secwatch.observer — SEC 8-K summary
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Issuer:     Direct Digital Holdings, Inc. (DRCT)
CIK:        0001880613
Form:       8-K
Filed at:   2023-07-12T23:59:59+00:00
Accession:  0001104659-23-080327
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Direct Digital Holdings enters $5M revolving credit facility with East West Bank
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- Credit facility of up to $5M (plus $5M uncommitted incremental) maturing July 7, 2025.
- Interest rate is 1-month SOFR + 0.10% + 3.00% p.a., with a 0.50% floor.
- Covenants: fixed charge coverage ≥1.25x, funded debt/EBITDA ≤3.50x stepping down to 3.00x, and $1M minimum liquid assets.
- Facility is secured by substantially all assets of the borrowers.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1880613/000110465923080327/0001104659-23-080327-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1880613/000110465923080327/tm2321088d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-080327

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