secwatch.observer — SEC 8-K summary
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Issuer:     Orthofix Medical Inc. (OFIX)
CIK:        0000884624
Form:       8-K
Filed at:   2024-11-08T23:59:59+00:00
Accession:  0000950170-24-124165
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Orthofix enters $275M secured credit facility with Oxford Finance; repays Blue Torch loan
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- New credit agreement provides $160M term loan, $65M delayed draw, and up to $50M discretionary facility, maturing Nov 2029.
- Interest rate: greater of 8.75% or 5.75% plus 1-month SOFR; facility fee 1.5% of each funded tranche.
- Company terminated prior $275M credit agreement with Blue Torch Finance dated Nov 2023.
- Covenants require min $45M unrestricted cash at closing, $15M ongoing, and max 4.0x total debt-to-EBITDA leverage.
- Delayed draw Term B available from Jan 2025 to Jun 2026 subject to leverage compliance; Term C at Oxford's discretion.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/884624/000095017024124165/0000950170-24-124165-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/884624/000095017024124165/ofix-20241107.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-124165

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