---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-085842"
form_type: "8-K"
ticker: "KIDS"
cik: "0001425450"
company_name: "ORTHOPEDIATRICS CORP"
filed_at: "2024-08-05T23:59:59+00:00"
generated_at: "2026-05-31T13:03:01.629934+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# OrthoPediatrics secures up to $100M from Braidwell: $25M term loan + $25M delayed draw + $50M convertible notes

## Summary
- Term loan at SOFR + 6.50% (PIK option adds 1.00%), interest-only until August 2029 maturity.
- Convertible notes: $50M at 4.75% interest, due Feb 2030, convertible at ~$40.98/share (30% premium to VWAP).
- Proceeds used to repay ~$10M debt, pay ~$6.5M transaction fees, fund up to $5M stock repurchase, and general corporate purposes.
- Post-closing pro forma cash, cash equivalents & restricted cash would be ~$90M (excluding delayed draw); financial covenants require 25% cash collateral and minimum net product sales.
- Stock repurchase of up to $5M approved; represents ~169K shares (~0.7% of outstanding) at $29.56 close on Aug 2, 2024.

## SEC filing metadata
- accession: 0001104659-24-085842
- form_type: 8-K
- ticker: KIDS
- cik: 0001425450
- company_name: ORTHOPEDIATRICS CORP
- filed_at: 2024-08-05T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1425450/000110465924085842/0001104659-24-085842-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1425450/000110465924085842/tm2420817d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-085842
- JSON: https://secwatch.observer/filing/0001104659-24-085842.json
- Plain text: https://secwatch.observer/filing/0001104659-24-085842.txt

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