eHealth closes $125M asset-based revolver with Manulife | Comvest; repays $70M Blue Torch Loan

eHealth, Inc.

New $125M revolving credit facility matures Dec 2028; SOFR + 6.50% interest rate, lower than prior term loan.
Proceeds used to repay $70M outstanding under Blue Torch term loan; balance for AI, omni-channel, and growth initiatives.
Borrowing base includes up to $50M cash plus net commission streams; option to increase commitments by $50M.
Amendment to H.I.G. investment agreement permits the facility, adds strategy committee with H.I.G. designee.
Liquidity covenant breach triggers 2% increase in PIK dividend rate on Series A preferred stock until cured.

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