POWERFLEET INC - Form 8-K - Entry into a Material Definitive Agreement

Form 8-K - Entry into a Material Definitive Agreement

POWERFLEET, INC.
Incorporated in the United States of America
(File number: 7272486)
Nasdaq share code: AIOT JSE share code: PWR
ISIN: US73931J1097
LEI 2549007NKEFPYEH4MF81
("Powerfleet" or "Company")


FORM 8-K: CURRENT REPORT RELATING TO ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT


Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934, Powerfleet stockholders are advised that a
Form 8-K (the "Form 8-K") has been filed with the U.S. Securities and Exchange Commission (the "SEC").

Item 1.01. Entry into a Material Definitive Agreement

On December 30, 2024, Powerfleet Israel Ltd. ("Powerfleet Israel") and Pointer Telocation Ltd. ("Pointer" and, together
with Powerfleet Israel, the "Borrowers"), each a wholly owned subsidiary of the Company, entered into an amendment
(the "Amendment") to the Amended and Restated Credit Agreement dated March 18, 2024 (the "A&R Credit
Agreement"), by and among the Borrowers and Bank Hapoalim B.M. ("Hapoalim"). The Amendment increases the
principal amount available under one of the two existing revolving facilities to Pointer ("Facility D") from $10 million
to $20 million and provides that the total principal amount of Facility D may be distributed to the Company or any of
its subsidiaries by no later than December 31, 2025, subject to certain terms and conditions of the A&R Credit
Agreement. The Amendment also makes certain other changes resulting from a change in the fiscal year end of the
Borrowers from December 31 to March 31.

The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference
to the full text of the Amendment, which is filed as Exhibit 10.1 to the Form 8-K and incorporated herein by reference.

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

The description set forth in Item 1.01 of the Form 8-K is hereby incorporated by reference in its entirety into this
Item 2.03.

A copy of the filing can be found at: https://www.sec.gov/edgar/browse/?CIK=1774170&owner=exclude.

Powerfleet has a primary listing on the Nasdaq and a secondary listing on the Main Board of the JSE.


January 6, 2025


Sponsor
Java Capital

Date: 06-01-2025 08:00:00
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