Anghami (ANGH) swaps $55M OSN convertible notes for 2.38M shares

Rhea-AI Filing Summary

Anghami Inc. completed the conversion of senior unsecured convertible notes held by OSN Streaming Limited into ordinary shares. On December 15, 2025, the company issued 2,376,171 ordinary shares to OSN after converting the entire principal amounts outstanding under the notes, totaling $55,000,000, together with capitalized PIK Interest and any accrued and not capitalized PIK Interest as of that date.

Following this conversion, no notes under this OSN arrangement remain outstanding. OSN now holds 2,376,171 ordinary shares issued in connection with the conversion of its senior unsecured convertible notes into equity in Anghami.

Insights

Capital structure analyst

Anghami converts $55,000,000 of OSN notes into equity, removing this debt-like instrument but increasing its share count.

The company converted senior unsecured convertible notes held by OSN Streaming Limited into ordinary shares. The conversion covered the entire principal amounts outstanding under the notes, totaling $55,000,000, plus capitalized PIK Interest and accrued, not capitalized PIK Interest as of December 15, 2025. In exchange, Anghami issued 2,376,171 ordinary shares to OSN.

After this transaction, no notes remain outstanding, so this specific borrowing is fully replaced by equity. That shifts OSN’s exposure from noteholder to shareholder, concentrating a block of 2,376,171 ordinary shares with a single holder. The overall effect on existing investors depends on the company’s total shares outstanding and broader financing mix, which are not detailed in this excerpt.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

OF THE SECURITIES EXCHANGE ACT OF 1934

For the month of December 2025

Commission File Number: 001-41263

Anghami Inc.

(Exact name of registrant as specified in its charter)

16th Floor, Al-Khatem Tower, WeWork Hub71
Abu Dhabi Global Market Square, Al Maryah Island, Abu Dhabi, United Arab Emirates

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F ☒     Form 40-F ☐

Completion of Conversion of OSN Convertible Note

On December 15, 2025, Anghami Inc. (the “Company”) issued to OSN Streaming Limited (“OSN”) 2,376,171 ordinary shares. The shares were issued to OSN pursuant to the terms of the senior unsecured convertible notes (the “Notes”) held by OSN upon conversion of (i) the entire principal amounts outstanding under the Notes in the aggregate amount of $55,000,000; and (ii) the capitalized PIK Interest and any accrued and not capitalized PIK Interest under the Notes as of December 15, 2025. Following conversion of the Notes, no Notes remain outstanding.

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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: December 15, 2025	By:	/s/ Elias Habib
	Name:	Elias Habib
	Title:	Chief Executive Officer

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FAQ

What did Anghami Inc. (ANGH) report in its December 2025 Form 6-K?

Anghami reported that it completed the conversion of senior unsecured convertible notes held by OSN Streaming Limited into ordinary shares and that no such notes remain outstanding.

How many Anghami ordinary shares were issued to OSN Streaming Limited?

Anghami issued 2,376,171 ordinary shares to OSN Streaming Limited on December 15, 2025, in connection with the conversion of the senior unsecured convertible notes.

What was the principal amount of the OSN convertible notes converted by Anghami (ANGH)?

The conversion included the entire principal amounts outstanding under the notes held by OSN, in the aggregate amount of $55,000,000, plus specified PIK Interest.

What interest components were included in Anghami’s conversion of the OSN notes?

The conversion covered capitalized PIK Interest and any accrued and not capitalized PIK Interest under the notes as of December 15, 2025, in addition to the $55,000,000 principal.

Do any of the OSN senior unsecured convertible notes remain outstanding after the conversion?

No. Anghami states that, following conversion of the notes, no notes remain outstanding under this OSN arrangement.

How did the OSN note conversion change OSN’s position in Anghami?

Before the transaction OSN held senior unsecured convertible notes; after conversion, OSN holds 2,376,171 ordinary shares of Anghami issued in exchange for those notes and related PIK Interest.