---
schema_version: "secwatch.filing_event.v1"
accession: "0001627475-26-000039"
form_type: "8-K"
ticker: "UPWK"
cik: "0001627475"
company_name: "UPWORK, INC"
filed_at: "2026-06-23T20:45:35+00:00"
generated_at: "2026-06-23T20:46:16.674624+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Upwork enters $150M secured revolving credit facility with Bank of America, maturing 2029

## Summary
- $150M secured revolver with $10M L/C sublimit; option to increase by $50M.
- Matures June 23, 2029; interest: Term SOFR + 2.00%-2.50% or Base Rate + 1.00%-1.50%.
- Proceeds for working capital, debt repayment, acquisitions, and general corporate purposes.
- Covenants: net leverage and fixed charge coverage ratios; secured by substantially all assets.
- Joint lead arrangers: BofA Securities and Wells Fargo Securities.

## SEC filing metadata
- accession: 0001627475-26-000039
- form_type: 8-K
- ticker: UPWK
- cik: 0001627475
- company_name: UPWORK, INC
- filed_at: 2026-06-23T20:45:35+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1627475/000162747526000039/0001627475-26-000039-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1627475/000162747526000039/upwork-20260623.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001627475-26-000039
- JSON: https://secwatch.observer/filing/0001627475-26-000039.json
- Plain text: https://secwatch.observer/filing/0001627475-26-000039.txt

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