SVB Credit Agreement
TermLoan · Evolv Technologies Holdings, Inc.
Reference: SVB Credit Agreement
- Original principal
- USD 30,000,000
- Outstanding
- —
- Commitment
- —
- Availability
- —
- Maturity
- —
Covenant terms for this agreement are not yet verified.
Documents and filing history
- Issuance · 8-K · 2022-12-21 — FORM 8-K
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Issuance
· 2022-12-21
Original principal USD 30,000,000 Exact source document
Parent 8-K filing · 2022-12-21
On December 21, 2022 (the “***Closing Date***”), Evolv Technologies Holdings, Inc. (the “***Company***”) entered into a Loan and Security Agreement (the “***SVB Credit Agreement***”) by and among the Company, Evolv Technologies, Inc., a wholly-owned subsidiary of the Company, and Silicon Valley Bank, a California corporation (“***SVB***”), as the lender. The SVB Credit Agreement provides for, on the Closing Date, an initial term loan advance in an original principal amount equal to $30 million, with the opportunity to obtain, within 18 months after the Closing Date, additional term loan advances, subject to satisfaction of certain conditions, in an aggregate principal amount equal to $20 million (subject to an increase of $25 million, upon satisfaction of certain conditions and approval from SVB), in each case, in order to finance hardware shipped to customer locations (collectively, the “***Term Loans***”). Each advance of Term Loans will mature on the 36-month anniversary of the extension thereof.
Issuer evidence: On December 21, 2022 (the “***Closing Date***”), Evolv Technologies Holdings, Inc. (the “***Company***”) entered into a Loan and Security Agreement (the “***SVB Credit Agreement***”) by and among the Company, Evolv Technologies, Inc., a wholly-owned subsidiary of the Company, and Silicon Valley Bank, a California corporation (“***SVB***”), as the lender. The SVB Credit Agreement provides for, on the Closing Date, an initial term loan advance in an original principal amount equal to $30 million, with the opportunity to obtain, within 18 months after the Closing Date, additional term loan advances, subject to satisfaction of certain conditions, in an aggregate principal amount equal to $20 million (subject to an increase of $25 million, upon satisfaction of certain conditions and approval from SVB), in each case, in order to finance hardware shipped to customer locations (collectively, the “***Term Loans***”). Each advance of Term Loans will mature on the 36-month anniversary of the extension thereof.