secwatch.observer — SEC 8-K summary
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Issuer:     FIGS, Inc. (FIGS)
CIK:        0001846576
Form:       8-K
Filed at:   2021-09-10T23:59:59+00:00
Accession:  0000950170-21-001748
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

FIGS enters $100M secured revolving credit facility with Bank of America, matures 2026
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- Revolving credit facility of $100M for working capital and general corporate purposes; matures Sept 7, 2026.
- Interest at Eurodollar Rate + 1.125% or Base Rate + 0.125%; commitment fee on unused portion.
- Replaces prior $75M JPMorgan facility; $3.2M in letters of credit remain, backed by $3.3M cash collateral.
- Facility is secured by substantially all assets; material subsidiaries are guarantors.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1846576/000095017021001748/0000950170-21-001748-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1846576/000095017021001748/figs-20210907.htm
  HTML page:      https://secwatch.observer/filing/0000950170-21-001748

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