secwatch.observer — SEC 8-K summary
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Issuer:     DXP ENTERPRISES INC (DXPE)
CIK:        0001020710
Form:       8-K
Filed at:   2022-11-29T23:59:59+00:00
Accession:  0001020710-22-000097
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.03, 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

DXP Enterprises closes $105M incremental Term Loan B, total outstanding $417.2M
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- Incremental $105M Senior Secured Term Loan B added to existing $330M TLB, total $417.2M outstanding.
- TLB matures December 2027, priced at Term SOFR plus 5.25% with secured leverage covenant 5.75:1 to 4.75:1.
- Proceeds to repay ABL borrowings, with remainder for general corporate purposes, potential acquisitions.
- Net debt to EBITDA was 2.86:1 at Q3 2022 close; $70M cash on balance sheet at closing.
- Management cites strong lender demand and positions DXP for organic and acquisition growth.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1020710/000102071022000097/0001020710-22-000097-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1020710/000102071022000097/dxpe-20221122.htm
  HTML page:      https://secwatch.observer/filing/0001020710-22-000097

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