---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-24-034952"
form_type: "8-K"
ticker: "SEZL"
cik: "0001662991"
company_name: "Sezzle Inc."
filed_at: "2024-04-22T23:59:59+00:00"
generated_at: "2026-06-03T14:05:32.287876+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Sezzle secures $150M credit facility at SOFR+6.75%, replacing prior $100M facility at SOFR+11.50%

## Summary
- New $150M facility (plus $75M accordion) matures April 19, 2027.
- Interest rate reduced to 3-month Term SOFR + 6.75% from prior SOFR + 11.50%.
- Advance rate 85%-90% of eligible originations; minimum utilization $60M (down from $80M).
- Proceeds repaid $72M outstanding under prior Bastion facility.
- CFO says lower-cost facility enhances ability to fund growth in US and Canada.

## SEC filing metadata
- accession: 0001213900-24-034952
- form_type: 8-K
- ticker: SEZL
- cik: 0001662991
- company_name: Sezzle Inc.
- filed_at: 2024-04-22T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1662991/000121390024034952/0001213900-24-034952-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1662991/000121390024034952/ea0204320-8k_sezzleinc.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-24-034952
- JSON: https://secwatch.observer/filing/0001213900-24-034952.json
- Plain text: https://secwatch.observer/filing/0001213900-24-034952.txt

## Key facts
- Debt Financings
  Sezzle Inc. incurred revolving credit of up to $150.0 million with Bastion Funding VI LP at 3-month Term SOFR plus 6.75% maturing April 19, 2027.
  - Instrument: revolving credit
  - Principal: up to $150.0 million
  - Counterparty: Bastion Funding VI LP
  - Rate: 3-month Term SOFR plus 6.75%
  - Maturity: April 19, 2027
  - Event: incurrence
  source text: On April 19, 2024, Sezzle Funding SPE II, LLC (the Borrower), a wholly owned indirect subsidiary of Sezzle Inc. (the Company), entered into a senior secured asset-based revolving credit facility (the new revolving credit facility), with a borrowing capacity of up to $150.0 million, which is governed by a Revolving Credit and Security Agreement (the Credit Agreement) entered into by the Borrower, certain lenders party thereto and Bastion Funding VI LP, as administrative agent (the Agent).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1662991/000121390024034952/0001213900-24-034952-index.htm
- Material Agreements
  Sezzle Inc. entered into Credit Agreement with Bastion Funding VI LP, as administrative agent, and certain lenders valued at $150.0 million (effective 2024-04-19).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Bastion Funding VI LP, as administrative agent, and certain lenders
  - Value: $150.0 million
  - Effective: 2024-04-19
  source text: On April 19, 2024, Sezzle Funding SPE II, LLC (the Borrower), a wholly owned indirect subsidiary of Sezzle Inc. (the Company), entered into a senior secured asset-based revolving credit facility (the new revolving credit facility), with a borrowing capacity of up to $150.0 million, which is governed by a Revolving Credit and Security Agreement (the Credit Agreement) entered into by the Borrower, certain lenders party thereto and Bastion Funding VI LP, as administrative agent (the Agent).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1662991/000121390024034952/0001213900-24-034952-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.