Xperi Inc. (XPER): debt financing — Xperi enters $55M receivables securitization facility with PNC Bank

Xperi Inc.

Maximum borrowing capacity of $55M based on eligible trade receivables.
Facility structured through newly-formed SPV subsidiary Xperi SPV LLC.
Agreement dated Feb 21, 2025; terminates Feb 21, 2028, unless earlier.
Interest based on Term SOFR or Daily 1M SOFR; customary fees and covenants.
Obligations of Xperi SPV are non-recourse to Xperi, but Xperi guarantees performance.

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

Xperi Inc. incurred credit facility of $55 million with PNC Bank, National Association at Term SOFR Rate or Daily 1M SOFR, as selected maturing February 21, 2028.

Instrument: credit facility
Principal: $55 million
Counterparty: PNC Bank, National Association
Rate: Term SOFR Rate or Daily 1M SOFR, as selected
Maturity: February 21, 2028
Event: incurrence

Exact text from the filing

(the “Company”) entered into a Receivables Financing Agreement by and among the Company, as initial servicer, Xperi SPV LLC (“Xperi SPV”), a newly‐formed and wholly‐owned special purpose subsidiary, as borrower, PNC Bank, National Association (“PNC”), as administrative agent, PNC Capital Markets LLC, as structuring agent, and the lenders from time to time party thereto (the “RFA”).

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Source: SEC EDGAR

accession 0000950170-25-024897

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