Anghami Sells $20M Convertible Note
Ticker: ANGHW · Form: 6-K · Filed: Feb 7, 2025 · CIK: 1871983
| Field | Detail |
|---|---|
| Company | Anghami Inc (ANGHW) |
| Form Type | 6-K |
| Filed Date | Feb 7, 2025 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 4 min |
| Key Dollar Amounts | $20,000,000, $12,000,000, $23,000,000, $0.0001, $2 |
| Sentiment | neutral |
Sentiment: neutral
Topics: financing, convertible-note, debt
TL;DR
Anghami just sold another $20M convertible note, funded by the Dec 16th deal.
AI Summary
On February 7, 2025, Anghami Inc. announced the sale of a $20,000,000 senior unsecured convertible note, referred to as the "Second Note." This transaction is made under the previously disclosed Convertible Note Purchase Agreement dated December 16, 2024.
Why It Matters
This financing event provides Anghami with additional capital, which could be used for operational expansion or strategic initiatives, impacting its growth trajectory.
Risk Assessment
Risk Level: medium — Convertible notes can dilute existing shareholders if converted, and the company's reliance on debt financing may indicate financial pressures.
Key Numbers
- $20.0M — Convertible Note Sale (Represents new capital raised by Anghami Inc. under the Second Note.)
Key Players & Entities
- Anghami Inc. (company) — The company announcing the convertible note sale.
- $20,000,000 (dollar_amount) — The principal amount of the senior unsecured convertible note sold.
- Second Note (document) — The designation for the $20,000,000 convertible note.
- Convertible Note Purchase Agreement (document) — The agreement under which the Second Note was sold.
- December 16, 2024 (date) — The date of the Convertible Note Purchase Agreement.
- February 7, 2025 (date) — The date of the announcement of the Second Note sale.
FAQ
What is the principal amount of the convertible note sold by Anghami Inc. on February 7, 2025?
Anghami Inc. announced the sale of a senior unsecured convertible note in the amount of $20,000,000.
What is the name given to the convertible note sold on February 7, 2025?
The convertible note sold on February 7, 2025, is referred to as the "Second Note."
Under which agreement was the Second Note sold?
The Second Note was sold pursuant to the previously reported Convertible Note Purchase Agreement.
What is the date of the Convertible Note Purchase Agreement?
The Convertible Note Purchase Agreement is dated December 16, 2024.
Is the Second Note secured?
No, the Second Note is described as a senior unsecured convertible note.
Filing Stats: 1,100 words · 4 min read · ~4 pages · Grade level 13.4 · Accepted 2025-02-07 16:00:29
Key Financial Figures
- $20,000,000 — cured convertible note in the amount of $20,000,000 (the “ Second Note ”) pursu
- $12,000,000 — cured convertible note in the amount of $12,000,000 (the “ Initial Note ”) to O
- $23,000,000 — te principal amount up to an additional $23,000,000 (the “ Additional Notes ”)
- $0.0001 — thereon into ordinary shares, par value $0.0001 per share (the “ Ordinary Shares
- $2 — per share conversion price equal to (i) $2.50, if such conversion occurs before th
- $3 — y of the Initial Funding Date, or (iii) $3.00, if such conversion occurs on or aft
- $3.00 — t a per share conversion price equal to $3.00 on the Maturity Date (subject to adjust
- $20.0 m — capital and receivable financing up to $20.0 million, plus, under certain circumstance
- $55.0 million — n circumstances, the difference between $55.0 million and the aggregate principal amounts of
Filing Documents
- ea0230234-6k_anghami.htm (6-K) — 20KB
- ea023023401ex99-2_anghami.htm (EX-99.2) — 183KB
- 0001213900-25-011292.txt ( ) — 204KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereto duly authorized. ANGHAMI INC. Date: February 7, 2025 By: /s/ Elias Habib Name: Elias Habib Title: Chief Executive Officer 3