{"schema_version":"secwatch.filing_event.v1","accession":"0000886206-23-000013","form_type":"8-K","ticker":"FC","cik":"0000886206","company_name":"FRANKLIN COVEY CO","filed_at":"2023-03-30T23:59:59+00:00","discovered_at":"2026-05-14T18:03:48.406047+00:00","generated_at":"2026-06-17T09:54:46.813240+00:00","sec_items":["1.01","1.02","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"high","headline":"Franklin Covey enters $70M credit agreement with KeyBank, replacing JPMorgan facility","bullets":["New $70M credit facility: $7.5M term loan (replaces existing term loan) and $62.5M revolving line of credit.","Matures March 27, 2028; interest based on SOFR plus tiered margin of 1.50% to 2.75% depending on leverage ratio.","Financial covenants require leverage ratio <3.00x and fixed charge coverage ratio >1.15x; restricts distributions unless in compliance.","Replaces prior JPMorgan Chase credit agreement; KeyBank National Association serves as administrative agent and issuing lender.","Obligations secured by substantially all assets of the company and certain domestic subsidiaries."],"urls":{"canonical":"https://secwatch.observer/filing/0000886206-23-000013","json":"https://secwatch.observer/filing/0000886206-23-000013.json","markdown":"https://secwatch.observer/filing/0000886206-23-000013.md","text":"https://secwatch.observer/filing/0000886206-23-000013.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/886206/000088620623000013/0000886206-23-000013-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/886206/000088620623000013/fc-20230327x8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-17T09:54:46.813240+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"fc0d6cb06e899a5ca904a0e4bbd35a7f05fde470","claim":"FRANKLIN COVEY CO incurred credit facility of up to $70.0 million with KeyBank National Association at SOFR plus 1.50% to SOFR plus 2.75% maturing March 27, 2028.","evidence_excerpt":"subsidiaries, as applicable, also entered into a Security Agreement, Intellectual Property Security Agreement, and Guaranty of Payment. The 2023 Credit Agreement provides up to $70.0 million in total credit, of which $7.5 million will be used to replace the outstanding term loan balance from the 2019 Credit Agreement. The remaining $62.5 million will be available to","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/886206/000088620623000013/0000886206-23-000013-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Principal","value":"up to $70.0 million"},{"label":"Counterparty","value":"KeyBank National Association"},{"label":"Rate","value":"SOFR plus 1.50% to SOFR plus 2.75%"},{"label":"Maturity","value":"March 27, 2028"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"601f8a37df049ae15bc48ce89bc0a3607dac6aa9","claim":"FRANKLIN COVEY CO terminated 2019 Credit Agreement with JPMorgan Chase Bank, N.A. (effective 2023-03-27).","evidence_excerpt":"On March 27, 2023, Franklin Covey Co. (the Company) entered into a new credit agreement (the 2023 Credit Agreement) with KeyBank National Association (KeyBank) leading a group of financial institutions (collectively, the Lenders), which replaced the Company’s previous credit agreement with JPMorgan Chase Bank, N.A. (the 2019 Credit Agreement).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/886206/000088620623000013/0000886206-23-000013-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"termination"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"JPMorgan Chase Bank, N.A."},{"label":"Effective","value":"2023-03-27"}],"fact_type":"material_agreement"},{"claim_id":"9a2057211a551ec36db528f039a2ab47dd34d2cd","claim":"FRANKLIN COVEY CO entered into 2023 Credit Agreement with KeyBank National Association valued at $70.0 million (effective 2023-03-27).","evidence_excerpt":"On March 27, 2023, Franklin Covey Co. (the Company) entered into a new credit agreement (the 2023 Credit Agreement) with KeyBank National Association (KeyBank) leading a group of financial institutions (collectively, the Lenders), which replaced the Company’s previous credit agreement","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/886206/000088620623000013/0000886206-23-000013-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"KeyBank National Association"},{"label":"Value","value":"$70.0 million"},{"label":"Effective","value":"2023-03-27"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}