{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-26-112835","form_type":"8-K","ticker":"LOPE","cik":"0001434588","company_name":"Grand Canyon Education, Inc.","filed_at":"2026-10-01T20:15:14+00:00","discovered_at":"2026-10-01T20:16:00.272280+00:00","generated_at":"2026-10-12T14:23:08.414557+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"high","headline":"Grand Canyon Education opens $100M five-year revolver; SOFR+1.50-2.00%, matures 2031","bullets":["$100M senior secured revolver with Zions Bancorporation dba National Bank of Arizona as administrative agent; $10M letter-of-credit sublimit; matures Sept. 28, 2031.","Borrowings bear interest at one-month Term SOFR (0.00% floor) plus 1.50%-2.00% margin based on consolidated leverage ratio; 0.0625% quarterly unused fee; 2.00% LC fees.","Proceeds primarily to fund stock repurchases under board-approved program and general corporate purposes; accordion allows up to $100M additional commitments, total not to exceed $200M.","Financial covenants: minimum consolidated fixed charge coverage ratio 1.10x; maximum consolidated leverage ratio 2.00x; capex capped at $50M per fiscal year.","Events of default include cross-default/judgments exceeding $5M, change of control, delisting, and default under GCU master services agreement causing material adverse change."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-26-112835","json":"https://secwatch.observer/filing/0001104659-26-112835.json","markdown":"https://secwatch.observer/filing/0001104659-26-112835.md","text":"https://secwatch.observer/filing/0001104659-26-112835.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1434588/000110465926112835/0001104659-26-112835-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1434588/000110465926112835/lope-20260928x8k.htm"},"model":{"generated_by":"deepseek-v4.1-flash:cloud@v2","generated_at":"2026-10-12T14:23:08.414557+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":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}