{"schema_version":"secwatch.filing_event.v1","accession":"0001437749-23-026646","form_type":"8-K","ticker":"TCX","cik":"0000909494","company_name":"TUCOWS INC /PA/","filed_at":"2023-09-25T23:59:59+00:00","discovered_at":"2026-05-14T18:03:36.984124+00:00","generated_at":"2026-06-10T09:25:29.219470+00:00","sec_items":["1.01","1.02","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.4,"calibrated_materiality_score":0.4,"confidence":"high","headline":"Tucows enters $240M revolving credit facility with BMO, replacing RBC facility","bullets":["New $240M revolving credit facility with Bank of Montreal as agent, matures September 22, 2026.","Accordion feature allows up to $60M increase if Total Funded Debt to Adjusted EBITDA ratio <3.75:1.","Interest margins and fees vary with leverage: base rate margins 0.25%-2.25%, SOFR/CDOR margins 1.50%-3.50%.","Financial covenants: max leverage ratio 4.50:1 declining to 3.75:1; minimum interest coverage 3.00:1.","Prior $240M RBC facility paid off and terminated upon receipt of backstop letters of credit from BMO."],"urls":{"canonical":"https://secwatch.observer/filing/0001437749-23-026646","json":"https://secwatch.observer/filing/0001437749-23-026646.json","markdown":"https://secwatch.observer/filing/0001437749-23-026646.md","text":"https://secwatch.observer/filing/0001437749-23-026646.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/909494/000143774923026646/0001437749-23-026646-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/909494/000143774923026646/tcx20230922_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-10T09:25:29.219470+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"d3fc9fe3834d7cc6b4b38073356cfed308c16be7","claim":"TUCOWS INC /PA/ incurred credit facility of $240,000,000 revolving credit facility with Bank of Montreal at Based on Total Funded Debt to Adjusted EBITDA ratio tiers ranging from 1.50% to maturing September 22, 2026.","evidence_excerpt":"On September 22, 2023, Tucows Inc. (the “Company”) and its wholly owned subsidiaries, Tucows.com Co., Ting Inc., Tucows (Delaware) Inc., Wavelo, Inc. and Tucows (Emerald), LLC (each, a “Borrower” and together, the “Borrowers,” collectively with the Company, “Tucows”) and certain other subsidiaries of the Company, as guarantors, entered into a Credit Agreement (the “Credit Agreement”) with Bank of Montreal, as administrative agent (“BMO” or the “Agent”), and the lenders party thereto, to, among other things, provide the Borrowers with a revolving credit facility in an aggregate amount not to exceed $240,000,000 (the “Credit Facility”).","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/909494/000143774923026646/0001437749-23-026646-index.htm","confidence":0.95,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Principal","value":"$240,000,000 revolving credit facility"},{"label":"Counterparty","value":"Bank of Montreal"},{"label":"Rate","value":"Based on Total Funded Debt to Adjusted EBITDA ratio tiers ranging from 1.50% to"},{"label":"Maturity","value":"September 22, 2026"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}