secwatch.observer — SEC 8-K summary
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Issuer:     Funko, Inc. (FNKO)
CIK:        0001704711
Form:       8-K
Filed at:   2026-02-13T23:59:59+00:00
Accession:  0001704711-26-000005
Event type: debt
Sentiment:  negative
Materiality: 0.70
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1704711/000170471126000005/0001704711-26-000005-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1704711/000170471126000005/fnko-20260213.htm
  HTML page:      https://secwatch.observer/filing/0001704711-26-000005

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