ASURE SOFTWARE INC (ASUR): M&A transaction — Asure Software acquires Lathem time & attendance for $39.5M, borrows $40M

ASURE SOFTWARE INC

Acquired 100% of Lathem Time 2025, LLC for $39.5 million in cash, subject to working capital adjustments.
Borrowed remaining $40M available under existing Credit Agreement to fund closing proceeds.
Amended credit agreement: minimum liquidity threshold raised from $6.0M to $7.5M; final payment fee increased from 1% to 2%.
Lathem provides time and attendance products; acquisition expands Asure's HCM software suite.

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Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

ASURE SOFTWARE INC incurred term loan of $40 million with MidCap Financial Trust maturing April 1, 2030.

Instrument: term loan
Principal: $40 million
Counterparty: MidCap Financial Trust
Maturity: April 1, 2030
Event: incurrence

Exact text from the filing

On June 30, 2025, and to finance the closing proceeds for the Lathem Transaction, the Company borrowed the remaining $40 million available under the Credit Agreement.

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M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

ASURE SOFTWARE INC completed an acquisition involving Pendulum Holding, Inc. for $39.5 million (closed 2025-07-01).

Action: acquisition
Counterparty: Pendulum Holding, Inc.
Consideration: $39.5 million
Closing: 2025-07-01

Exact text from the filing

by and among Pendulum Holding, Inc. (the “Seller”), the equityholders of Pendulum Holding, Inc., Lathem and the Company. The purchase price paid by the Company to the Seller is $39.5 million, subject to certain adjustments, as set forth in the Agreement, based on working capital and inventory costs (the “Lathem Transaction”). The Agreement includes customary

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Source: SEC EDGAR

accession 0000884144-25-000078

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