secwatch.observer — SEC 8-K summary
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Issuer:     Compass, Inc. (COMP)
CIK:        0001563190
Form:       8-K
Filed at:   2025-11-17T23:59:59+00:00
Accession:  0001563190-25-000202
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1563190/000156319025000202/0001563190-25-000202-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1563190/000156319025000202/comp-20251117.htm
  HTML page:      https://secwatch.observer/filing/0001563190-25-000202

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