Asure Software closes $115M MUFG credit facility and acquires SEUS payroll assets for $26.5M

ASURE SOFTWARE INC

Entered $115M senior credit facility with MUFG: $85M term loan drawn at closing, $10M revolver, $20M delayed-draw term loan; initial rate 7.04249% (Term SOFR + 3.00%).
Term loan amortizes quarterly from April 1, 2027: 2.5% year 1, 5% years 2-3, 7.5% years 4-5; maturity Oct 15, 2031; leverage covenant ≤3.50x, fixed charge ≥1.25x.
Terminated MidCap Financial credit agreement, paying ~$62.6M payoff consisting of $60.2M principal/interest and $2.4M prepayment/termination fees.
Acquired SEUS payroll processing assets for $26.5M: $13.5M cash, $3.0M note due April 15, 2028 at 3.00%, and 1,206,141 shares valued at $8.29 ($10M).
Revolver and delayed-draw term loan undrawn at closing; proceeds also for Permitted Acquisitions and working capital; facility secured by substantially all assets.

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