Bowflex terminates Wells Fargo credit agreement with $3.02M payoff

BOWFLEX INC.

On Feb 26, 2024, Bowflex paid ~$3.02 million to Wells Fargo to fully satisfy and terminate the Credit Agreement originally dated Jan 31, 2020.
No early termination penalty was incurred in connection with the payoff.
All obligations under the Credit Agreement and related loan documents were discharged immediately upon payment.

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

BOWFLEX INC. terminated Credit Agreement with Wells Fargo Bank, National Association valued at approximately $3.02 million (effective 2024-02-26).

Action: termination
Agreement: credit facility
Counterparty: Wells Fargo Bank, National Association
Value: approximately $3.02 million
Effective: 2024-02-26

Exact text from the filing

On February 26, 2024, the Company entered into a payoff letter for a voluntary prepayment of the Credit Agreement (the “ Payoff Letter ”). Pursuant to the Payoff Letter, the Company paid a total of approximately $3.02 million to the Agent, representing the outstanding interest, expenses and fees, cash collateral, and other amounts owing to the Lenders and thereby terminated the Credit Agreement.

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Source: SEC EDGAR

accession 0001628280-24-008189

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