---
schema_version: "secwatch.filing_event.v1"
accession: "0001783879-25-000097"
form_type: "8-K"
ticker: "HOOD"
cik: "0001783879"
company_name: "Robinhood Markets, Inc."
filed_at: "2025-03-25T23:59:59+00:00"
generated_at: "2026-05-24T05:56:03.172387+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Robinhood subsidiary upsizes credit facility to $2.65B, appoints Meta CRO Hegeman to board

## Summary
- New $2.65B 364-day senior secured revolver replaces $2.25B facility; can expand by $1.325B to $3.975B.
- Interest: Daily Simple SOFR + 0.10% floor plus margins 1.25% (Tranche A) or 2.50% (Tranches B & C); commitment fee 0.50%.
- John Hegeman, Meta Chief Revenue Officer, appointed to board effective March 21, 2025; joins Safety, Risk and Regulatory Committee.
- Board expanded from nine to ten directors; Hegeman's initial term ends at 2025 annual meeting.
- Credit agreement requires minimum tangible net worth, excess net capital, and net capital to debit items ratio covenants.

## SEC filing metadata
- accession: 0001783879-25-000097
- form_type: 8-K
- ticker: HOOD
- cik: 0001783879
- company_name: Robinhood Markets, Inc.
- filed_at: 2025-03-25T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1783879/000178387925000097/0001783879-25-000097-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1783879/000178387925000097/hood-20250321.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001783879-25-000097
- JSON: https://secwatch.observer/filing/0001783879-25-000097.json
- Plain text: https://secwatch.observer/filing/0001783879-25-000097.txt

## Key facts
- Executive change
  John Hegeman was appointed as Director at Robinhood Markets, Inc..
  - Action: appointed
  - Role: Director
  source text: On March 21, 2025, the board of directors (the “Board”) of Robinhood appointed John Hegeman to the Board, effective immediately.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1783879/000178387925000097/0001783879-25-000097-index.htm

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