Funko amends credit agreement, extends maturity to Dec 2027, waives covenants

Funko, Inc.

Extends loan maturity from Sep 2026 to Dec 31, 2027; increases margin on all loans to 450 bps.
Waives minimum fixed charge coverage ratio for Q4 2025, Q1 2026, Q2 2026; introduces minimum EBITDA covenant for H1 2026.
Permits voluntary prepayment of $10M+ to skip certain covenant tests; requires quarterly mandatory prepayment of revolver if cash exceeds $50M.
Amendment removes 10 bps credit spread adjustment on SOFR loans; adds new affirmative covenants and events of default.
Lenders include JPMorgan, U.S. Bank, BMO, Goldman Sachs, Citizens, KeyBank, Wells Fargo, HSBC, Bank of America, PNC.

item 1.01 item 9.01

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

Funko, Inc. amended Fifth Amendment with JPMorgan Chase Bank, N.A. (effective 2026-02-13).

Action: amendment
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A.
Effective: 2026-02-13

Exact text from the filing

On February 13, 2026, Funko Acquisition Holdings, L.L.C. (the “Company”), a subsidiary of Funko, Inc., and certain of the Company’s material domestic subsidiaries (collectively, the “Credit Agreement Parties”) entered into an amendment (the “Fifth Amendment”) with the lenders party to the Existing Credit Agreement (as defined below) and JPMorgan Chase Bank, N.A. as administrative agent (“JPM”).

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Source: SEC EDGAR

accession 0001704711-26-000005

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