Mitek Systems Inc. has borrowed $50 million under its delayed draw term loan facility, as part of an existing Credit Agreement with Silicon Valley Bank, a division of First-Citizens Bank & Trust Company. The agreement, originally dated February 13, 2024, and amended on May 7, 2025, also includes A2iA Corp. and ID R&D, Inc. as parties. The company intends to use the funds to enhance liquidity and maintain financial flexibility ahead of the maturity of its 0.750% Convertible Senior Notes due February 1, 2026. The term loan carries a variable interest rate based on either term SOFR or the WSJ prime rate, with adjustments tied to Mitek's net leverage ratio.

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