secwatch.observer — SEC 8-K summary
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Issuer:     Vera Bradley, Inc. (VRA)
CIK:        0001495320
Form:       8-K
Filed at:   2023-08-08T23:59:59+00:00
Accession:  0001495320-23-000049
Event type: debt
Sentiment:  positive
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Vera Bradley amends credit facility: maturity extended to 2028, SOFR replaces LIBOR, up to $50M accordion added
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- Maturity extended to May 2028; Creative Genius, LLC added as a borrower.
- Borrowers may increase aggregate principal by up to $50.0 million via accordion feature.
- Commitment fee set at 0.20% or 0.30% based on average quarterly utilization.
- CB Floating Rate = greater of prime or 2.50%; term borrowings switch from LIBOR to adjusted Term SOFR + 0.10%.
- Fixed charge coverage ratio ≥1.00x triggered when availability < ~$9.4M or 12.5% of borrowing base.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1495320/000149532023000049/0001495320-23-000049-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1495320/000149532023000049/vra-20230803.htm
  HTML page:      https://secwatch.observer/filing/0001495320-23-000049

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