secwatch.observer — SEC 8-K summary
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Issuer:     RXO, Inc. (RXO)
CIK:        0001929561
Form:       8-K
Filed at:   2024-04-11T23:59:59+00:00
Accession:  0001929561-24-000060
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

RXO secures relaxed leverage covenant on revolving credit facility through Q1 2025
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- Consolidated leverage ratio allowed up to 4.25x for Q2 and Q3 2024; 4.00x for Q4 2024; 3.75x for Q1 2025; then returns to 3.50x.
- During covenant relief period, dividends, share repurchases, and certain material acquisitions are restricted.
- Company may elect to terminate relief period if leverage ratio is 3.50x or below at a fiscal quarter end.
- The amendment modifies the Revolving Credit Agreement dated Oct 18, 2022, with lenders including Citibank, Bank of America, etc.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1929561/000192956124000060/0001929561-24-000060-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1929561/000192956124000060/rxo-20240411.htm
  HTML page:      https://secwatch.observer/filing/0001929561-24-000060

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