UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
6-K
REPORT
OF FOREIGN PRIVATE ISSUER
PURSUANT
TO RULE 13a-16 OR 15d-16
OF
THE SECURITIES EXCHANGE ACT OF 1934
For
the month of July 2025
Commission
File Number: 001-41263
Anghami
Inc.
(Exact
name of registrant as specified in its charter)
16th
Floor, Al-Khatem Tower, WeWork Hub71
Abu Dhabi Global Market Square, Al Maryah Island, Abu Dhabi, United Arab Emirates
(Address
of principal executive office)
Indicate
by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form
20-F ☒ Form 40-F ☐
EXPLANATORY
NOTE
Convertible
Note Transaction
On
July 25, 2025, Anghami Inc. (the “Company”) announced the sale of a senior unsecured convertible note in the
amount of $23,000,000 (the “Third Note”) pursuant to the previously reported Convertible Note Purchase Agreement
(the “Note Purchase Agreement”), dated December 16, 2024 (the “Initial Funding Date”),
to OSN Streaming Limited, a Cayman Islands exempted company (“OSN”). The Company previously issued a senior
unsecured convertible note in the amount of $12,000,000 (the “Initial Note”) and a senior unsecured convertible
note in the amount of $20,000,000 (the “Second Note”) to OSN, each pursuant to the Note Purchase Agreement.
OSN has purchased the full principal amount of senior unsecured convertible note under the Note Purchase Agreement and no additional
notes may be issued under the Note Purchase Agreement following the issuance of the Third Note to OSN.
The
Third Note will mature on December 16, 2027 (the “Maturity Date”). Interest will accrue on the outstanding
principal amount of the Third Note at a rate of 11.0% per annum, payable in kind (the “PIK Interest”) by adding
the accrued PIK Interest to the outstanding principal amount of the Third Note on a monthly basis.
OSN
may, at its sole discretion, elect to convert any portion of the outstanding principal amount of the Third Note and the accrued and unpaid
PIK Interest thereon into ordinary shares, par value $0.0001 per share (the “Ordinary Shares”), of the Company
at a per share conversion price equal to (i) $2.50, if such conversion occurs before the first anniversary of the Initial Funding Date,
(ii) $2.75, if such conversion occurs on or after the first anniversary and before the second anniversary of the Initial Funding Date,
or (iii) $3.00, if such conversion occurs on or after the second anniversary of the Initial Funding Date. Notwithstanding the foregoing,
OSN may not convert any PIK Interest into Ordinary Shares without providing written notice to the Company of its intention to do so,
which shall not be effective until the 61st day after such notice is delivered to the Company. OSN may waive this requirement by providing
written notice to the Company, which shall not be effective until the 61st day after such notice is delivered to the Company. The outstanding
principal amount of the Third Note and the accrued and unpaid PIK Interest thereon will be automatically converted into Ordinary Shares
at a per share conversion price equal to $3.00 on the Maturity Date (subject to adjustment pursuant to the Third Note).
The
Third Note includes customary covenants, subject to specified exceptions. Such covenants and exceptions include that the Company is prohibited
from incurring additional debt without the consent of OSN, other than in connection with working capital and receivable financing up
to $20.0 million. The Third Note includes customary events of default, the occurrence of which may result in the acceleration of the
maturity of the Third Note.
The
Ordinary Shares issuable upon conversion of the Third Note constitute “Registrable Securities” pursuant to, and are entitled
to the benefits of, the registration rights agreement, dated April 1, 2024, by and between the Company and OSN, which is attached hereto
as Exhibit 99.3.
The
Company intends to use the net proceeds from the offering of the Third Note for working capital, growth, and general corporate purposes.
The
foregoing descriptions of the Note Purchase Agreement and the Third Note are summaries of the material terms of such agreements, do not
purport to be complete and are qualified in their entirety by reference to the Note Purchase Agreement and the Third Note, which are
attached hereto as Exhibits 99.1 and 99.2, respectively.
EXHIBIT
INDEX
Exhibit |
|
Description |
99.1* |
|
Convertible Note Purchase Agreement, by and between the Company and OSN Streaming Limited, dated as of December 16, 2024 (incorporated by reference to Exhibit 99.2 to the Company’s the Form 6-K filed with the SEC on December 16, 2024). |
99.2*# |
|
Senior Unsecured Convertible Note, issued by the Company to OSN Streaming Limited, dated as of July 25, 2025 |
99.3 |
|
Registration Rights Agreement, dated April 1, 2024, by and between OSN Streaming Limited and Anghami Inc. (incorporated by reference to Exhibit 99.3 to the Company’s Form 6-K filed with the SEC on April 3, 2024). |
| * | Certain
of the exhibits and schedules have been omitted pursuant to Item 601(a)(5) of Regulation S-K. The Company agrees to furnish supplementally
a copy of such schedules and exhibits, or any section thereof, to the SEC upon request. |
| # | Certain
information contained in this exhibit has been omitted pursuant to Item 601(b)(10) because such information (i) is not material and (ii)
is the type of information that the Company both customarily and actually treats as private and confidential. |
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereto duly authorized.
|
ANGHAMI INC. |
|
|
|
Date: July 25, 2025 |
By: |
/s/
Elias Habib |
|
Name: |
Elias Habib |
|
Title: |
Chief Executive Officer |
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