secwatch.observer — SEC 8-K summary
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Issuer:     Oscar Health, Inc. (OSCR)
CIK:        0001568651
Form:       8-K
Filed at:   2023-12-29T23:59:59+00:00
Accession:  0001193125-23-305664
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Oscar Health amends credit facility; maturity extended to Dec 2025, commitments cut to $115M
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- Third Amendment to Credit Agreement dated Dec 28, 2023 extends revolving loan maturity to Dec 28, 2025.
- Total revolving commitments reduced to $115M from prior level; option to increase by up to $50M subject to conditions.
- Floating interest rate unchanged: SOFR + 4.50% or base rate + 3.50%.
- New financial covenants include minimum direct premiums per quarter, maximum medical loss ratio, minimum adjusted EBITDA, and minimum liquidity thresholds.
- Bank of America assigned its commitments to Blue Ridge Investments, L.L.C. effective immediately before the amendment.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1568651/000119312523305664/0001193125-23-305664-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1568651/000119312523305664/d575624d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-305664

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