secwatch.observer — SEC 8-K summary
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Issuer:     IBEX Ltd (IBEX)
CIK:        0001720420
Form:       8-K
Filed at:   2025-01-13T23:59:59+00:00
Accession:  0001720420-25-000004
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 7.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1720420/000172042025000004/0001720420-25-000004-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1720420/000172042025000004/ibex-20250109.htm
  HTML page:      https://secwatch.observer/filing/0001720420-25-000004

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