Cross Country Healthcare Files 8-K for Material Agreement

TL;DR

CCRH just signed a big deal, creating a new financial obligation. Keep an eye on this.

AI Summary

On July 29, 2024, Cross Country Healthcare, Inc. entered into a material definitive agreement, creating a direct financial obligation. The company, incorporated in Delaware with its principal executive office in Boca Raton, FL, filed an 8-K report detailing this event. This filing also includes financial statements and exhibits.

Why It Matters

This filing indicates a significant new financial commitment or obligation for Cross Country Healthcare, which could impact its financial standing and future operations.

Risk Assessment

Risk Level: medium — Entering into material definitive agreements and creating financial obligations can introduce new risks related to the terms of the agreement and the company's ability to meet them.

Key Players & Entities

• Cross Country Healthcare, Inc. (company) — Registrant
• July 29, 2024 (date) — Date of Report
• Delaware (jurisdiction) — State of Incorporation
• Boca Raton, FL (location) — Principal Executive Office

FAQ

Key Financial Figures

• $0.0001 — ich registered Common stock, par value $0.0001 per share CCRN The Nasdaq Stock Market

Filing Documents

• ccrn-20240729.htm (8-K) — 29KB
• ccrn20240729-ablamendmente.htm (EX-10.1) — 60KB
• ccrn-20240729_g1.jpg (GRAPHIC) — 46KB
• 0001628280-24-033300.txt ( ) — 338KB
• ccrn-20240729.xsd (EX-101.SCH) — 2KB
• ccrn-20240729_lab.xml (EX-101.LAB) — 21KB
• ccrn-20240729_pre.xml (EX-101.PRE) — 12KB
• ccrn-20240729_htm.xml (XML) — 3KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement On July 29, 2024, Cross Country Healthcare, Inc. (the "Company") amended its ABL Credit Agreement dated October 25, 2019, as amended, restated or otherwise modified from time to time, among the Company, substantially all of its wholly-owned subsidiaries, and Wells Fargo Bank N.A., as lender and administrative agent. The facility may be further syndicated at a later date. The amendment allows for all share repurchases paid in cash prior to June 30, 2024 and thereafter to be excluded as restricted payments in the fixed charge coverage ratio calculation, if as of the date of the share repurchase, there is no revolving ABL balance (except for interest and fees payable in accordance with the terms of the ABL Credit Agreement). The foregoing description does not purport to be complete and is qualified in its entirety by reference to the full text of the Amended ABL Credit Agreement as filed as Exhibit 10.1 to this Form 8-K. Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant The information provided in Item 1.01 of this Current Report on Form 8-K is incorporated into Item 2.03 by reference.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits (d) Exhibits Exhibit Description 10.1 Amendment No. 7 to ABL Credit Agreement, dated as of July 29, 2024, by and among Cross Country Healthcare, Inc. and certain of its domestic subsidiaries as borrowers or guarantors, and Wells Fargo Bank N.A., as administrative agent, collateral agent, and lender 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized. CROSS COUNTRY HEALTHCARE, INC. Dated: July 29, 2024 By: /s/ William J. Burns Name: William J. Burns Title: Executive Vice President & Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR