INSEEGO CORP. (NASDAQ:INSG) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.
Supplemental Indenture
On March 3, 2020, the Company, and Wilmington Trust, National Association, a national banking association, as trustee (Trustee), also entered into a first supplemental indenture (the Supplemental Indenture), supplementing the indenture, dated as of January 9, 2017 (the Original Indenture), which Original Indenture governs the 5.50% Convertible Senior Notes due 2022 issued by the Company (the Notes). The Supplemental Indenture amends the Original Indenture to delete certain covenants prohibiting the incurrence of certain indebtedness and certain restricted payments.
The foregoing description of the Supplemental Indenture does not purport to be complete and is qualified in its entirety by reference to the copy of the Supplemental Indenture that is filed as an exhibit to this Current Report on Form 8-K.
Put Right Waivers
On March 6, 2020, the Company entered into Waiver Agreements with the holders of substantially all of the outstanding indebtedness under the Notes, to which each of the holders agreed to waive their optional right to require the Company to repurchase the Notes on June 15, 2020. As a result, substantially all of the Notes are no longer subject to repayment at the option of the holders prior to the maturity date in 2022.
The foregoing description of the Waiver Agreements does not purport to be complete and is qualified in its entirety by reference to the copy of the form of Waiver Agreement that is filed as an exhibit to this Current Report on Form 8-K.
Item 3.03 Material Modifications to the Rights of Security Holders.
The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated into this Item 3.03 by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
10.1 | First Supplemental Indenture, dated March 3, 2020, among Inseego Corp. and Wilmington Trust, National Association, as Trustee. | |
10.2 | Form of Waiver Agreement between Inseego Corp. and holders of Inseego Corp. 5.50% Convertible Senior Notes due 2022. |