---
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"
generated_at: "2026-06-07T05:11:29.591893+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# OrthoPediatrics enters $80M credit facility with MidCap; $10M term loan drawn

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-000146
- JSON: https://secwatch.observer/filing/0001104659-24-000146.json
- Plain text: https://secwatch.observer/filing/0001104659-24-000146.txt

## Key facts
- Debt Financings
  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 ....
  - Instrument: revolving credit
  - Principal: $50 million (the "Revolving Loan")
  - Counterparty: MidCap Funding IV Trust, as Agent; MidCap Financial Trust, as Term Loan Servicer; Lenders
  - Rate: the greater of (a) One Month Term SOFR plus 4.0% or (b) 6.50%
  - Maturity: upon the earlier of December 1, 2028, or ...
  - Event: incurrence
  source text: a revolving loan in an aggregate principal amount that will not exceed $50 million (the "Revolving Loan")
  evidence_url: https://www.sec.gov/Archives/edgar/data/1425450/000110465924000146/0001104659-24-000146-index.htm
- Debt Financings
  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 ....
  - Instrument: term loan
  - Principal: $30 million available in three tranches of $10 million each
  - Counterparty: MidCap Funding IV Trust, as Agent; MidCap Financial Trust, as Term Loan Servicer; Lenders
  - Rate: the greater of (a) One Month Term SOFR plus 6.50% or (b) 9.0%
  - Maturity: the earlier of December 1, 2028, or ...
  - Event: incurrence
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1425450/000110465924000146/0001104659-24-000146-index.htm
- Material Agreements
  ORTHOPEDIATRICS CORP terminated Squadron Loan Agreement with Squadron Capital LLC (effective 2023-12-29).
  - Action: termination
  - Agreement: credit facility
  - Counterparty: Squadron Capital LLC
  - Effective: 2023-12-29
  source text: There was no indebtedness outstanding under the Squadron Loan Agreement and it was terminated in connection with the Credit Agreement.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1425450/000110465924000146/0001104659-24-000146-index.htm
- Material Agreements
  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).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: MidCap Funding IV Trust, MidCap Financial Trust, and the Lenders
  - Value: $80 million
  - Effective: 2023-12-29
  source text: On December 29, 2023, OrthoPediatrics Corp. (the “Company”) entered into a $80 million Credit, Security and Guaranty Agreement (the “Credit Agreement”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1425450/000110465924000146/0001104659-24-000146-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.