---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-22-026163"
form_type: "8-K"
ticker: "HCI"
cik: "0001400810"
company_name: "HCI Group, Inc."
filed_at: "2022-12-07T23:59:59+00:00"
generated_at: "2026-06-21T08:03:51.244629+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.45
calibrated_materiality_score: 0.45
confidence: "high"
source: SEC EDGAR
---

# HCI Group amends credit facility; reduces max to $50M, shifts to SOFR-based rate

## Summary
- Maximum revolving credit reduced from $65M to $50M, aligned with collateral release of one land parcel.
- Maximum debt-to-capital ratio set at 67.5% under amended Credit Agreement.
- Borrowing rate now based on 1- or 3-month SOFR plus a 10 basis point adjustment.
- Fifth Amendment eliminates LIBOR references and replaces with SOFR and Tranche Rate provisions.
- Effective December 1, 2022; other terms updated per amendment with Fifth Third Bank.

## SEC filing metadata
- accession: 0000950170-22-026163
- form_type: 8-K
- ticker: HCI
- cik: 0001400810
- company_name: HCI Group, Inc.
- filed_at: 2022-12-07T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.45
- calibrated_materiality_score: 0.45
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1400810/000095017022026163/0000950170-22-026163-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1400810/000095017022026163/hci-20221201.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-22-026163
- JSON: https://secwatch.observer/filing/0000950170-22-026163.json
- Plain text: https://secwatch.observer/filing/0000950170-22-026163.txt

## Key facts
- Material Agreements
  HCI Group, Inc. amended Fifth Amendment to Credit Agreement with Fifth Third Bank valued at $50,000,000 (effective 2022-12-01).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Fifth Third Bank
  - Value: $50,000,000
  - Effective: 2022-12-01
  source text: On December 1, 2022, we completed an amendment to our revolving credit facility from Fifth Third Bank. Under the terms of the amendment, one parcel of land is released from the collateral pool and the maximum balance of the line of credit is reduced to $50,000,000, commensurate with the reduction in the collateral.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1400810/000095017022026163/0000950170-22-026163-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.