---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-23-016247"
form_type: "8-K"
ticker: "WLDN"
cik: "0001370450"
company_name: "Willdan Group, Inc."
filed_at: "2023-10-05T23:59:59+00:00"
generated_at: "2026-06-10T03:51:09.260406+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Willdan Group refinances with $150M credit facility, extends maturity to 2026

## Summary
- New $100M term loan and $50M revolving credit facility, each maturing Sept 2026.
- Proceeds used to repay $97M outstanding under prior facility due June 2024; no penalty.
- Credit agreement imposes financial covenants and limits dividends and share repurchases.
- CEO Tom Brisbin states refinancing positions company for continued growth momentum.

## SEC filing metadata
- accession: 0001558370-23-016247
- form_type: 8-K
- ticker: WLDN
- cik: 0001370450
- company_name: Willdan Group, Inc.
- filed_at: 2023-10-05T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 3.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1370450/000155837023016247/0001558370-23-016247-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1370450/000155837023016247/wldn-20230929x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-23-016247
- JSON: https://secwatch.observer/filing/0001558370-23-016247.json
- Plain text: https://secwatch.observer/filing/0001558370-23-016247.txt

## Key facts
- Debt Financings
  Willdan Group, Inc. incurred credit facility of $100.0 million term loan and $50.0 million revolving credit facility with BMO Bank, N.A. at Base Rate or adjusted SOFR plus an applicable margin ranging from 0.75% to 2.00% maturing September 29, 2026.
  - Instrument: credit facility
  - Principal: $100.0 million term loan and $50.0 million revolving credit facility
  - Counterparty: BMO Bank, N.A.
  - Rate: Base Rate or adjusted SOFR plus an applicable margin ranging from 0.75% to 2.00%
  - Maturity: September 29, 2026
  - Event: incurrence
  source text: by and among the Company, the guarantors party thereto, BMO as administrative agent and lender and the lenders party thereto. ​ The Credit Agreement provides for (i) a $100.0 million term loan (the “Term Loan”) and (ii) a $50.0 million revolving credit facility (the “Revolving Credit Facility”, and collectively with the Term Loan, the “Credit Facilities”),
  evidence_url: https://www.sec.gov/Archives/edgar/data/1370450/000155837023016247/0001558370-23-016247-index.htm
- Material Agreements
  Willdan Group, Inc. entered into Credit Agreement with BMO Bank, N.A. as administrative agent valued at $100 million term loan and $50 million revolving credit facility (effective 2023-09-29).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: BMO Bank, N.A. as administrative agent
  - Value: $100 million term loan and $50 million revolving credit facility
  - Effective: 2023-09-29
  source text: On September 29, 2023 (the “Closing Date”), Willdan Group, Inc. (the “Company”) and certain of its subsidiaries entered into a credit agreement (the “Credit Agreement”) with a syndicate of financial institutions as lenders and BMO Bank, N.A. (“BMO”), as administrative agent.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1370450/000155837023016247/0001558370-23-016247-index.htm
- Material Agreements
  Willdan Group, Inc. terminated Prior Credit Agreement with BMO Bank, N.A. valued at Amended and Restated Credit Agreement dated June 26, 2019 with $100.0 million secured term loan ($60 (effective 2023-09-29).
  - Action: termination
  - Agreement: credit facility
  - Counterparty: BMO Bank, N.A.
  - Value: Amended and Restated Credit Agreement dated June 26, 2019 with $100.0 million secured term loan ($60
  - Effective: 2023-09-29
  source text: On September 29, 2023, using proceeds from the Term Loan, the Company repaid in full all of its outstanding obligations under the Prior Credit Agreement.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1370450/000155837023016247/0001558370-23-016247-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.