Corsair Gaming amends credit agreement; relaxes leverage and coverage covenants, increases interest margins

Corsair Gaming, Inc.

Minimum interest coverage ratio reduced to 2.50x for Q1–Q4 2023 (from 3.00x previously).
Maximum net leverage ratio raised to 3.75x for Q4 2022–Q1 2023, stepping to 3.25x by Q4 2023.
Interest margins increased; BSBY rate margin now up to 3.25% (previously up to 2.25%) during Specified Pricing Period.
Cash netting threshold for leverage compliance temporarily raised to $125M from $75M during Specified Period.
New Specified Period Conditions apply to acquisitions and restricted payments through Dec 2023.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Corsair Gaming, Inc. amended Third Amendment to the Credit Agreement with Bank of America, N.A., as administrative agent and a lender, and the lenders party thereto (effective 2022-11-28).

Action: amendment
Agreement: credit facility
Counterparty: Bank of America, N.A., as administrative agent and a lender, and the lenders party thereto
Effective: 2022-11-28

Exact text from the filing

On November 28, 2022, Corsair Gaming, Inc. (the “Company”) entered into a Third Amendment (the “Third Amendment”) to the Credit Agreement, dated as of September 3, 2021, among the Company, the domestic subsidiaries of the Company party thereto as guarantors, the lenders party thereto, and Bank of America, N.A., as administrative agent and a lender (such credit agreement, as amended through the Third Amendment, the “Credit Agreement”).

View on SEC.gov

24 material agreements filed in the last 30 days. Browse all material agreements →

Corsair Gaming, Inc. filing history →

Source: SEC EDGAR

accession 0001564590-22-039197

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.