{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-24-000146","form_type":"8-K","ticker":"KIDS","cik":"0001425450","company_name":"ORTHOPEDIATRICS CORP","filed_at":"2024-01-02T23:59:59+00:00","discovered_at":"2026-05-14T18:03:24.151950+00:00","generated_at":"2026-06-07T05:11:29.591893+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"OrthoPediatrics enters $80M credit facility with MidCap; $10M term loan drawn","bullets":["Term loan facility up to $30M (three $10M tranches); first tranche of $10M funded at closing.","Revolving loan facility up to $50M; total facility size $80M.","Term loan interest: greater of 1M Term SOFR+6.5% or 9.0%; revolver: greater of SOFR+4.0% or 6.5%.","Maturity Dec 1, 2028; replaces Squadron $50M facility with no outstanding balance; secured by assets."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-24-000146","json":"https://secwatch.observer/filing/0001104659-24-000146.json","markdown":"https://secwatch.observer/filing/0001104659-24-000146.md","text":"https://secwatch.observer/filing/0001104659-24-000146.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1425450/000110465924000146/0001104659-24-000146-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1425450/000110465924000146/tm2333951d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-07T05:11:29.591893+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"1f9fc9089d12852098092170e04d11c06f8ea36d","claim":"ORTHOPEDIATRICS CORP incurred revolving credit of $50 million (the \"Revolving Loan\") with MidCap Funding IV Trust, as Agent; MidCap Financial Trust, as Term Loan Servicer; Lenders at the greater of (a) One Month Term SOFR plus 4.0% or (b) 6.50% maturing upon the earlier of December 1, 2028, or ....","evidence_excerpt":"a revolving loan in an aggregate principal amount that will not exceed $50 million (the \"Revolving Loan\")","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1425450/000110465924000146/0001104659-24-000146-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"revolving credit"},{"label":"Principal","value":"$50 million (the \"Revolving Loan\")"},{"label":"Counterparty","value":"MidCap Funding IV Trust, as Agent; MidCap Financial Trust, as Term Loan Servicer; Lenders"},{"label":"Rate","value":"the greater of (a) One Month Term SOFR plus 4.0% or (b) 6.50%"},{"label":"Maturity","value":"upon the earlier of December 1, 2028, or ..."},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"ae5e526289a716627bd870e2f547a2bf11f95a7c","claim":"ORTHOPEDIATRICS CORP incurred term loan of $30 million available in three tranches of $10 million each with MidCap Funding IV Trust, as Agent; MidCap Financial Trust, as Term Loan Servicer; Lenders at the greater of (a) One Month Term SOFR plus 6.50% or (b) 9.0% maturing the earlier of December 1, 2028, or ....","evidence_excerpt":"the Lenders have provided to Borrowers a term loan in an aggregate principal amount that will not exceed $30 million available in three tranches of $10 million each subject to certain conditions (the \"Term Loan\")","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1425450/000110465924000146/0001104659-24-000146-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Principal","value":"$30 million available in three tranches of $10 million each"},{"label":"Counterparty","value":"MidCap Funding IV Trust, as Agent; MidCap Financial Trust, as Term Loan Servicer; Lenders"},{"label":"Rate","value":"the greater of (a) One Month Term SOFR plus 6.50% or (b) 9.0%"},{"label":"Maturity","value":"the earlier of December 1, 2028, or ..."},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"28d9f39bb98dc16735b5367ca845712acac765d9","claim":"ORTHOPEDIATRICS CORP terminated Squadron Loan Agreement with Squadron Capital LLC (effective 2023-12-29).","evidence_excerpt":"There was no indebtedness outstanding under the Squadron Loan Agreement and it was terminated in connection with the Credit Agreement.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1425450/000110465924000146/0001104659-24-000146-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"termination"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Squadron Capital LLC"},{"label":"Effective","value":"2023-12-29"}],"fact_type":"material_agreement"},{"claim_id":"2d62f4367c82e9e7edb6916049f3e8baba77dfe8","claim":"ORTHOPEDIATRICS CORP entered into Credit Agreement with MidCap Funding IV Trust, MidCap Financial Trust, and the Lenders valued at $80 million (effective 2023-12-29).","evidence_excerpt":"On December 29, 2023, OrthoPediatrics Corp. (the “Company”) entered into a $80 million Credit, Security and Guaranty Agreement (the “Credit Agreement”)","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1425450/000110465924000146/0001104659-24-000146-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"MidCap Funding IV Trust, MidCap Financial Trust, and the Lenders"},{"label":"Value","value":"$80 million"},{"label":"Effective","value":"2023-12-29"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}