Cognyte Secures $30M Credit Facility with Bank Hapoalim, Totaling $65M

TL;DR

**Cognyte just locked in a new $30M credit line with Bank Hapoalim, bringing its total available credit to $65M.**

AI Summary

Cognyte Software Ltd. (CGNT) secured a new credit facility agreement with Bank Hapoalim B.M. on January 24, 2024, replacing an expiring one. This new facility, available until January 31, 2026, provides $30 million, a reduction from the previous $50 million. Combined with a separate $35 million facility from Bank Leumi Le-Israel B.M., Cognyte now has a total credit line of $65 million. This matters to investors because it ensures the company has continued access to capital for its financial priorities, even with a slightly reduced individual facility, demonstrating ongoing bank support.

Why It Matters

This filing confirms Cognyte's continued access to capital, which is crucial for its operations and growth, even as it adjusts its credit line amounts.

Risk Assessment

Risk Level: low — The company successfully renewed a credit facility, ensuring continued access to capital, which reduces financial uncertainty.

Analyst Insight

Investors should note that while the individual credit facility with Bank Hapoalim B.M. was reduced from $50 million to $30 million, the company still maintains a robust total credit line of $65 million, indicating continued financial flexibility. This suggests stability in its access to capital, which is a positive sign for ongoing operations.

Key Numbers

• $30 million — New Credit Facility Amount (The revised available amount from Bank Hapoalim B.M. for Cognyte.)
• $65 million — Total Aggregate Credit Line (The combined credit available to Cognyte from Bank Hapoalim B.M. and Bank Leumi Le-Israel B.M.)
• January 31, 2026 — New Credit Facility Expiration (The date until which the new credit facility with Bank Hapoalim B.M. is extended.)

Key Players & Entities

• Cognyte Software Ltd. (company) — the registrant entering into the credit facility agreement
• Bank Hapoalim B.M. (company) — the bank providing the new credit facility
• Bank Leumi Le-Israel B.M. (company) — the bank providing an additional credit facility
• $30 million (dollar_amount) — the revised available amount under the new credit facility with Bank Hapoalim B.M.
• $50 million (dollar_amount) — the previous available amount under the credit facility with Bank Hapoalim B.M.
• $65 million (dollar_amount) — the aggregate credit line available to the Company from both banks
• January 24, 2024 (date) — the date Cognyte entered into the new credit facility agreement
• January 31, 2024 (date) — the scheduled expiration date of the previous credit facility
• January 31, 2026 (date) — the expiration date of the new credit facility with Bank Hapoalim B.M.

FAQ

Key Financial Figures

• $30 million — the Credit Facility will be revised to $30 million from the previous $50 million. As of th
• $50 million — evised to $30 million from the previous $50 million. As of this date, there are no outstand
• $65 m — ompany with an aggregate credit line of $65 million, accessible to the Company until

Filing Documents

• cgnt6-kcreditfacilityhapoa.htm (6-K) — 20KB
• creditfacilitydated24janua.htm (EX-99.1) — 110KB
• amendeddeedofundertaking24.htm (EX-99.1A) — 142KB
• 0001824814-24-000007.txt ( ) — 274KB

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, thereunto duly authorized. COGNYTE SOFTWARE LTD. (Registrant) January 25, 2024 By s David Abadi David Abadi Chief Financial Officer

View Full Filing

View this 6-K filing on SEC EDGAR