secwatch.observer — SEC 8-K summary
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Issuer:     Sezzle Inc. (SEZL)
CIK:        0001662991
Form:       8-K
Filed at:   2024-04-22T23:59:59+00:00
Accession:  0001213900-24-034952
Event type: debt
Sentiment:  positive
Materiality: 0.65
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1662991/000121390024034952/0001213900-24-034952-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1662991/000121390024034952/ea0204320-8k_sezzleinc.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-034952

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