secwatch.observer — SEC 8-K summary
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Issuer:     HCI Group, Inc. (HCI)
CIK:        0001400810
Form:       8-K
Filed at:   2022-12-07T23:59:59+00:00
Accession:  0000950170-22-026163
Event type: debt
Sentiment:  neutral
Materiality: 0.45
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1400810/000095017022026163/0000950170-22-026163-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1400810/000095017022026163/hci-20221201.htm
  HTML page:      https://secwatch.observer/filing/0000950170-22-026163

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