secwatch.observer — SEC 8-K summary
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Issuer:     RE/MAX Holdings, Inc. (RMAX)
CIK:        0001581091
Form:       8-K
Filed at:   2023-11-06T23:59:59+00:00
Accession:  0001104659-23-114764
Event type: debt
Sentiment:  negative
Materiality: 0.60
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

RE/MAX reports Total Leverage Ratio of 7.0:1 as of Sept 30, 2023, restricting dividends and buybacks
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- TLR of 7.0:1 based on consolidated EBITDA of $49.1M for trailing twelve months.
- Under credit agreement, TLR above 3.50:1 triggers restricted payments cap at greater of $50M or 50% of EBITDA ($24.6M).
- Fifty percent of consolidated EBITDA for prior four quarters is $24.6M, limiting shareholder distributions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1581091/000110465923114764/0001104659-23-114764-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1581091/000110465923114764/tm2329999d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-114764

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer