secwatch.observer — SEC 8-K summary
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Issuer:     QuidelOrtho Corp (QDEL)
CIK:        0001906324
Form:       8-K
Filed at:   2026-09-23T20:41:04+00:00
Accession:  0001906324-26-000036
Event type: debt
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

QuidelOrtho secures covenant relief on $3.4B credit facilities through 2029
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- Amended Aug-2025 credit agreement on Sep-23-2026, covering $1.15B Term Loan A, $100M DDTL, $1.45B Term Loan B, $700M revolver.
- Covenant Relief Period runs to Sep-2029; max leverage eased to 5.50x (through Jul-2028) stepping to 4.25x; min interest coverage 2.25x to 3.00x by Sep-2029.
- Initial SOFR margin on Term A/Revolver rises to 2.50% (1.50% base rate); grid up to 3.00% thereafter. Term Loan B rate unchanged.
- New limits during relief: $200M cap on acquisitions of non-Loan parties, $10M/yr and $100M total for restricted payments, Pro Forma Cash capped at $250M for revolver draws.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1906324/000190632426000036/0001906324-26-000036-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1906324/000190632426000036/qdel-20260923.htm
  HTML page:      https://secwatch.observer/filing/0001906324-26-000036

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