secwatch.observer — SEC 8-K summary
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Issuer:     Warby Parker Inc. (WRBY)
CIK:        0001504776
Form:       8-K
Filed at:   2024-02-23T23:59:59+00:00
Accession:  0001104659-24-027029
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Warby Parker secures $120M revolving credit facility, replaces prior Comerica deal
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- Revolving facility up to $120M, expandable to $175M via accordion; matures February 2029.
- No borrowings drawn at close; proceeds for working capital and general corporate purposes.
- Prior $120M Comerica facility terminated; $4.3M in letters of credit cash collateralized.
- Interest at prime plus 0.65-0.90% or adjusted SOFR plus 1.65-1.90%, based on leverage.
- Financial covenant (max senior net leverage 3.00:1.00) applies only when borrowings exceed $30M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1504776/000110465924027029/0001104659-24-027029-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1504776/000110465924027029/tm247075d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-027029

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