01-13T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 7.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1720420/000172042025000004/0001720420-25-000004-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1720420/000172042025000004/ibex-20250109.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001720420-25-000004
- JSON: https://secwatch.observer/filing/0001720420-25-000004.json
- Plain text: https://secwatch.observer/filing/0001720420-25-000004.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.