secwatch.observer — SEC 8-K summary
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Issuer:     Paragon 28, Inc. (—)
CIK:        0001531978
Form:       8-K
Filed at:   2023-11-07T23:59:59+00:00
Accession:  0000950170-23-060213
Event type: debt
Sentiment:  positive
Materiality: 0.65
Item codes: 1.01, 1.02, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Paragon 28 secures $150M credit facility from Ares, replacing $90M MidCap facility
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- New $150M facility includes $100M term loan ($75M drawn at close) and $50M revolver ($25M drawn).
- Interest: term loan at SOFR + 6.75-6.25% or base + 5.75-5.25%; revolver at SOFR + 4% or base + 3%.
- Pro forma liquidity of $147M as of Sep 30, 2023: $97M cash + $50M available revolver.
- Facility is non-dilutive with no warrants; proceeds used to repay and terminate existing $90M MidCap credit agreement.
- Matures in 5 years; financial covenant requires minimum revenue levels.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1531978/000095017023060213/0000950170-23-060213-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1531978/000095017023060213/fna-20231102.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-060213

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