{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-25-033818","form_type":"8-K","ticker":"ASUR","cik":"0000884144","company_name":"ASURE SOFTWARE INC","filed_at":"2025-04-10T23:59:59+00:00","discovered_at":"2026-05-14T18:02:51.597771+00:00","generated_at":"2026-05-23T17:53:07.928740+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":"Asure Software enters $60M credit facility; $20M funded at closing","bullets":["Up to $60M total; $20M funded on April 10, 2025; remaining $40M available through March 2027 subject to leverage ratio <4.50x.","Interest at Term SOFR + 5.00% (SOFR floor 2.00%); interest-only payments until April 1, 2029, then 12-month straight-line amortization.","Maturity April 1, 2030; covenants include Total Leverage Ratio ≤5.50:1 and minimum liquidity of 10% of outstanding loan.","Proceeds used for transaction fees, working capital, and future permitted acquisitions; prepayment penalties of 3%/2%/1% in first three years.","Guarantors include five Asure subsidiaries; administrative agent is MidCap Financial Trust."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-25-033818","json":"https://secwatch.observer/filing/0001104659-25-033818.json","markdown":"https://secwatch.observer/filing/0001104659-25-033818.md","text":"https://secwatch.observer/filing/0001104659-25-033818.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/884144/000110465925033818/0001104659-25-033818-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/884144/000110465925033818/tm2512062d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-23T17:53:07.928740+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":"e0fbfc010f6eee42744d14220460916c01775cb8","claim":"ASURE SOFTWARE INC incurred credit facility of up to $60 million with MidCap Financial Trust at Term SOFR plus 5.00%, subject to a SOFR floor of 2.00% maturing April 1, 2030.","evidence_excerpt":"On April 10, 2025, Asure Software, Inc. (the “Company”) entered into a Credit, Security and Guaranty Agreement (the “Agreement”), by and among the Company, Asure Operations LLC, Asure Customer & IP Holdco LLC, Asure Payroll Tax Management LLC, Asure Benefits Management LLC, Asure Treasury Management, LLC, MidCap Financial Trust (“MidCap”) and the lenders from time to time party thereto (such lenders collectively with MidCap, the “Lenders”). Under the Agreement, the Company may borrow up to $60 million from the Lenders, with $20 million funded as of the closing date of the Agreement (the “Closing Date”).","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/884144/000110465925033818/0001104659-25-033818-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Principal","value":"up to $60 million"},{"label":"Counterparty","value":"MidCap Financial Trust"},{"label":"Rate","value":"Term SOFR plus 5.00%, subject to a SOFR floor of 2.00%"},{"label":"Maturity","value":"April 1, 2030"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}