secwatch.observer — SEC 8-K summary
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Issuer:     Rubicon Technologies, Inc. (—)
CIK:        0001862068
Form:       8-K
Filed at:   2023-06-08T23:59:59+00:00
Accession:  0001829126-23-003991
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Rubicon enters $75M Term Loan, $90M ABL facility; extends convertible debentures to 2026
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- $75M Term Loan (Acquiom, June 2023); matures June 2025 (can extend to 2026); interest = reference rate + 8.75% margin; lenders can convert to common stock (limited to 19.99% of shares or $10M).
- $90M ABL revolving credit facility (Midcap); SOFR + 4.25% (stepdown to 3.95% if FCCR >1.10); 3-year maturity.
- Subordinated term loan amendment (Mizzen): cash interest cut from 14% to 11%; adds liquidity covenant; broadens borrower group; allows PIK interest.
- First & Second Closing convertible debenture amendments extend maturity to Dec 1, 2026; aggregate principal ~$17M (first) and ~$6.5M (second).
- Warrants issued to Term Loan lenders: 15,699,867 shares at $0.01 exercise price, expiring June 7, 2033.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1862068/000182912623003991/0001829126-23-003991-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1862068/000182912623003991/rubicontech_8k.htm
  HTML page:      https://secwatch.observer/filing/0001829126-23-003991

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