secwatch.observer — SEC 8-K summary
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Issuer:     Upland Software, Inc. (UPLD)
CIK:        0001505155
Form:       8-K
Filed at:   2025-07-28T23:59:59+00:00
Accession:  0001505155-25-000080
Event type: debt
Sentiment:  positive
Materiality: 0.65
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Upland Software completes $240M debt refinancing with Sound Point Capital, maturity extended to 2031
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- New $240M term loan matures July 2031; proceeds redeemed $258M prior facility.
- Interest rate set at SOFR + 6.00% (floor 1.50%); quarterly amortization begins at 2.5% p.a.
- Also received $30M revolving credit facility for working capital and general corporate purposes.
- Covenant tested quarterly: secured leverage ratio limited to 6.0x.
- CEO cites enhanced financial flexibility to invest in AI-powered software solutions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1505155/000150515525000080/0001505155-25-000080-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1505155/000150515525000080/upld-20250725.htm
  HTML page:      https://secwatch.observer/filing/0001505155-25-000080

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