secwatch.observer — SEC 8-K summary
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Issuer:     ALLEGRO MICROSYSTEMS, INC. (ALGM)
CIK:        0000866291
Form:       8-K
Filed at:   2023-06-23T23:59:59+00:00
Accession:  0000866291-23-000039
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Allegro MicroSystems enters $224M secured revolving credit facility maturing 2028
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- New $224M secured revolving credit facility with Morgan Stanley as agent; includes $20M letter of credit subfacility.
- Loans mature June 21, 2028; interest at Term SOFR plus 1.50%–1.75% or base rate plus 0.50%–0.75%.
- Quarterly commitment fee 0.20%–0.25% on unused commitments; proceeds for working capital and general corporate purposes.
- Total Net Leverage Ratio covenant ≤4.00x, stepping to 4.50x for four quarters after acquisitions >$500M.
- Prior Mizuho credit facility terminated and all outstanding loans repaid simultaneously.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/866291/000086629123000039/0000866291-23-000039-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/866291/000086629123000039/algm-20230621.htm
  HTML page:      https://secwatch.observer/filing/0000866291-23-000039

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