Lesaka Technologies Secures New Loan Facility
Ticker: LSAK · Form: 8-K · Filed: Dec 10, 2024 · CIK: 1041514
| Field | Detail |
|---|---|
| Company | Lesaka Technologies INC (LSAK) |
| Form Type | 8-K |
| Filed Date | Dec 10, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $1 |
| Sentiment | neutral |
Sentiment: neutral
Topics: debt-financing, material-definitive-agreement
TL;DR
Lesaka just inked a new loan deal, adding debt to the books.
AI Summary
On December 10, 2024, Lesaka Technologies, Inc. entered into a material definitive agreement, specifically a loan facility agreement. This agreement creates a direct financial obligation for the registrant, indicating new debt financing for the company.
Why It Matters
This filing indicates Lesaka Technologies has secured new debt financing, which could impact its capital structure and future investment capabilities.
Risk Assessment
Risk Level: medium — Entering into new debt agreements carries inherent financial risks related to repayment and interest obligations.
Key Players & Entities
- Lesaka Technologies, Inc. (company) — Registrant
- December 10, 2024 (date) — Date of Report
FAQ
What type of material definitive agreement did Lesaka Technologies, Inc. enter into?
Lesaka Technologies, Inc. entered into a loan facility agreement.
What is the date of the earliest event reported in this filing?
The date of the earliest event reported is December 10, 2024.
Does this agreement create a financial obligation for Lesaka Technologies, Inc.?
Yes, the agreement creates a direct financial obligation for the registrant.
What is the SEC file number for Lesaka Technologies, Inc.?
The SEC file number for Lesaka Technologies, Inc. is 000-31203.
What was the former name of Lesaka Technologies, Inc.?
The former name of Lesaka Technologies, Inc. was NET 1 UEPS TECHNOLOGIES INC.
Filing Stats: 653 words · 3 min read · ~2 pages · Grade level 10.4 · Accepted 2024-12-10 16:05:21
Key Financial Figures
- $1 — 9, 2024, the USD/ZAR exchange rate was $1: ZAR 17.88. On December 10, 2024, Lesa
Filing Documents
- form8k.htm (8-K) — 16KB
- exhibit10-1.htm (EX-10.1) — 18KB
- exhibit10-1x001.jpg (GRAPHIC) — 3KB
- exhibit10-1x003.jpg (GRAPHIC) — 4KB
- exhibit10-1xu001.jpg (GRAPHIC) — 11KB
- 0001062993-24-020360.txt ( ) — 274KB
- lsak-20241210.xsd (EX-101.SCH) — 4KB
- lsak-20241210_cal.xml (EX-101.CAL) — 1KB
- lsak-20241210_def.xml (EX-101.DEF) — 22KB
- lsak-20241210_lab.xml (EX-101.LAB) — 45KB
- lsak-20241210_pre.xml (EX-101.PRE) — 24KB
- form8k_htm.xml (XML) — 3KB
01. Entry Into a Material Definitive Agreement
Item 1.01. Entry Into a Material Definitive Agreement. As previously reported, on September 30, 2024, Lesaka Technologies, Inc. ("Lesaka"), through Lesaka Technologies Proprietary Limited ("Lesaka SA"), entered into an Facility Letter (the "F2024 Facility Letter") with FirstRand Bank Limited (acting through its Rand Merchant Bank division) ("RMB") to provided Lesaka SA a ZAR 665.0 million funding facility (the "Facility"). On December 9, 2024, the USD/ZAR exchange rate was $1: ZAR 17.88. On December 10, 2024, Lesaka SA and RMB entered into a First Addendum to the Facility Letter (the "F2024 Addendum Letter"). The F2024 Addendum Letter provides Lesaka SA with an additional ZAR 250.0 million general banking facility ("GBF Facility") which may be used for general corporate purposes. The F2024 Addendum Letter also extends the repayment date for the Facility from December 13, 2024 to February 28, 2025. Interest on the GBF Facility is calculated as the South Africa Prime Rate + 1.80%. The South Africa Prime Rate is currently 11.25%. The GBF Facility is unsecured and available through February 28, 2025. The foregoing descriptions of the F2024 Addendum Letter contained herein does not purport to be complete and is qualified in its entirety by reference to the F2024 Addendum Letter, which is attached hereto as Exhibit 10.1. Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information provided in Item 1.01 of this Form 8-K is incorporated by reference.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 First Addendum to the Facility Letter dated December 10, 2024 between Lesaka Technologies (Proprietary) Limited and FirstRand Bank Limited (acting through its Rand Merchant Bank division) 104 Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. LESAKA TECHNOLOGIES, INC. Date: December 10, 2024 By: /s/ Dan L. Smith Name: Dan L. Smith Title: Group Chief Financial Officer