Phreesia, Inc. (PHR): M&A transaction — Phreesia completes $163M acquisition of AccessOne, funded with $110M bridge loan

Phreesia, Inc.

Acquired AccessOne Parent Holdings for approx. $163M in cash on Nov. 12, 2025, using $107M net from new $110M bridge loan, $50M balance sheet cash, and $6M acquired cash.
Entered 364-day $110M secured bridge credit agreement with Goldman Sachs Bank USA as agent; entire amount funded at closing.
Bridge loan bears SOFR plus applicable margin; duration fees of 0.75%, 1.25%, 1.50% apply if outstanding beyond 90, 180, 270 days; matures Nov. 11, 2026.
Amended existing Capital One ABL credit facility to accommodate the acquisition and bridge loan, deeming them permitted transactions.
Company expects to refinance or replace the bridge loan with a long-term credit facility.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Phreesia, Inc. incurred term loan of $110 million secured term loan with Goldman Sachs Bank USA at forward-looking Secured Overnight Financing Rate (such borrowings, “SOFR Loans”) maturing November 11, 2026.

Instrument: term loan
Principal: $110 million secured term loan
Counterparty: Goldman Sachs Bank USA
Rate: forward-looking Secured Overnight Financing Rate (such borrowings, “SOFR Loans”)
Maturity: November 11, 2026
Event: incurrence

Exact text from the filing

On the Closing Date, in connection with the closing of the AccessOne Acquisition, the Company entered into a bridge loan credit agreement (the “Bridge Credit Agreement”) by and among the Company, the lenders from time to time party thereto, and Goldman Sachs Bank USA, as administrative agent, collateral agent, sole lead arranger and bookrunner, with respect to a 364-day $110 million secured term loan (the “Bridge Loan”).

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M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Phreesia, Inc. completed an acquisition involving AccessOne Parent Holdings, Inc. for approximately $163 million in cash (closed 2025-11-12).

Action: acquisition
Counterparty: AccessOne Parent Holdings, Inc.
Consideration: approximately $163 million in cash
Closing: 2025-11-12

Exact text from the filing

above is incorporated by reference into this Item 2.01. In accordance with the Merger Agreement, AccessOne's equityholders received consideration transferred of approximately $163 million in cash, subject to certain customary purchase price adjustments set forth in the Merger Agreement. The purchase price was funded by approximately (i) $107 million of net

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Phreesia, Inc. filing history →

Source: SEC EDGAR

accession 0001412408-25-000114

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