---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-012765"
form_type: "8-K"
ticker: "VRRM"
cik: "0001682745"
company_name: "VERRA MOBILITY Corp"
filed_at: "2024-02-08T23:59:59+00:00"
generated_at: "2026-06-06T05:41:37.563332+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Verra Mobility refinances $704.6M debt at lower rate; settles PlusPass litigation for $31.5M

## Summary
- Amended credit agreement refinancing $704.6M term loans; rate reduced 50 bps to SOFR + 2.75% plus elimination of credit spread adjustment saving total 61.5 bps.
- Maturity unchanged at March 26, 2028; no changes to financial covenants or repayment terms.
- Entered into arrangement with PlusPass: pay $31.5M for asset acquisition and litigation resolution; amount accrued at Dec 31, 2023.
- Payment expected to be funded from existing cash; recorded in SG&A for quarter ending March 31, 2024.

## SEC filing metadata
- accession: 0000950170-24-012765
- form_type: 8-K
- ticker: VRRM
- cik: 0001682745
- company_name: VERRA MOBILITY Corp
- filed_at: 2024-02-08T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1682745/000095017024012765/0000950170-24-012765-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1682745/000095017024012765/vrrm-20240208.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-012765
- JSON: https://secwatch.observer/filing/0000950170-24-012765.json
- Plain text: https://secwatch.observer/filing/0000950170-24-012765.txt

## Key facts
- Debt Financings
  VERRA MOBILITY Corp amended term loan of $704.6 million with Bank of America, N.A. at SOFR + 2.75% maturing March 26, 2028.
  - Instrument: term loan
  - Principal: $704.6 million
  - Counterparty: Bank of America, N.A.
  - Rate: SOFR + 2.75%
  - Maturity: March 26, 2028
  - Event: amendment
  source text: a permitted refinancing of the entire outstanding amount under the Credit Agreement and incurred new Term B-2 Loans (the “ New Term Loans ”) in the aggregate principal amount of $704.6 million. The proceeds from the New Term Loans were used in their entirety to prepay in full the then outstanding principal amount of the existing term loan under the Credit Agreement. In
  evidence_url: https://www.sec.gov/Archives/edgar/data/1682745/000095017024012765/0000950170-24-012765-index.htm
- Material Agreements
  VERRA MOBILITY Corp amended Amendment No. 3 with Bank of America, N.A., as administrative agent and collateral agent valued at $704.6 million (effective 2024-02-08).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Bank of America, N.A., as administrative agent and collateral agent
  - Value: $704.6 million
  - Effective: 2024-02-08
  source text: On February 8, 2024, Greenlight Acquisition Corporation (“ Holdings ”), VM Consolidated, Inc. (formerly known as ATS Consolidated, Inc.), American Traffic Solutions, Inc., and LaserCraft, Inc. (collectively, the “ Borrowers ”), as well as American Traffic Solutions Consolidated, L.L.C., ATS Processing Services, L.L.C., Auto Tag of America LLC, Auto Titles of America LLC, Highway Toll Administration, LLC, Verra Mobility Electrical Enterprises, Inc., Mulvihill ICS, Inc., PlatePass, L.L.C., Sunshine State Tag Agency LLC, Redflex Traffic Systems, Inc., T2 Systems Parent Corporation, T2 Holding Corp., T2 Systems, Inc., American Traffic Solutions, L.L.C., and Citation Collection Services LLC (collectively, the “ Subsidiary Guarantors ”), each a wholly‐owned subsidiary of Verra Mobility Corporation (the “ Company ”), entered into Amendment No. 3 (the “ Amendment ”) to the Amended and Restated First Lien Term Loan Credit Agreement dated as of March 26, 2021 (as amended, the “ Credit Agreement
  evidence_url: https://www.sec.gov/Archives/edgar/data/1682745/000095017024012765/0000950170-24-012765-index.htm

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