secwatch.observer — SEC 8-K summary
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Issuer:     EXTREME NETWORKS INC (EXTR)
CIK:        0001078271
Form:       8-K
Filed at:   2023-06-23T23:59:59+00:00
Accession:  0000950170-23-029645
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Extreme Networks enters $200M term loan and $150M revolving credit facility, maturing 2028
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1078271/000095017023029645/0000950170-23-029645-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1078271/000095017023029645/extr-20230622.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-029645

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer