Beauty Health enters $50M revolving credit facility maturing November 2027

SkinHealth Systems Inc.

Amended and restated $50M revolving credit facility with JPMorgan, maturing Nov 14, 2027.
Facility remains undrawn; no outstanding balance as of filing date.
Interest rates: Term SOFR + 1.50%-2.00% or base rate + 0.50%-1.00%.
Financial covenants: leverage ratio <= 3.00x; fixed charge coverage >= 1.15x.
Company assumed obligations from HydraFacial; LIBOR transitioned to SOFR.

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

SkinHealth Systems Inc. amended Amended and Restated Credit Agreement with JPMorgan Chase Bank, N.A. valued at $50 million revolving credit facility (effective 2022-11-14).

Action: amendment
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A.
Value: $50 million revolving credit facility
Effective: 2022-11-14

Exact text from the filing

On November 14, 2022, The Beauty Health Company, a Delaware corporation (as successor by assumption to HydraFacial LLC (formerly known as Edge Systems LLC), a California limited liability company (“HydraFacial” and the “Initial Borrower”) (the “Borrower,” “Company,” “we” or “our”), as borrower, entered into an Amended and Restated Credit Agreement (the “Credit Agreement”) with JPMorgan Chase Bank, N.A. (the “Administrative Agent”).

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SkinHealth Systems Inc. filing history →

Source: SEC EDGAR

accession 0001818093-22-000177

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