secwatch.observer — SEC 8-K summary
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Issuer:     ASURE SOFTWARE INC (ASUR)
CIK:        0000884144
Form:       8-K
Filed at:   2026-10-16T20:15:27+00:00
Accession:  0001104659-26-116616
Event type: debt
Sentiment:  positive
Materiality: 0.70
Item codes: 1.01, 8.01, 1.02, 2.03, 3.02, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/884144/000110465926116616/0001104659-26-116616-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/884144/000110465926116616/tm2627663d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-116616

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