secwatch.observer — SEC 8-K summary
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Issuer:     Spirit Aviation Holdings, Inc. (FLYYQ)
CIK:        0001498710
Form:       8-K/A
Filed at:   2025-08-22T23:59:59+00:00
Accession:  0000950103-25-010590
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.03, 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Spirit Aviation borrows $275M under revolver, extends card processor deal to 2027
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- Borrowed full $275M available under Revolving Credit Facility on August 21, 2025; corrects maturity to March 12, 2028.
- Agreed two amendments with credit card processor USB: transferred $50M to pledged account, allowed up to $3M daily holdback.
- In exchange, USB extended card processing agreement from Dec 31, 2025 to Dec 31, 2027 with auto-renewal options.
- Removed minimum liquidity trigger for holdbacks under the Card Processing Agreement.
- Borrowings and enhanced collateral support liquidity for general corporate purposes amid ongoing initiatives.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1498710/000095010325010590/0000950103-25-010590-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1498710/000095010325010590/dp233337_8ka.htm
  HTML page:      https://secwatch.observer/filing/0000950103-25-010590

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer