---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-061099"
form_type: "8-K"
ticker: "OFIX"
cik: "0000884624"
company_name: "Orthofix Medical Inc."
filed_at: "2023-11-08T23:59:59+00:00"
generated_at: "2026-06-08T12:26:09.692603+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Orthofix enters $150M credit facility with Blue Torch; repays prior $175M revolver

## Summary
- New $100M term loan plus $25M delayed draw and $25M revolver, maturing Nov 6, 2027.
- Borrowings bear interest at SOFR+7.25% or base+6.25%; 2.00% unused revolver fee.
- Financing used to repay all amounts under the prior $175M JPMorgan credit agreement.
- Covenants include minimum liquidity, maximum consolidated leverage ratio, minimum asset coverage.

## SEC filing metadata
- accession: 0000950170-23-061099
- form_type: 8-K
- ticker: OFIX
- cik: 0000884624
- company_name: Orthofix Medical Inc.
- filed_at: 2023-11-08T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/884624/000095017023061099/0000950170-23-061099-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/884624/000095017023061099/ofix-20231106.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-061099
- JSON: https://secwatch.observer/filing/0000950170-23-061099.json
- Plain text: https://secwatch.observer/filing/0000950170-23-061099.txt

## Key facts
- Debt Financings
  Orthofix Medical Inc. incurred term loan of $25 million senior secured delayed draw term loan facility with Blue Torch Finance LLC maturing November 6, 2027.
  - Instrument: term loan
  - Principal: $25 million senior secured delayed draw term loan facility
  - Counterparty: Blue Torch Finance LLC
  - Maturity: November 6, 2027
  - Event: incurrence
  source text: a $25 million senior secured delayed draw term loan facility (the "Delayed Draw Term Loan"),
  evidence_url: https://www.sec.gov/Archives/edgar/data/884624/000095017023061099/0000950170-23-061099-index.htm
- Debt Financings
  Orthofix Medical Inc. incurred term loan of $100 million senior secured term loan with Blue Torch Finance LLC at three-month SOFR rate (subject to a floor of 3.00% and a credit spread adjustmen maturing November 6, 2027.
  - Instrument: term loan
  - Principal: $100 million senior secured term loan
  - Counterparty: Blue Torch Finance LLC
  - Rate: three-month SOFR rate (subject to a floor of 3.00% and a credit spread adjustmen
  - Maturity: November 6, 2027
  - Event: incurrence
  source text: The Financing Agreement provides for a $100 million senior secured term loan (the "Initial Term Loan"),
  evidence_url: https://www.sec.gov/Archives/edgar/data/884624/000095017023061099/0000950170-23-061099-index.htm
- Debt Financings
  Orthofix Medical Inc. incurred revolving credit of $25 million senior secured revolving credit facility with Blue Torch Finance LLC maturing November 6, 2027.
  - Instrument: revolving credit
  - Principal: $25 million senior secured revolving credit facility
  - Counterparty: Blue Torch Finance LLC
  - Maturity: November 6, 2027
  - Event: incurrence
  source text: and a $25 million senior secured revolving credit facility (the "Revolving Credit Facility,"
  evidence_url: https://www.sec.gov/Archives/edgar/data/884624/000095017023061099/0000950170-23-061099-index.htm
- Material Agreements
  Orthofix Medical Inc. terminated Second Amended and Restated Credit Agreement with JPMorgan Chase Bank, N.A., as administrative agent, and the lenders party thereto valued at $175 million senior secured revolving credit facility (effective 2023-11-06).
  - Action: termination
  - Agreement: credit facility
  - Counterparty: JPMorgan Chase Bank, N.A., as administrative agent, and the lenders party thereto
  - Value: $175 million senior secured revolving credit facility
  - Effective: 2023-11-06
  source text: the Company repaid in full amounts outstanding and terminated all commitments under the Company's prior $175 million senior secured revolving credit facility evidenced by that certain Second Amended and Restated Credit Agreement, dated as of October 25, 2019, among the Company, certain subsidiaries of the Company as borrowers and guarantors, JPMorgan Chase Bank, N.A., as administrative agent, and the lenders party thereto (as amended, supplemented or otherwise modified, the "Prior Credit Agreement").
  evidence_url: https://www.sec.gov/Archives/edgar/data/884624/000095017023061099/0000950170-23-061099-index.htm
- Material Agreements
  Orthofix Medical Inc. entered into Financing Agreement with Blue Torch Finance LLC, as administrative agent and collateral agent, and certain lenders party thereto valued at $100 million senior secured term loan, a $25 million senior secured delayed draw term loan facility, (effective 2023-11-06).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Blue Torch Finance LLC, as administrative agent and collateral agent, and certain lenders party thereto
  - Value: $100 million senior secured term loan, a $25 million senior secured delayed draw term loan facility,
  - Effective: 2023-11-06
  source text: On November 6, 2023 (the "Effective Date"), Orthofix Medical Inc. (the "Company"), as borrower, and certain subsidiaries of the Company as guarantors, entered into a Financing Agreement (the "Financing Agreement") with Blue Torch Finance LLC, as administrative agent and collateral agent (the "Agent"), and certain lenders party thereto.
  evidence_url: https://www.sec.gov/Archives/edgar/data/884624/000095017023061099/0000950170-23-061099-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.