secwatch.observer — SEC 8-K summary
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Issuer:     ASURE SOFTWARE INC (ASUR)
CIK:        0000884144
Form:       8-K
Filed at:   2025-04-10T23:59:59+00:00
Accession:  0001104659-25-033818
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Asure Software enters $60M credit facility; $20M funded at closing
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/884144/000110465925033818/0001104659-25-033818-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/884144/000110465925033818/tm2512062d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-033818

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