{"schema_version":"secwatch.filing_event.v1","accession":"0000950170-23-029645","form_type":"8-K","ticker":"EXTR","cik":"0001078271","company_name":"EXTREME NETWORKS INC","filed_at":"2023-06-23T23:59:59+00:00","discovered_at":"2026-05-14T18:03:37.875523+00:00","generated_at":"2026-06-13T17:34:59.102441+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"confidence":"high","headline":"Extreme Networks enters $200M term loan and $150M revolving credit facility, maturing 2028","bullets":["Second Amended and Restated Credit Agreement dated June 22, 2023, replaces prior 2019 facility.","Term loan of $200M and revolving loan of $150M, both five-year maturities through June 2028.","Interest rates: SOFR plus 2.00%-2.75% or base rate plus 1.00%-1.75%, based on leverage ratio.","Covenants: min interest coverage 3.00x, max leverage 2.75x (step-up to 3.25x for acquisitions).","Proceeds for working capital and general corporate purposes; secured by substantially all assets."],"urls":{"canonical":"https://secwatch.observer/filing/0000950170-23-029645","json":"https://secwatch.observer/filing/0000950170-23-029645.json","markdown":"https://secwatch.observer/filing/0000950170-23-029645.md","text":"https://secwatch.observer/filing/0000950170-23-029645.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1078271/000095017023029645/0000950170-23-029645-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1078271/000095017023029645/extr-20230622.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-13T17:34:59.102441+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"353e3daca02e345f713b702e9fc952236f11e27d","claim":"EXTREME NETWORKS INC incurred term loan of $200 million with Bank of Montreal, as administrative agent, and the lenders party thereto at the applicable margin for SOFR loans ranges from 2.00% to 2.75% per annum maturing June 22, 2028.","evidence_excerpt":"The Credit Agreement provides for a 5-year first lien term loan facility in an aggregate principal amount of $200 million","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1078271/000095017023029645/0000950170-23-029645-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Principal","value":"$200 million"},{"label":"Counterparty","value":"Bank of Montreal, as administrative agent, and the lenders party thereto"},{"label":"Rate","value":"the applicable margin for SOFR loans ranges from 2.00% to 2.75% per annum"},{"label":"Maturity","value":"June 22, 2028"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"672960e8fa66b2414079fbd8ae4af3027fd4a8fc","claim":"EXTREME NETWORKS INC incurred revolving credit of $150 million with Bank of Montreal, as administrative agent, and the lenders party thereto at the applicable margin for SOFR loans ranges from 2.00% to 2.75% per annum maturing June 22, 2028.","evidence_excerpt":"a 5-year revolving loan facility in an aggregate principal amount of $150 million","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1078271/000095017023029645/0000950170-23-029645-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"revolving credit"},{"label":"Principal","value":"$150 million"},{"label":"Counterparty","value":"Bank of Montreal, as administrative agent, and the lenders party thereto"},{"label":"Rate","value":"the applicable margin for SOFR loans ranges from 2.00% to 2.75% per annum"},{"label":"Maturity","value":"June 22, 2028"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"090b8dc369cfef13d589270d509eaeba5ec96e3e","claim":"EXTREME NETWORKS INC amended Second Amended and Restated Credit Agreement with BMO Harris Bank, N.A., Bank of America, N.A., JPMorgan Chase Bank, N.A., PNC Bank, National Association, Wells Fargo Bank, National Association, and Bank of Montreal valued at $200 million (effective 2023-06-22).","evidence_excerpt":"On June 22, 2023, Extreme Networks, Inc., a Delaware corporation (“ Extreme ”) entered into a Second Amended and Restated Credit Agreement (the “ Credit Agreement ”), by and among Extreme, as borrower, BMO Harris Bank, N.A., as an issuing lender and swingline lender, Bank of America, N.A., JPMorgan Chase Bank, N.A., PNC Bank, National Association and Wells Fargo Bank, National Association, as issuing lenders, the financial institutions or entities party thereto as lenders, and Bank of Montreal, as administrative agent and collateral agent.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1078271/000095017023029645/0000950170-23-029645-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"BMO Harris Bank, N.A., Bank of America, N.A., JPMorgan Chase Bank, N.A., PNC Bank, National Association, Wells Fargo Bank, National Association, and Bank of Montreal"},{"label":"Value","value":"$200 million"},{"label":"Effective","value":"2023-06-22"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}