secwatch.observer — SEC 8-K summary
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Issuer:     Funko, Inc. (FNKO)
CIK:        0001704711
Form:       8-K
Filed at:   2025-07-17T23:59:59+00:00
Accession:  0001704711-25-000107
Event type: debt
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Funko obtains credit amendment waiving leverage covenants, cutting revolver to $125M
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- Fourth Amendment waives max net leverage and min fixed charge coverage ratios for Q2 and Q3 2025.
- Revolving commitments reduced from $150M to $135M immediately, and to $125M by Dec 31, 2025.
- Applicable margin on all outstanding loans increased to 400 bps until credit facilities are paid in full.
- Borrowers must provide 13-week cash flow forecast; additional affirmative and negative covenants added.
- Amendment consented by required lenders and JPMorgan Chase as administrative agent as of July 16, 2025.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1704711/000170471125000107/0001704711-25-000107-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1704711/000170471125000107/fnko-20250716.htm
  HTML page:      https://secwatch.observer/filing/0001704711-25-000107

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