Doma Holdings, Inc.: debt financing — Doma subsidiary States Title secures $22.5M senior secured term loan facility

Doma Holdings, Inc.

States Title enters $22.5M senior secured delayed draw term loan; two tranches: $12.5M (Tranche A) and $10M (Tranche B).
Interest: Term SOFR (1.0% floor) + 9% p.a., payable in kind; undrawn fee 5% p.a., upfront fee 3%.
Each tranche matures three years after draw; facility secured by first-priority lien on substantially all assets.
Sixth Amendment to subordinated loan with HSCM executed concurrently to align with intercreditor agreement.
Proceeds used for working capital and general corporate purposes.

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

Doma Holdings, Inc. incurred term loan of $22.5 million at Term SOFR (subject to a 1.0% floor) plus 9.0% per annum maturing three years after it is drawn.

Instrument: term loan
Principal: $22.5 million
Rate: Term SOFR (subject to a 1.0% floor) plus 9.0% per annum
Maturity: three years after it is drawn
Event: incurrence

Exact text from the filing

Pursuant to the Senior Loan Agreement, the lenders party thereto have committed, on a several basis, to provide States Title with a $22.5 million senior secured delayed draw term loan facility (the “Senior Term Facility”) (with certain subsidiaries of States Title guaranteeing the obligations thereunder).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Doma Holdings, Inc. entered into Senior Loan and Security Agreement with the lenders party thereto and Alter Domus (US) LLC as administrative agent and collateral agent valued at $22.5 million senior secured delayed draw term loan facility (effective 2024-04-30).

Action: entry
Agreement: credit facility
Counterparty: the lenders party thereto and Alter Domus (US) LLC as administrative agent and collateral agent
Value: $22.5 million senior secured delayed draw term loan facility
Effective: 2024-04-30

Exact text from the filing

On April 30, 2024, pursuant to the Topco Commitment Letter, States Title and certain of its subsidiaries entered into a Senior Loan and Security Agreement (the “Senior Loan Agreement”) with the lenders party thereto and Alter Domus (US) LLC as administrative agent and collateral agent.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Doma Holdings, Inc. amended Sixth Amendment to Loan and Security Agreement with the lenders party thereto and HSCM (effective 2024-04-30).

Action: amendment
Agreement: credit facility
Counterparty: the lenders party thereto and HSCM
Effective: 2024-04-30

Exact text from the filing

Concurrently with the entry into the Senior Term Facility, States Title and certain of its subsidiaries, the lenders party thereto and HSCM entered into a Sixth Amendment to Loan and Security Agreement (the “Sixth Amendment”), pursuant to which, among other things, HSCM and the lenders party thereto consented to the terms of the Senior Loan Agreement and implemented certain other changes to align with the terms of the Subordination Agreement.

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Source: SEC EDGAR

accession 0001437749-24-014381

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