secwatch.observer — SEC 8-K summary
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Issuer:     UPWORK, INC (UPWK)
CIK:        0001627475
Form:       8-K
Filed at:   2026-06-23T20:45:35+00:00
Accession:  0001627475-26-000039
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1627475/000162747526000039/0001627475-26-000039-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1627475/000162747526000039/upwork-20260623.htm
  HTML page:      https://secwatch.observer/filing/0001627475-26-000039

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