AvePoint, Inc. Debt Disclosure

9. Line of Credit

 

The Company maintains a loan and security agreement  (the “Loan Agreement”) with HSBC Bank USA, National Association (“HSBC”) , as lender, for a revolving line of credit of up to $30.0 million, with an accordion feature that provides up to $20.0 million of additional borrowing capacity the Company may draw upon at its request. Of the $30.0 million line of credit, a sublimit of approximately $9.3 million is designated to facilitate the issuance of bank guarantees, including letters of credit. The line bears interest at a rate equal to term SOFR plus 3.0% to 3.3% depending on the Consolidated Total Leverage Ratio (as defined in the Loan Agreement). The line carries an unused fee at a rate equal to 0.5%. The line will mature on November 3, 2026. The Company is required to maintain a minimum Consolidated Fixed Charge Coverage Ratio (as defined in the Loan Agreement) as well as a maximum Consolidated Total Leverage Ratio, tested by HSBC each quarter. The Company pledged, assigned and granted the bank a security interest in all shares of its subsidiaries, future proceeds and assets (except for excluded assets, including material intellectual property) as security for the performance of the Loan Agreement obligations. As of December 31, 2025, the Company is compliant with all covenants under the line and had no borrowings outstanding under the line of credit.

 

The Company has not at any time, including as of December 31, 2025, and for the fiscal year ended December 31, 2025, borrowed under the Loan Agreement.