secwatch.observer — SEC 8-K summary
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Issuer:     Knight-Swift Transportation Holdings Inc. (KNX)
CIK:        0001492691
Form:       8-K
Filed at:   2023-06-27T23:59:59+00:00
Accession:  0001492691-23-000058
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

Knight-Swift enters $250M unsecured term loan to fund U.S. Xpress acquisition
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- Knight-Swift entered a $250M unsecured term loan on June 22, 2023, to fund its acquisition of U.S. Xpress Enterprises.
- Loan matures Sept 3, 2026; interest rate at SOFR + 0.10% + 1.375% (leverage-based grid); no scheduled principal payments.
- Agreement automatically terminates on Dec 20, 2023, if the U.S. Xpress acquisition is not consummated.
- Lenders include Bank of America, PNC Bank, and Wells Fargo; terms similar to existing $2.3B credit facility.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1492691/000149269123000058/0001492691-23-000058-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1492691/000149269123000058/knx-20230622.htm
  HTML page:      https://secwatch.observer/filing/0001492691-23-000058

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer