8-K - OrthoPediatrics Corp. | StockGist

AI Analysis

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OrthoPediatrics Corp. entered into a First Amendment to its existing Term Loan Agreement on March 31, 2026, establishing a new $20.0 million delayed draw term loan facility to provide incremental committed financing capacity.

Key Takeaways

1The company established a new $20.0 million delayed draw term loan facility that can be drawn in minimum $10.0 million increments until June 30, 2027.

2The facility features an interest rate equal to SOFR plus 6.50% with a 3.25% floor, interest-only payments until maturity on August 5, 2029, and includes financial covenants.

3The company is not required to draw on the facility in connection with the amendment, preserving near-term cash flow flexibility.

4The company must pay a 1.00% upfront fee, a 0.05% per annum delayed draw ticking fee, and certain exit and prepayment fees consistent with the original agreement.

Current Report Details

Event Type

Material Agreement

Financing

Disclosure

Mandatory

Variant

8-K

Items Reported

1.01

above is incorporated by reference into this Item 2.03. ** ** | ITEM 9.01 | FINANCIAL STATEMENTS AND EXHIBITS. | |---|---| (d) Exhibits. | Exhibit No. | | Descr

Material Agreement

Source Document

2.03

| Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. | |---|---| ** ** The disclosure set forth

Financing

Transaction Details

Material Agreement

Agreement: First Amendment to Credit Agreement and Guaranty
Parties: OrthoPediatrics Corp., OrthoPediatrics US Distribution Corp., Vilex in Tennessee, Inc., Orthex, LLC, Telos Partners, LLC, MD Orthopaedics, Inc., MD International, Inc., OrthoPediatrics GP LLC, OrthoPediatrics US L.P., OrthoPediatrics Iowa Holdco, Inc., Medtech Concepts LLC, Boston Brace International, Inc., Orthotic Specialists, Inc., Wilmington Trust, National Association, Braidwell LP, other lenders

•Establishes new delayed draw term loan facility
•Aggregate principal amount not to exceed $20.0 million
•May be drawn until June 30, 2027
•Minimum $10.0 million increments
•Interest at SOFR plus 6.50% with 3.25% floor
•Payment-in-kind interest election of 1.00% per annum
•Interest-only until August 5, 2029 maturity
•Contains financial covenants
•1.00% upfront fee
•0.05% per annum delayed draw ticking fee
•Exit fees and prepayment fees

Debt / Financing

Instrument: Delayed draw term loan
Principal: 20000000
Rate: SOFR plus 6.50% with 3.25% floor
Maturity: 2029-08-05
Use of Proceeds: Not disclosed

Exhibits (2)

10.1

EXHIBIT 10.1

8-K

FORM 8-K