KINGSWAY FINANCIAL SERVICES INC (KFS): debt financing — Kingsway acquires Roundhouse Electric for $22.35M enterprise value; financed with $11M term loan

KINGSWAY FINANCIAL SERVICES INC

Acquired Roundhouse Electric & Equipment for enterprise valuation of $22.35M; paid $3.5M in phantom equity and cash consideration.
Financed with $11M term loan (10-yr), $500K revolver, and $750K equipment line from Main Street Bank.
Credit agreement includes covenants: Debt Service Coverage Ratio >=1.20x, Senior Funded Debt <=3.00x, Total Funded Debt <=4.00x.
Transaction closed July 1, 2025; cash consideration subject to working capital adjustment with $1.313M escrow.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

KINGSWAY FINANCIAL SERVICES INC incurred credit facility of $11 million term loan plus $500,000 revolving credit facility plus $750,000 equipment loan with Main Street Bank at Term Loan: 1-month Term SOFR Rate plus 3.30% (min 5.00%); Revolver: Wall Street maturing ten year term loan.

Instrument: credit facility
Principal: $11 million term loan plus $500,000 revolving credit facility plus $750,000 equipment loan
Counterparty: Main Street Bank
Rate: Term Loan: 1-month Term SOFR Rate plus 3.30% (min 5.00%); Revolver: Wall Street
Maturity: ten year term loan
Event: incurrence

Exact text from the filing

On July 1, 2025, Kingsway Buyer and Roundhouse (collectively, " Borrowers ") entered into a new secured term credit facility (together with the term loan note and revolving demand line of credit note, the " Credit Agreement ") with Main Street Bank as lender (" Lender "). The new facility comprises a ten year $11 million term loan (the " Term Loan "), a revolving credit facility of up to $500,000 (the " Revolver ") and a non-revolving equipment guidance line of credit facility of up to $750,000 (the " Equipment Loan ").

View on SEC.gov

305 debt financings filed in the last 30 days. Browse all debt financings →

KINGSWAY FINANCIAL SERVICES INC filing history →

Source: SEC EDGAR

accession 0001437749-25-022212

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.