INSG adds $15M SOFR-based revolver, boosting liquidity through 2028

On 5 Aug 2025, Inseego Corp. (INSG) entered into a new $15 million secured, asset-backed revolving credit facility with BMO Bank N.A.

Rhea-AI Filing Summary

On 5 Aug 2025, Inseego Corp. (INSG) entered into a new $15 million secured, asset-backed revolving credit facility with BMO Bank N.A. (the “Working Capital Facility”). Availability is tied to a borrowing base of eligible accounts receivable and inventory, giving the company flexible access to short-term liquidity. Loans bear interest at Term SOFR + 1.00-2.50% and the facility matures 5 Aug 2028. Substantially all assets of Inseego Corp., Inseego Wireless, Inc. and Inseego North America LLC serve as collateral. The agreement contains customary representations, covenants and default provisions, including lender rights to accelerate and terminate commitments upon default.

The 8-K likewise discloses that on 7 Aug 2025 the company issued a press release and investor presentation with preliminary Q2-2025 results (numerical details furnished as Exhibits 99.1 & 99.2, not reproduced here). Under Item 2.03, the new facility is deemed a direct financial obligation.

Overall, the filing signals an incremental improvement in liquidity, albeit with asset pledges and covenant limitations that could restrict future financial flexibility.

Positive

• $15 million revolving facility enlarges working-capital liquidity through August 2028.
• Competitive SOFR + 1.00-2.50 % pricing reflects acceptable credit standing.

Negative

• Facility is secured by substantially all assets, increasing collateral encumbrance.
• Borrowing-base and covenant limits could restrict operational flexibility.

Insights

Financial Analyst

TL;DR: $15 m revolver adds liquidity through 2028; modest size limits impact, but collateral and covenants tighten balance-sheet flexibility.

Inseego’s facility provides immediate headroom for working-capital swings—helpful for a hardware vendor with volatile inventory cycles. The SOFR-based rate plus 1-2.5 ppt is competitive, implying solid credit perception. However, pledging substantially all assets and accepting borrowing-base monitoring introduces tighter lender oversight and could hinder additional financing. At ~7 % of FY-24 revenue, the facility is small, so liquidity risk is only partially mitigated. Overall impact skews mildly positive.

Credit Risk Specialist

TL;DR: Secured revolver improves near-term liquidity but increases secured leverage and priority claims on assets.

The agreement elevates BMO to first-lien position on most assets, structurally subordinating unsecured creditors. Default triggers are standard but give the lender broad acceleration rights. Maturity in 2028 pushes any refinancing wall out three years, yet the small commitment suggests potential ongoing dependence on external financing. Credit profile sees mild improvement in liquidity ratios but higher encumbrance of collateral.

8-K Event Classification

4 items: 1.01, 2.02, 2.03, 9.01

4 items

Item 1.01 Entry into a Material Definitive Agreement Business

The company signed a significant contract such as a merger agreement, credit facility, or major partnership.

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement Financial

The company incurred a new significant debt or off-balance-sheet obligation.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is the size of Inseego's new credit facility (INSG)?

The revolving Working Capital Facility is $15 million.

When does the new BMO credit facility mature?

The facility matures on 5 August 2028.

What interest rate will Inseego pay on the revolver?

Loans bear interest at Term SOFR plus 1.00-2.50 %, subject to exceptions.

What assets secure Inseego’s Working Capital Facility?

It is secured by a continuing security interest in substantially all property of the borrower and guarantors.

Did the 8-K include financial results for Q2-2025?

Only a reference: preliminary results are furnished in Exhibits 99.1 and 99.2; figures are not in the body of the filing.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 08/07/2025 - 04:06 PM Learn about SEC filing dates

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 5, 2025

INSEEGO CORP.

(Exact Name of Registrant as Specified in Charter)

Delaware		001-38358		81-3377646
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

9710 Scranton Road, Suite 200

San Diego, California 92121

(Address of principal executive offices) (Zip Code)

(858) 812-3400

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $0.001 per share	INSG	Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01. Entry into a Material Definitive Agreement.

On August 5, 2025, Inseego Corp. (“Inseego” or the “Company”) entered into a Credit and Security Agreement (the “Working Capital Facility”), by and among BMO Bank N.A., as lender (“Lender”), the Company, as borrower (in such capacity, the “Borrower”) and Inseego Wireless, Inc., a Delaware corporation (“Inseego Wireless”) and Inseego North America LLC, an Oregon limited liability company, as guarantors (“Inseego North America” and, together with Inseego Wireless, the “Guarantors”; the Guarantors, together with the Borrower, the “Loan Parties”). The Working Capital Facility is a $15 million revolving secured asset-backed credit facility. Availability under the Working Capital Facility is determined by reference to a borrowing base comprised of certain percentages of accounts receivable and inventory, subject to certain exclusions and adjustments thereto, as set forth in Working Capital Facility.

The Loan Parties’ obligations under the Working Capital Facility are secured by a continuing security interest in substantially all property of each Loan Party, subject to customary exclusions.

Loans made under the Working Capital Facility bear interest at an annual rate equal to the sum of the Term Secured Overnight Financing Rate (“SOFR”), as defined in the Working Capital Facility, plus an applicable margin ranging from 1.00-2.50%, subject to certain exceptions. The facility matures on August 5, 2028 and contains certain customary representations, warranties and covenants.

The Working Capital Facility also contains customary events of default. If an event of default occurs, the Lender is entitled to take various actions, including the acceleration of amounts due under the Working Capital Facility, termination of commitments thereunder and certain other customary actions permitted to be taken upon an event of default by a secured creditor.

The foregoing description of the Working Capital Facility does not purport to be complete and is qualified in its entirety by reference to the full text of the Working Capital Facility, a copy of which is filed as Exhibit 10.1 to this Form 8-K.

Item 2.02. Results of Operations and Financial Condition.

On August 7, 2025, Inseego Corp. (the “Company”) issued a press release containing preliminary financial results for the quarter ended June 30, 2025. On August 7, 2025, the Company also posted an investor presentation to its website at https://investor.inseego.com/events-presentations (the “Company Earnings Presentation”). The text of the press release and Company Earnings Presentation are furnished as Exhibits 99.1 and 99.2 to this Form 8-K and incorporated herein by reference.

The information in “Item 2.02 Results of Operations and Financial Condition” of this Current Report on Form 8-K and in Exhibit 99.1, attached hereto, is furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section. It may be incorporated by reference in a filing under the Exchange Act or the Securities Act of 1933, as amended, only if such subsequent filing specifically references such disclosure in this Form 8-K.

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information set forth in Item 1.01 of this current report is incorporated by reference into this Item 2.03.

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Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

The following Exhibits are filed with this report:

Exhibit No.	Description
10.1	Credit and Security Agreement dated August 5, 2025
99.1	Press Release dated August 7, 2025, containing Inseego Corp. preliminary financial results for the quarter ended June 30, 2025
99.2	Company Earnings Presentation, dated August 7, 2025
104	Cover Page Interactive Data File (embedded within the Inline XBRL document).

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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: August 7, 2025	By:	/s/ Steven Gatoff
		Steven Gatoff
		Chief Financial Officer

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