secwatch.observer — SEC 8-K summary
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Issuer:     PTC INC. (PTC)
CIK:        0000857005
Form:       8-K
Filed at:   2023-01-03T23:59:59+00:00
Accession:  0000950170-23-000061
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 1.02, 2.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PTC completes $1.485B acquisition of ServiceMax; enters new $1.75B credit facility
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- Completed acquisition of ServiceMax, Inc. on Jan 3, 2023 for total consideration of $1.485 billion, with $835M paid at closing.
- Remaining $650M purchase installment due Oct 2, 2023, without interest.
- Entered Fourth Amended and Restated Credit Agreement: $1.25B revolver and $500M term loan, maturing Jan 3, 2028.
- Borrowed $630M under revolver and $500M under term loan to repay prior credit facility and fund acquisition.
- Terminated prior $359M credit facility; new facility includes covenants: total leverage ≤4.50x, secured leverage ≤3.00x.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/857005/000095017023000061/0000950170-23-000061-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/857005/000095017023000061/ptc-20230103.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-000061

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