SOUNDTHINKING, INC. (SSTI): debt financing — SoundThinking borrows $7M under Umpqua Bank revolver to fund SafePointe acquisition

SOUNDTHINKING, INC.

Borrowed $7.0 million on August 17, 2023 under Credit Agreement with Umpqua Bank.
Proceeds partially fund acquisition of SafePointe LLC, an intelligent weapons detection provider.
Total revolver commitment is $25.0 million; $18.0 million remains undrawn after the draw.
Interest options: base rate (greater of prime or SOFR+1.0%) or term SOFR plus 2.0%.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

SOUNDTHINKING, INC. incurred revolving credit of $7.0 million with Umpqua Bank at base rate ... or ... term SOFR rate ... plus 2.0% per annum.

Instrument: revolving credit
Principal: $7.0 million
Counterparty: Umpqua Bank
Rate: base rate ... or ... term SOFR rate ... plus 2.0% per annum
Event: incurrence

Exact text from the filing

On August 17, 2023, SoundThinking, Inc. (the “Company”) borrowed $7.0 million under its Credit Agreement with Umpqua Bank, dated as of September 27, 2018, as amended (the “Credit Agreement”), the proceeds of which were used to partially fund the acquisition by the Company of the membership interests of SafePointe LLC, an intelligent weapons detection provider, on August 18, 2023.

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Source: SEC EDGAR

accession 0000950170-23-044146

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