secwatch.observer — SEC 8-K summary
======================================

Issuer:     Sezzle Inc. (SEZL)
CIK:        0001662991
Form:       8-K
Filed at:   2024-10-18T23:59:59+00:00
Accession:  0001662991-24-000290
Event type: debt
Sentiment:  positive
Materiality: 0.65
Item codes: 1.01, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

Sezzle amends credit agreement, loosens dividend and buyback restrictions
-------------------------------------------------------------------------

- Amendment No. 2 to Limited Guaranty and Indemnity Agreement with Bastion Funding VI LP dated Oct 15, 2024.
- Updates minimum tangible net worth covenant and expands ability to make restricted payments (dividends/repurchases).
- Permits restricted payments if trailing 12-month net income positive; cap is 50% of net income from Oct 2021-Oct 2022 plus 50% of monthly net income thereafter.
- Company can now return more capital to shareholders subject to covenant conditions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1662991/000166299124000290/0001662991-24-000290-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1662991/000166299124000290/szl-20241015.htm
  HTML page:      https://secwatch.observer/filing/0001662991-24-000290

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