Climb Global Solutions, Inc. (CLMB): debt financing — Climb Global Solutions signs $50M revolving credit facility with JPMorgan Chase, replacing $20M Citibank line

Climb Global Solutions, Inc.

Five-year secured revolving facility of up to $50M, with accordion feature to increase to $70M.
Replaces existing $20M Citibank line set to expire June 2023; no amounts drawn at closing.
Interest rate based on Adjusted Term SOFR plus 1.50%-1.75%; commitment fee 0.10%-0.20%.
Proceeds for working capital, general corporate purposes, and permitted acquisitions.
CEO Dale Foster states facility provides incremental liquidity for organic and inorganic growth.

item 1.01 item 1.02 item 2.03 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Climb Global Solutions, Inc. incurred revolving credit of up to $50.0 million with JPMorgan Chase Bank, N.A. at ABR plus the Applicable Rate maturing May 18, 2028.

Instrument: revolving credit
Principal: up to $50.0 million
Counterparty: JPMorgan Chase Bank, N.A.
Rate: ABR plus the Applicable Rate
Maturity: May 18, 2028
Event: incurrence

Exact text from the filing

The Credit Agreement provides for a revolving credit facility of up to $50.0 million

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Climb Global Solutions, Inc. entered into revolving credit agreement with JPMorgan Chase Bank, N.A. valued at revolving credit facility of up to $50.0 million (effective 2023-05-18).

Action: entry
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A.
Value: revolving credit facility of up to $50.0 million
Effective: 2023-05-18

Exact text from the filing

On May 18, 2023 (the “Closing Date”), Climb Global Solutions, Inc. (the “Company”) entered into a revolving credit agreement (the “Credit Agreement”) by and among the Company, Programmer’s Paradise, Inc. (“Paradise”), Climb Channel Solutions, Inc. (“Solutions”), Techxtend, Inc. (“Tech”), ISP International Software Partners, Inc. (“International”), Interwork Technologies Inc. (“Interwork” and, together with the Company, Paradise, Solutions, Tech, and International, the “U.S. Borrowers”), Climb Global Solutions Holdings UK LTD (“CGS UK”), Climb Global Solutions LTD (“CGSL” and, together with CGS UK, the “U.K. Borrowers” and, together with the U.S. Borrowers, the “Borrowers”), the other Loan Parties party thereto, the Lenders party thereto, and JPMorgan Chase Bank, N.A. (“JPM”), as Administrative Agent.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Climb Global Solutions, Inc. terminated existing revolving credit agreement with Citibank, N.A. valued at termination of existing revolving credit agreement dated November 15, 2017 (effective 2023-05-18).

Action: termination
Agreement: credit facility
Counterparty: Citibank, N.A.
Value: termination of existing revolving credit agreement dated November 15, 2017
Effective: 2023-05-18

Exact text from the filing

In connection with entering into the Credit Agreement, the Company voluntarily terminated that certain existing revolving credit agreement, dated November 15, 2017, by and among the Company, certain subsidiaries of the Company and Citibank, N.A.

View on SEC.gov

114 debt financings filed in the last 30 days. Browse all debt financings →

Climb Global Solutions, Inc. filing history →

Source: SEC EDGAR

accession 0001558370-23-010337

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.