POWERSCHOOL HOLDINGS, INC.: debt financing — PowerSchool adds $100M incremental term loans to finance SchoolMessenger acquisition

POWERSCHOOL HOLDINGS, INC.

Incurred $100M incremental term loans via Amendment No. 5 to First Lien Credit Agreement.
Proceeds used to fund acquisition of SM NewCo and SMessenger Technologies (SchoolMessenger).
Barclays Bank PLC served as sole 2023 Incremental Lender and Administrative Agent.
Incremental term loans are fungible with existing term loans under same terms and maturity.
Acquisition previously announced on July 10, 2023 under Equity Purchase Agreement.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

POWERSCHOOL HOLDINGS, INC. incurred term loan of $100 million aggregate principal amount of incremental term loans with Barclays Bank PLC, as the administrative agent, and the lenders party thereto.

Instrument: term loan
Principal: $100 million aggregate principal amount of incremental term loans
Counterparty: Barclays Bank PLC, as the administrative agent, and the lenders party thereto
Event: incurrence

Exact text from the filing

the Borrowers incurred an additional $100 million aggregate principal amount of incremental term loans (the "Incremental Term Loans") under its term loan facility (the "Term Loan Facility").

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Source: SEC EDGAR

accession 0001193125-23-203857

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