secwatch.observer — SEC 8-K summary
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Issuer:     Bandwidth Inc. (BAND)
CIK:        0001514416
Form:       8-K
Filed at:   2022-06-06T23:59:59+00:00
Accession:  0001514416-22-000114
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

Bandwidth secures $50M revolving credit facility maturing June 2025
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- $50.0M revolving credit facility with $20M letter-of-credit sublimit and $5M swingline subfacility.
- Interest at SOFR plus 1.50%-2.00% or base rate plus 0.50%-1.00%, depending on consolidated adjusted quick ratio.
- Secured by substantially all tangible/intangible assets and pledges of domestic subsidiary equity and 65% of material foreign subsidiary voting stock.
- Financial covenant requires consolidated adjusted quick ratio ≥1.25:1.00 if aggregate cash held at Silicon Valley Bank or under control agreements is below $70M.
- Quarterly commitment fee of 0.0625% on unused portion; matures June 6, 2025.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1514416/000151441622000114/0001514416-22-000114-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1514416/000151441622000114/band-20220606.htm
  HTML page:      https://secwatch.observer/filing/0001514416-22-000114

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