Sprout Social amends credit facility; extends maturity to 2030, switches to leverage-based pricing

Sprout Social, Inc.

Maturity extended from Aug 1, 2028 to Apr 4, 2030 under First Amendment with MUFG Bank and other lenders.
Interest rate changed from liquidity-based to leverage-based: SOFR loans at SOFR+0.10% plus margin of 2.25%-2.75%.
Removed minimum liquidity and annual recurring revenue covenants; added maximum Consolidated Senior Net Leverage Ratio and minimum Consolidated Interest Coverage.
Undrawn commitment fee of 0.30% or 0.35% based on leverage ratio; obligations secured by substantially all assets and subsidiary equity.
Conditions include customary representations, no default, delivery of legal opinion, solvency certificate, and control agreements within 30 days.

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