secwatch.observer — SEC 8-K summary
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Issuer:     XPEL, Inc. (XPEL)
CIK:        0001767258
Form:       8-K
Filed at:   2023-04-10T23:59:59+00:00
Accession:  0001767258-23-000018
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

XPEL enters $125M credit facility with Wells Fargo; repays $31M prior debt
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- New $125M secured revolving credit facility and letters of credit with Wells Fargo as administrative agent.
- Borrowed $31M at closing to repay all outstanding under Texas Partners Bank loan and pay related fees.
- Interest rate options: Base Rate or Adjusted Term SOFR plus margin (0.00-0.50% Base, 1.00-1.50% SOFR) based on leverage ratio.
- Financial covenants: Total Leverage Ratio ≤ 3.50x and Interest Coverage Ratio ≥ 3.00x, tested quarterly.
- Prior Loan Agreement with Texas Partners Bank terminated and fully repaid.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1767258/000176725823000018/0001767258-23-000018-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1767258/000176725823000018/xpel-20230406.htm
  HTML page:      https://secwatch.observer/filing/0001767258-23-000018

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