---
schema_version: "secwatch.filing_event.v1"
accession: "0001929589-24-000013"
form_type: "8-K"
ticker: null
cik: "0001929589"
company_name: "MariaDB plc"
filed_at: "2024-02-06T23:59:59+00:00"
generated_at: "2026-06-06T08:35:36.489659+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# MariaDB defaults on $26.5M note, enters forbearance with RP Ventures through Feb 21

## Summary
- Default on $26.5M senior secured promissory note due Jan 31, 2024; interest at default rate (12%).
- Forbearance agreement with lender RP Ventures; forbearance period ends Feb 21, 2024.
- Company pays $100K forbearance fee; restricted from soliciting alternative transactions during period.
- Board formed Special Committee (Jurgen Ingels, Paul O'Brien) on Jan 19 to evaluate restructuring.
- No assurance of restructuring; lender may accelerate obligations after forbearance.

## SEC filing metadata
- accession: 0001929589-24-000013
- form_type: 8-K
- cik: 0001929589
- company_name: MariaDB plc
- filed_at: 2024-02-06T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 2.04, 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1929589/000192958924000013/0001929589-24-000013-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1929589/000192958924000013/mrdb-20240119.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001929589-24-000013
- JSON: https://secwatch.observer/filing/0001929589-24-000013.json
- Plain text: https://secwatch.observer/filing/0001929589-24-000013.txt

## Key facts
- Debt Financings
  MariaDB plc reported a default on senior notes of $26,500,000 with RP Ventures LLC at default rate of 2% above the otherwise-applicable non-default interest rate of 1 maturing January 31, 2024.
  - Instrument: senior notes
  - Principal: $26,500,000
  - Counterparty: RP Ventures LLC
  - Rate: default rate of 2% above the otherwise-applicable non-default interest rate of 1
  - Maturity: January 31, 2024
  - Event: default
  source text: note, dated as of October 10, 2023 and amended on January 10, 2024, issued by MariaDB plc (the “ Company ”) to RP Ventures LLC (“ RP Ventures ”) in the principal amount of $26,500,000 (the “ RP Note ”) matured. The Company did not pay the outstanding principal, interest, and other applicable fees or charges due and payable on the RP Note. In addition, the
  evidence_url: https://www.sec.gov/Archives/edgar/data/1929589/000192958924000013/0001929589-24-000013-index.htm

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