---
schema_version: "secwatch.filing_event.v1"
accession: "0001662991-26-000071"
form_type: "8-K"
ticker: "SEZL"
cik: "0001662991"
company_name: "Sezzle Inc."
filed_at: "2026-05-11T22:15:09+00:00"
generated_at: "2026-05-12T10:20:46.527648+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Sezzle secures $300M credit facility with SOFR+3.86%, 3-yr term, up to 92.5% advance rate

## Summary
- New $300M facility with $75M accordion; 3-month Term SOFR + 3.86%, down from prior 6.75% spread.
- Advance rate increased to up to 92.5% of eligible originations from 90% previously.
- $153.5M outstanding from prior $225M facility carried forward with no repayment at closing.
- Maturity May 7, 2029; minimum utilization lowered to $50M from $60M.
- Amendment allows dividends/repurchases up to $75M + 50% of net income after May 7, 2026.

## SEC filing metadata
- accession: 0001662991-26-000071
- form_type: 8-K
- ticker: SEZL
- cik: 0001662991
- company_name: Sezzle Inc.
- filed_at: 2026-05-11T22:15:09+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1662991/000166299126000071/0001662991-26-000071-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1662991/000166299126000071/sezl-20260507.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001662991-26-000071
- JSON: https://secwatch.observer/filing/0001662991-26-000071.json
- Plain text: https://secwatch.observer/filing/0001662991-26-000071.txt

## Key facts
- Debt Financings
  Sezzle Inc. incurred revolving credit of $300 million with Bastion Funding VI, LP at 3-month Term SOFR plus 3.86% maturing May 7, 2029.
  - Instrument: revolving credit
  - Principal: $300 million
  - Counterparty: Bastion Funding VI, LP
  - Rate: 3-month Term SOFR plus 3.86%
  - Maturity: May 7, 2029
  - Event: incurrence
  source text: On May 7, 2026, Sezzle Funding SPE II, LLC (the "Borrower"), a wholly owned indirect subsidiary of Sezzle Inc. ("Sezzle" or the "Company"), Bastion Funding VI, LP, as administrative agent (the "Agent"), and certain lenders party thereto, executed the Amended and Restated Revolving Credit and Security Agreement (the "Credit Agreement"). Under the Credit Agreement, the Borrower entered into a senior, secured, asset-based revolving credit facility (the "Revolving Credit Facility") with a borrowing capacity of up to $300 million, and the option to increase the borrowing capacity by an additional $75 million. The Credit Agreement has a maturity date of May 7, 2029. The Revolving Credit Facility carries an interest rate of 3-month Term SOFR plus 3.86%, with a 3-month Term SOFR floor of 2.00%.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1662991/000166299126000071/0001662991-26-000071-index.htm
- Material Agreements
  Sezzle Inc. entered into Amended and Restated Revolving Credit and Security Agreement with Bastion Funding VI, LP, as administrative agent, and certain lenders party thereto valued at $300 million (effective 2026-05-07).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Bastion Funding VI, LP, as administrative agent, and certain lenders party thereto
  - Value: $300 million
  - Effective: 2026-05-07
  source text: On May 7, 2026, Sezzle Funding SPE II, LLC (the “Borrower”), a wholly owned indirect subsidiary of Sezzle Inc. (“Sezzle” or the “Company”), Bastion Funding VI, LP, as administrative agent (the “Agent”), and certain lenders party thereto, executed the Amended and Restated Revolving Credit and Security Agreement (the “Credit Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1662991/000166299126000071/0001662991-26-000071-index.htm

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