Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
SOUNDTHINKING, INC. amended revolving credit of $25.0 million with Umpqua Bank at SOFR rate plus 2.0% per annum maturing October 15, 2024.
- Instrument
- revolving credit
- Principal
- $25.0 million
- Counterparty
- Umpqua Bank
- Rate
- SOFR rate plus 2.0% per annum
- Maturity
- October 15, 2024
- Event
- amendment
Exact text from the filing
On November 22, 2022, ShotSpotter, Inc. (the “Company”) entered into a Fifth Amendment to Credit Agreement with Umpqua Bank (the “Amendment”), which amends the terms of that certain Credit Agreement, dated as of September 27, 2018, as amended (as amended by the Amendment, the “Credit Agreement”), to, among other things, (1) extend the maturity date from November 27, 2022 to October 15, 2024, (2) increase the revolving credit commitment from $20.0 million to $25.0 million, (3) increase the letter of credit sub-facility from $6.0 million to $7.5 million, (4) remove the minimum profitability covenants and (5) replace the LIBOR index rate with a Term Secured Overnight Financing Rate (“SOFR”) index rate.
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
SOUNDTHINKING, INC. amended Fifth Amendment to Credit Agreement with Umpqua Bank (effective 2022-11-22).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- Umpqua Bank
- Effective
- 2022-11-22
Exact text from the filing
Item 1.01 Entry Into a Material Definitive Agreement. On November 22, 2022, ShotSpotter, Inc. (the “Company”) entered into a Fifth Amendment to Credit Agreement with Umpqua Bank (the “Amendment”)
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