secwatch.observer — SEC 8-K summary
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Issuer:     EXTREME NETWORKS INC (EXTR)
CIK:        0001078271
Form:       8-K
Filed at:   2026-07-30T11:17:15+00:00
Accession:  0001193125-26-324888
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Extreme Networks enters $500M revolving credit facility, repays existing debt
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- New 5-year $500M revolver with JPMorgan as admin agent, matures July 29, 2031.
- Borrowed $200M at closing to repay existing credit facility; $300M remains available.
- Interest rates: SOFR + 1.25%-2.00% or base rate + 0.25%-1.00%, based on leverage.
- Financial covenants: interest coverage ≥3.00x, total net leverage ≤3.75x (step-up to 4.25x for acquisitions).
- Uncommitted accordion feature up to $175M plus additional amounts.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1078271/000119312526324888/0001193125-26-324888-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1078271/000119312526324888/extr-20260729.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-324888

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer