secwatch.observer — SEC 8-K summary
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Issuer:     STANDARD PREMIUM FINANCE HOLDINGS, INC. (SPFX)
CIK:        0001807893
Form:       8-K
Filed at:   2022-12-05T23:59:59+00:00
Accession:  0001553350-22-000988
Event type: debt
Sentiment:  positive
Materiality: 0.50
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Standard Premium Finance extends $45M revolver maturity to Nov 2025, swaps LIBOR for SOFR, cuts facility fee
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- Maturity extended to November 30, 2025; index rate changed from one-month LIBOR to one-month SOFR.
- Minimum Tangible Net Worth covenant set at $13.5M; prior $8.5M subordinated debt requirement removed.
- Annual facility fee reduced from 0.35% to 0.25% of committed amount ($45M).
- Applicable margin tiered based on Total Liabilities/Tangible Net Worth (starting at 2.75%).
- Borrower paid $112,500 amendment fee; all other material terms unchanged.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1807893/000155335022000988/0001553350-22-000988-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1807893/000155335022000988/spfx_8k.htm
  HTML page:      https://secwatch.observer/filing/0001553350-22-000988

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