---
schema_version: "secwatch.filing_event.v1"
accession: "0001563190-25-000202"
form_type: "8-K"
ticker: "COMP"
cik: "0001563190"
company_name: "Compass, Inc."
filed_at: "2025-11-17T23:59:59+00:00"
generated_at: "2026-05-16T19:15:24.085349+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Compass enters $250M revolver (expandable to $500M) to back Anywhere merger

## Summary
- Initial commitments of $250M; automatically increase to $500M upon closing of Anywhere Real Estate merger (Aspen Acquisition).
- Maturity Nov 17, 2030; interest at Term SOFR + 1.50%-2.25% based on leverage ratio.
- Pre-merger covenants: min liquidity $150M, min revenue $4B, max leverage 3.0x; post-merger: max leverage 5.0x stepping down.
- Letter of credit sublimit $100M (increases to $170M post-merger).
- Secured by first-priority security interest in substantially all assets of Compass and subsidiary guarantors.

## SEC filing metadata
- accession: 0001563190-25-000202
- form_type: 8-K
- ticker: COMP
- cik: 0001563190
- company_name: Compass, Inc.
- filed_at: 2025-11-17T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1563190/000156319025000202/0001563190-25-000202-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1563190/000156319025000202/comp-20251117.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001563190-25-000202
- JSON: https://secwatch.observer/filing/0001563190-25-000202.json
- Plain text: https://secwatch.observer/filing/0001563190-25-000202.txt

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