ANGHW · Anghami Inc.

Anghami Inc. has entered into a $20 million senior loan agreement with UBC Ventures W.L.L., a move that significantly bolsters its balance sheet. The facility, structured as a senior term loan, carries an interest rate of 8% per annum plus the applicable Term SOFR reference rate, with interest capitalized and added to principal at the end of each six-month interest period. The loan matures on the second anniversary of the agreement (April 29, 2028), though the lender has sole discretion to extend the repayment date. Key covenants include mandatory prepayment from proceeds of asset sales or capital markets issuances exceeding certain thresholds, and a prohibition on re-borrowing. The proceeds are earmarked for general corporate purposes and working capital, providing Anghami with additional financial flexibility to support its operations and growth initiatives. This debt financing, while increasing leverage, does not include any financial maintenance covenants, offering the company operational latitude. The agreement also contains standard representations, warranties, and events of default, including an illegality clause. Overall, this transaction strengthens Anghami's liquidity position and provides a capital cushion for its strategic plans.