Sequoia Capital India III Ltd. - Mar 31, 2023 Form 4 Insider Report for Near Intelligence, Inc. (NIR)

Role
10%+ Owner
Signature
By: /s/ Satyadeo Bissessur
Stock symbol
NIR
Transactions as of
Mar 31, 2023
Transactions value $
$0
Form type
4
Date filed
4/4/2023, 05:52 PM
Previous filing
Apr 3, 2023

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction NIR Convertible Debentures Purchase +750K 750K Mar 31, 2023 Common Stock Direct F1, F2
transaction NIR Warrants Purchase +18.8K 18.8K Mar 31, 2023 Common Stock 18.8K Direct F1, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On March 31, 2023, the Reporting Person acquired $750,000 in principal amount of convertible notes (the "Convertible Notes") and penny warrants for the purchase of 18,750 shares of Near Intelligence, Inc.'s (the "Issuer") common stock (the "Common Stock") from the Issuer for a purchase price of $750,000. The Convertible Notes can be converted to Common Stock at a conversion price, subject to customary adjustments, per share of Common Stock equal to the lower of $10.01 and 75% of the average of the daily volume weighted average prices during the 20 trading days immediately preceding the conversion date, provided that the conversion price cannot be lower than $2.06. The Convertible Notes accrue interest at an annual rate of 0.01%. Accrued interest may be added to the principal amount for purposes of determining the number of shares of Common Stock into which the Convertible Notes may be converted.
F2 The Convertible Notes can be converted to Common Stock at the option of the holder at any time beginning on the 181st day following the issuance date and mature 90 days after the final maturity date of the term loans issued pursuant to that certain Financing Agreement, dated November 4, 2022, by and among Issuer certain of its subsidiaries party thereto as guarantors, the lenders party thereto, and Blue Torch Finance LLC.
F3 The warrants have an exercise price of $0.01 and can be exercised at any time at the option of the holder. The warrants expire on March 31, 2027.