--- schema_version: "secwatch.filing_event.v1" accession: "0001193125-23-168420" form_type: "8-K" ticker: null cik: "0001333835" company_name: "Casa Systems Inc" filed_at: "2023-06-16T23:59:59+00:00" generated_at: "2026-06-13T22:26:26.198082+00:00" event_type: "debt" sentiment: "positive" materiality_score: 0.75 calibrated_materiality_score: 0.75 confidence: "high" source: SEC EDGAR --- # Casa Systems refinances $218.8M TLB, extends maturity to Dec 2027 ## Summary - 97.8% ($218.8M) of existing TLB lenders exchanged into new facility; $40M paydown at close. - New superpriority term loan of $178.8M matures Dec 2027, replacing Dec 2023 maturity. - Remaining $5M (2.2%) of existing TLB expected to be paid at Dec 2023 maturity. - Lenders receive warrants for up to 19.99% of common stock and registration rights. - Interest rate: SOFR+6.5% (with floor) stepping up if debt exceeds $125M; exit fees of 3%-20%. ## SEC filing metadata - accession: 0001193125-23-168420 - form_type: 8-K - cik: 0001333835 - company_name: Casa Systems Inc - filed_at: 2023-06-16T23:59:59+00:00 - event_type: debt - sentiment: positive - materiality_score: 0.75 - calibrated_materiality_score: 0.75 - confidence: high - sec_items: 1.01, 2.03, 7.01, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1333835/000119312523168420/0001193125-23-168420-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1333835/000119312523168420/d519018d8k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001193125-23-168420 - JSON: https://secwatch.observer/filing/0001193125-23-168420.json - Plain text: https://secwatch.observer/filing/0001193125-23-168420.txt ## Key facts - Debt Financings Casa Systems Inc incurred term loan of aggregate principal amount equal to 100% of the principal amount of such Purchased Loan with Participating Lenders at Adjusted Term SOFR Rate (subject to a 2.00% per annum floor) plus 6.50% per annu maturing December 20, 2027. - Instrument: term loan - Principal: aggregate principal amount equal to 100% of the principal amount of such Purchased Loan - Counterparty: Participating Lenders - Rate: Adjusted Term SOFR Rate (subject to a 2.00% per annum floor) plus 6.50% per annu - Maturity: December 20, 2027 - Event: incurrence source text: of Registrant as Specified in Its Charter) Delaware 001-38324 75-3108867 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.) 100 Old River Road Andover , Massachusetts 01810 (Address of Principal Executive Offices) (Zip Code) Registrant’s Telephone Number, Including Area Code: (978) 688-6706 (Former Name or evidence_url: https://www.sec.gov/Archives/edgar/data/1333835/000119312523168420/0001193125-23-168420-index.htm - Debt Financings Casa Systems Inc amended credit facility with JPMorgan Chase Bank, N.A.. - Instrument: credit facility - Counterparty: JPMorgan Chase Bank, N.A. - Event: amendment source text: On June 15, 2023, Casa entered into that certain First Amendment to the Existing Credit Agreement evidence_url: https://www.sec.gov/Archives/edgar/data/1333835/000119312523168420/0001193125-23-168420-index.htm - Material Agreements Casa Systems Inc entered into Superpriority Credit Agreement with JPMorgan Chase Bank, N.A., as administrative agent, Delaware Trust Company, as collateral agent, and the Participating Lenders, as lenders (effective 2023-06-15). - Action: entry - Agreement: credit facility - Counterparty: JPMorgan Chase Bank, N.A., as administrative agent, Delaware Trust Company, as collateral agent, and the Participating Lenders, as lenders - Effective: 2023-06-15 source text: On June 15, 2023, Casa entered into that certain Superpriority Credit Agreement (the "Superpriority Credit Agreement") with JPMorgan Chase Bank, N.A., as administrative agent, Delaware Trust Company, as collateral agent, and the Participating Lenders, as lenders. evidence_url: https://www.sec.gov/Archives/edgar/data/1333835/000119312523168420/0001193125-23-168420-index.htm - Material Agreements Casa Systems Inc amended First Amendment with JPMorgan Chase Bank, N.A., as administrative agent and as collateral agent (effective 2023-06-15). - Action: amendment - Agreement: credit facility - Counterparty: JPMorgan Chase Bank, N.A., as administrative agent and as collateral agent - Effective: 2023-06-15 source text: On June 15, 2023, Casa entered into that certain First Amendment to the Existing Credit Agreement (the "First Amendment") with JPMorgan Chase Bank, N.A., as administrative agent and as collateral agent whereby the Existing Credit Agreement was amended to remove (a) certain mandatory prepayments, (b) substantially all affirmative and negative covenants, and (c) certain events of default. evidence_url: https://www.sec.gov/Archives/edgar/data/1333835/000119312523168420/0001193125-23-168420-index.htm - Material Agreements Casa Systems Inc entered into Exchange Agreement with JPMorgan Chase Bank, N.A. and the lenders party thereto representing approximately 98% of the outstanding 2023 TLB Debt (the "Participating Lenders") (effective 2023-06-15). - Action: entry - Agreement: credit facility - Counterparty: JPMorgan Chase Bank, N.A. and the lenders party thereto representing approximately 98% of the outstanding 2023 TLB Debt (the "Participating Lenders") - Effective: 2023-06-15 source text: On June 15, 2023, Casa entered into that certain Exchange Agreement with the lenders party thereto representing approximately 98% of the outstanding 2023 TLB Debt (the "Participating Lenders") and JPMorgan Chase Bank, N.A. whereby Casa has offered to purchase and assume 100% of each Participating Lender's portion of the 2023 TLB Debt (the "Purchased Loans") in exchange for, among other things: evidence_url: https://www.sec.gov/Archives/edgar/data/1333835/000119312523168420/0001193125-23-168420-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.