secwatch.observer — SEC 8-K summary
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Issuer:     Rimini Street, Inc. (RMNI)
CIK:        0001635282
Form:       8-K
Filed at:   2023-02-23T23:59:59+00:00
Accession:  0001635282-23-000026
Event type: debt
Sentiment:  neutral
Materiality: 0.30
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Rimini Street amends credit agreement to replace LIBOR with SOFR, adds $10M litigation cost addback for Oracle case
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- Amendment No. 4 to Credit Agreement replaces LIBOR with SOFR as reference rate, effective Feb 28, 2023.
- Consolidated EBITDA definition amended to allow addback of up to $10M in Oracle litigation costs for Q4 2022 and any period including that quarter.
- Incremental borrowings available increased to $40M, $5M higher than original agreement.
- Applicable margin unchanged: Adjusted Term SOFR + 1.75%-2.50% or Base Rate + 0.75%-1.50%, based on leverage ratio.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1635282/000163528223000026/0001635282-23-000026-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1635282/000163528223000026/rmni-20230222.htm
  HTML page:      https://secwatch.observer/filing/0001635282-23-000026

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