8-K - Funko, Inc. | StockGist

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Funko Acquisition Holdings, L.L.C., a subsidiary of Funko, Inc., entered into Amendment No. 5 to its credit agreement on February 13, 2026, extending the loan maturity date to December 31, 2027 and modifying financial covenants, interest rates, and repayment terms. This amendment provides the company with additional financial flexibility and cushion on certain covenant requirements through 2026 and early 2027.

Key Takeaways

1Amendment No. 5 to the credit agreement was executed on February 13, 2026, extending the loan maturity date from September 17, 2026 to December 31, 2027.

2The amendment waives the minimum fixed charge coverage ratio covenant for the fiscal quarter ended December 31, 2025 and the fiscal quarters ending March 31, 2026 and June 30, 2026.

3The amendment introduces a minimum EBITDA covenant for the six-month period ending June 30, 2026 and provides additional cushion for the minimum fixed charge coverage ratio for fiscal quarters ending September 30, 2026, December 31, 2026 and March 31, 2027.

4The applicable margin on all outstanding loans increased to 450 basis points effective on the closing date of the Fifth Amendment, with subsequent increases as set forth in the Amended Credit Agreement.

5The amendment requires quarterly mandatory prepayment of revolving loans with cash and cash equivalents in excess of $50 million, with each prepayment permanently reducing revolving commitments.

6The amendment removes the 10 basis points credit spread adjustment applicable to SOFR loans and adds certain new affirmative covenants and additional events of default.

Current Report Details

Event Type

Material Agreement

Exhibits Only

Disclosure

Mandatory

Variant

8-K

Items Reported

1.01

. Entry into a Material Definitive Agreement. On February 13, 2026, Funko Acquisition Holdings, L.L.C. (the “Company”), a subsidiary of Funko, Inc., and certain

Material Agreement

$10.0M$50.0M

Source Document

9.01

. Financial Statements and Exhibits. (d) Exhibits: Exhibit No. Description 10.1+ Amendment No. 5, dated as of February 13, 2026, by and among Funko Acquisition

Exhibits Only

Transaction Details

Material Agreement

Agreement: Amendment No. 5 to Credit Agreement
Parties: Funko Acquisition Holdings, L.L.C., Subsidiary Borrowers, Lenders party to the Existing Credit Agreement, JPMorgan Chase Bank, N.A. as administrative agent

•Extends maturity date of loans from September 17, 2026 to December 31, 2027
•Waives minimum fixed charge coverage ratio for fiscal quarter ended December 31, 2025 and fiscal quarters ending March 31, 2026 and June 30, 2026
•Provides additional cushion for minimum fixed charge coverage ratio for fiscal quarters ending September 30, 2026, December 31, 2026 and March 31, 2027
•Introduces minimum EBITDA covenant for six-month period ending June 30, 2026
•Waives maximum net leverage ratio covenant for fiscal quarter ended December 31, 2025 and fiscal quarters ending March 31, 2026, June 30, 2026 and September 30, 2026
•Permits company to forego testing of certain financial covenants if company makes voluntary prepayment of loans in amount not less than $10 million prior to delivery of compliance certificate
•Removes 10 basis points credit spread adjustment applicable to SOFR loans
•Increases applicable margin on all outstanding loans to 450 basis points effective on closing date of Fifth Amendment
•Modifies amortization payment on term loans and requires amortization payments on outstanding revolving loans
•Requires quarterly mandatory prepayment of revolving loans with cash and cash equivalents in excess of $50 million
•Modifies certain financial reporting obligations and adds certain new affirmative covenants
•Adds certain additional events of default

Exhibits (2)

10.1

EX-10.1

8-K