---
schema_version: "secwatch.filing_event.v1"
accession: "0000884144-23-000048"
form_type: "8-K"
ticker: "ASUR"
cik: "0000884144"
company_name: "ASURE SOFTWARE INC"
filed_at: "2023-09-13T23:59:59+00:00"
generated_at: "2026-06-10T19:44:15.321568+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Asure Software terminates $30.9M loan agreement, pays off debt with equity offering proceeds

## Summary
- Paid $30.9M to Structural Capital and Ocean II PLO to fully satisfy Loan Agreement and Note, including $30.6M principal/interest and $0.3M prepayment fee.
- Payoff funded by net proceeds of ~$43M from recent common stock offering of 3.833M shares (including overallotment).
- CEO Pat Goepel says paydown enhances cash flow, is accretive to earnings, and provides financial flexibility for organic growth and margin expansion.

## SEC filing metadata
- accession: 0000884144-23-000048
- form_type: 8-K
- ticker: ASUR
- cik: 0000884144
- company_name: ASURE SOFTWARE INC
- filed_at: 2023-09-13T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/884144/000088414423000048/0000884144-23-000048-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/884144/000088414423000048/asur-20230912.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000884144-23-000048
- JSON: https://secwatch.observer/filing/0000884144-23-000048.json
- Plain text: https://secwatch.observer/filing/0000884144-23-000048.txt

## Key facts
- Material Agreements
  ASURE SOFTWARE INC terminated Loan Agreement with Structural Capital Investments III, LP and Ocean II PLO LLC valued at approximately $30.9 million (effective 2023-09-12).
  - Action: termination
  - Agreement: credit facility
  - Counterparty: Structural Capital Investments III, LP and Ocean II PLO LLC
  - Value: approximately $30.9 million
  - Effective: 2023-09-12
  source text: On September 12, 2023, we terminated our Loan and Security Agreement (the “Loan Agreement”) dated September 10, 2021, with Structural Capital Investments III, LP (“Structural” and together with the other lenders that are parties thereto, the “Lenders”), and Ocean II PLO LLC, as administrative and collateral agent for the Lenders (“Agent”), and our secured promissory note (the “Note”) with Agent evidencing our obligations under the Loan Agreement.
  evidence_url: https://www.sec.gov/Archives/edgar/data/884144/000088414423000048/0000884144-23-000048-index.htm

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