Inseego Corp. Files 8-K for Financial Disclosures
Ticker: INSG · Form: 8-K · Filed: Sep 11, 2024 · CIK: 1022652
| Field | Detail |
|---|---|
| Company | Inseego CORP. (INSG) |
| Form Type | 8-K |
| Filed Date | Sep 11, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.001, $9.5 million, $5 million, $4.25 million, $13.77 |
| Sentiment | neutral |
Sentiment: neutral
Topics: financial-disclosure, regulation-fd, exhibits
TL;DR
Inseego filed an 8-K for financial statements/exhibits. No major news.
AI Summary
On September 11, 2024, Inseego Corp. filed an 8-K report to disclose information under Regulation FD. The filing primarily concerns financial statements and exhibits, with no specific material events or transactions detailed in the provided text.
Why It Matters
This filing indicates Inseego Corp. is providing updated financial information or exhibits to the SEC, which could be relevant for investors assessing the company's financial health.
Risk Assessment
Risk Level: low — The filing is a routine disclosure of financial statements and exhibits, not indicating any immediate adverse events.
Key Players & Entities
- INSEEGO CORP. (company) — Registrant
- September 11, 2024 (date) — Date of earliest event reported
- Delaware (jurisdiction) — State of incorporation
- 001-38358 (identifier) — Commission File Number
- 81-3377646 (identifier) — IRS Employer Identification No.
- 9710 Scranton Road, Suite 200 San Diego, California 92121 (address) — Principal executive offices
- 858-812-3400 (phone_number) — Registrant's telephone number
FAQ
What is the primary purpose of this 8-K filing by Inseego Corp.?
The primary purpose of this 8-K filing is to report information under Regulation FD and to provide financial statements and exhibits.
On what date was the earliest event reported in this filing?
The earliest event reported in this filing was on September 11, 2024.
In which state is Inseego Corp. incorporated?
Inseego Corp. is incorporated in Delaware.
What is the address of Inseego Corp.'s principal executive offices?
The address of Inseego Corp.'s principal executive offices is 9710 Scranton Road, Suite 200, San Diego, California 92121.
Does this filing report any specific material events or transactions?
Based on the provided text, this filing is primarily for Regulation FD disclosure and financial statements/exhibits, and does not detail specific material events or transactions.
Filing Stats: 920 words · 4 min read · ~3 pages · Grade level 11.6 · Accepted 2024-09-11 16:05:09
Key Financial Figures
- $0.001 — ch registered Common Stock, par value $0.001 per share INSG Nasdaq Global Select
- $9.5 million — has voluntarily prepaid an aggregate of $9.5 million of the Company's obligations under the
- $5 million — "Exchange Term Sheet") with a holder of $5 million in principal amount of the Company's ou
- $4.25 million — e Notes that it currently holds for (i) $4.25 million in principal amount of new long-term se
- $13.77 — price of the Exchange Warrants will be $13.77. The Exchange Term Sheet expires on Dec
- $147 million — epurchase and/or exchange approximately $147 million or 91% of face value of the outstanding
Filing Documents
- inseego_8k.htm (8-K) — 34KB
- inseego_ex9901.htm (EX-99.1) — 16KB
- image_001.jpg (GRAPHIC) — 1KB
- image_001.gif (GRAPHIC) — 0KB
- 0001683168-24-006304.txt ( ) — 231KB
- insg-20240911.xsd (EX-101.SCH) — 3KB
- insg-20240911_lab.xml (EX-101.LAB) — 33KB
- insg-20240911_pre.xml (EX-101.PRE) — 24KB
- inseego_8k_htm.xml (XML) — 4KB
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. On September 11, 2024, Inseego Corp. (the "Company") issued a press release regarding the matters described below. A copy of the press release is attached to this Current Report on Form 8-K as Exhibit 99.1. Prepayments Under Loan Agreement The Company announced that, to date, the Company has voluntarily prepaid an aggregate of $9.5 million of the Company's obligations under the Loan and Security Agreement, dated June 28, 2024 (the "Loan Agreement"), among the Company, South Ocean Funding, LLC ("South Ocean"), certain participant lenders (the "Participating Lenders") and certain subsidiaries of the Company, which Loan Agreement was previously described in the Current Report on Form 8-K filed by the Company on July 1, 2024. As previously disclosed, affiliates of South Ocean and North Sound Ventures, LP, one of the Participating Lenders, may be deemed to beneficially own more than 5% of the Company's outstanding Common Stock, and Philip Brace, the Company's Executive Chairman, is the other Participating Lender. James B. Avery, a member of the Company's Board of Directors, currently serves as Senior Managing Director of Tavistock Group, an affiliate of Lender. Exchange Term Sheet The Company also announced that it had entered into a binding exchange term sheet (the "Exchange Term Sheet") with a holder of $5 million in principal amount of the Company's outstanding 3.25% convertible notes due 2025 (the "2025 Convertible Notes"). Pursuant to the Exchange Term Sheet, the holder agreed to exchange the 2025 Convertible Notes that it currently holds for (i) $4.25 million in principal amount of new long-term senior secured notes (the "New Notes"), and (ii) warrants (the "Exchange Warrants") to purchase an aggregate of 370,000 shares of the Company's common stock, par value $0.001 per share ("Common Stock"). The New Notes and the Exchange Warrants to be issued pursuant to the Exchange Term Sheet will be the same as the new long-term se
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. The following Exhibits are filed with this report: 99.1 Press release dated September 11, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 2 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized. INSEEGO CORP. Date: September 11, 2024 By: /s/ Steven Gatoff Name: Steven Gatoff Title: Chief Financial Officer 3