---
schema_version: "secwatch.filing_event.v1"
accession: "0000277638-23-000041"
form_type: "8-K"
ticker: null
cik: "0000277638"
company_name: "DAVEY TREE EXPERT CO"
filed_at: "2023-07-13T23:59:59+00:00"
generated_at: "2026-06-13T09:02:36.312294+00:00"
event_type: "regulatory"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Davey Tree resolves immigration investigation with ~$4M settlement; extends receivables facility

## Summary
- Non-prosecution agreement with U.S. Attorney and DHS; pays $3,984,325 (previously reserved) to resolve immigration probe.
- No criminal charges; released from civil and administrative liability; but civil suits in Georgia courts remain pending.
- Amended receivables financing agreement; termination date extended to July 21, 2024 from June 29, 2023.
- Amendment allows increase of facility limit from $100M to $150M under certain circumstances.

## SEC filing metadata
- accession: 0000277638-23-000041
- form_type: 8-K
- cik: 0000277638
- company_name: DAVEY TREE EXPERT CO
- filed_at: 2023-07-13T23:59:59+00:00
- event_type: regulatory
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/277638/000027763823000041/0000277638-23-000041-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/277638/000027763823000041/davey-20230629.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000277638-23-000041
- JSON: https://secwatch.observer/filing/0000277638-23-000041.json
- Plain text: https://secwatch.observer/filing/0000277638-23-000041.txt

## Key facts
- Debt Financings
  DAVEY TREE EXPERT CO amended credit facility of $100 million to $150 million with PNC Bank, National Association maturing July 21, 2024.
  - Instrument: credit facility
  - Principal: $100 million to $150 million
  - Counterparty: PNC Bank, National Association
  - Maturity: July 21, 2024
  - Event: amendment
  source text: to extending the termination date for another year, the Amendment allows the Borrower, under certain circumstances, to increase the limit of its AR Securitization facility from $100 million to $150 million. 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, a
  evidence_url: https://www.sec.gov/Archives/edgar/data/277638/000027763823000041/0000277638-23-000041-index.htm
- Material Agreements
  DAVEY TREE EXPERT CO amended Eleventh Amendment with PNC valued at $100 million to $150 million (effective 2023-06-29).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: PNC
  - Value: $100 million to $150 million
  - Effective: 2023-06-29
  source text: On June 29, 2023, The Davey Tree Expert Company (“Davey Tree” or the “Company”) entered into an Eleventh Amendment (the “Amendment”) to the Receivables Financing Agreement, dated as of May 9, 2016 (the “RFA”), by and among: (i) Davey Tree, as initial Servicer, (ii) Davey Receivables LLC, an Ohio limited liability company, special purpose entity and wholly-owned subsidiary of Davey Tree, as Borrower, and (iii) PNC Bank, National Association, as LC Bank and as Administrative Agent (“PNC”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/277638/000027763823000041/0000277638-23-000041-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.