---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-002765"
form_type: "8-K"
ticker: "LUCK"
cik: "0001840572"
company_name: "Lucky Strike Entertainment Corp"
filed_at: "2023-02-08T23:59:59+00:00"
generated_at: "2026-06-19T21:59:54.725954+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Bowlero closes $900M term loan refinancing, upsizes revolver to $200M

## Summary
- New $900M term loan B due Feb 2028 priced at SOFR+350bps with 0% floor and 99.5 OID.
- Revolving credit facility increased by $35M to $200M, due Dec 2026.
- Moody's upgraded Bowlero's CFR and revolver to B1 from B2; S&P assigned recovery rating of 3.
- Proceeds used to refinance existing term loan B, repay revolver borrowings, and general corporate purposes.
- Company describes transaction as net leverage neutral, maintaining long-term leverage target.

## SEC filing metadata
- accession: 0001628280-23-002765
- form_type: 8-K
- ticker: LUCK
- cik: 0001840572
- company_name: Lucky Strike Entertainment Corp
- filed_at: 2023-02-08T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1840572/000162828023002765/0001628280-23-002765-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1840572/000162828023002765/bowl-20230208.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-002765
- JSON: https://secwatch.observer/filing/0001628280-23-002765.json
- Plain text: https://secwatch.observer/filing/0001628280-23-002765.txt

## Key facts
- Debt Financings
  Lucky Strike Entertainment Corp incurred term loan of $900 million with JPMorgan Chase Bank, N.A., as administrative agent, and the lenders from time to time party thereto at Adjusted Term SOFR Rate plus 3.50% per annum for Replacement Term Loans that are maturing maturing in 2028.
  - Instrument: term loan
  - Principal: $900 million
  - Counterparty: JPMorgan Chase Bank, N.A., as administrative agent, and the lenders from time to time party thereto
  - Rate: Adjusted Term SOFR Rate plus 3.50% per annum for Replacement Term Loans that are
  - Maturity: maturing in 2028
  - Event: incurrence
  source text: The Eighth Amendment provides for (i) a new $900 million tranche of term loans maturing in 2028 (the “ Replacement Term Loans ”), (ii) a $35 million increase of the total revolving commitments under the Existing Credit Agreement to an aggregate amount of $200 million, and (iii) changes to negative covenants to provide enhanced operational flexibility and, in certain cases, to adjust basket sizes to reflect growth in the Company's business.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1840572/000162828023002765/0001628280-23-002765-index.htm
- Material Agreements
  Lucky Strike Entertainment Corp amended Eighth Amendment with JPMorgan Chase Bank, N.A. valued at $900 million (effective 2023-02-08).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: JPMorgan Chase Bank, N.A.
  - Value: $900 million
  - Effective: 2023-02-08
  source text: On February 8, 2023, Bowlero Corp. (the “ Company ”) entered into an Eighth Amendment (the “ Eighth Amendment ”) to the First Lien Credit Agreement, dated as of July 3, 2017, by and among the Company, Kingpin Intermediate Holdings LLC, a direct subsidiary of the Company, as borrower, the other guarantors party thereto, JPMorgan Chase Bank, N.A., as administrative agent, and the lenders from time to time party thereto
  evidence_url: https://www.sec.gov/Archives/edgar/data/1840572/000162828023002765/0001628280-23-002765-index.htm

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