Trupanion enters $60M initial term loan, up to $90M additional debt facility with Piper Sandler

TRUPANION, INC.

Initial term loan of $60.0 million funded on March 25, 2022, due March 25, 2027.
Delayed draw term loans of up to $75.0 million available until September 25, 2023; revolving loans up to $15.0 million.
Interest rates: ABR loans at base rate + 4.0%; SOFR loans at term SOFR + 5.0%.
Loans secured by substantially all assets; proceeds for acquisitions, investments, and working capital.
Covenants include minimum quarterly revenue and liquidity thresholds.

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