EverCommerce Inc. Enters Material Agreement, Incurs Financial Obligation

Ticker: EVCM · Form: 8-K · Filed: Dec 16, 2024 · CIK: 1853145

Evercommerce Inc. 8-K Filing Summary
FieldDetail
CompanyEvercommerce Inc. (EVCM)
Form Type8-K
Filed DateDec 16, 2024
Risk Levelmedium
Pages2
Reading Time3 min
Key Dollar Amounts$0.00001, $533.5 million
Sentimentneutral

Sentiment: neutral

Topics: material-agreement, financial-obligation, debt

Related Tickers: EVCM

TL;DR

EverCommerce just signed a big deal and owes money.

AI Summary

On December 13, 2024, EverCommerce Inc. entered into a material definitive agreement, which also created a direct financial obligation for the registrant. The filing details the creation of this obligation and includes financial statements and exhibits related to the agreement. The specific nature of the agreement and the financial obligation are not detailed in the provided text, but it is classified under 'Entry into a Material Definitive Agreement' and 'Creation of a Direct Financial Obligation'.

Why It Matters

This filing indicates a significant new financial commitment or agreement for EverCommerce Inc., which could impact its financial structure and future operations.

Risk Assessment

Risk Level: medium — The filing indicates a material definitive agreement and a direct financial obligation, suggesting a potentially significant financial event for the company.

Key Numbers

  • 001-40575 — SEC File Number (Identifier for EverCommerce Inc.'s SEC filings.)
  • 81-4063248 — IRS Employer Identification No. (Tax identification number for EverCommerce Inc.)

Key Players & Entities

  • EverCommerce Inc. (company) — Registrant
  • December 13, 2024 (date) — Date of earliest event reported
  • 3601 Walnut Street, Suite 400 (address) — Principal executive offices
  • Denver, Colorado 80205 (address) — Principal executive offices
  • 720-647-4948 (phone_number) — Registrant's telephone number

FAQ

What is the specific nature of the material definitive agreement entered into by EverCommerce Inc. on December 13, 2024?

The provided text does not specify the details of the material definitive agreement, only that one was entered into.

What is the direct financial obligation created by EverCommerce Inc. as reported in this 8-K?

The filing states that a direct financial obligation was created, but the specific amount and terms are not detailed in the provided excerpt.

What are the key terms and conditions of the financial obligation incurred by EverCommerce Inc.?

The provided text does not contain information regarding the terms and conditions of the financial obligation.

Which parties are involved in the material definitive agreement with EverCommerce Inc.?

The filing does not name the other parties involved in the material definitive agreement.

What is the expected impact of this new financial obligation on EverCommerce Inc.'s financial statements?

The filing indicates that financial statements and exhibits are included, suggesting they will provide details on the impact, but the provided text does not elaborate on the specific impact.

Filing Stats: 745 words · 3 min read · ~2 pages · Grade level 10.2 · Accepted 2024-12-16 09:03:14

Key Financial Figures

  • $0.00001 — ange on which registered Common Stock, $0.00001 par value per share EVCM The Nasdaq Sto
  • $533.5 million — Pursuant to the Amendment, the existing $533.5 million term loan facility was refinanced in it

Filing Documents

01 Entry Into a Material Definitive Agreement

Item 1.01 Entry Into a Material Definitive Agreement. On December 13, 2024, certain subsidiaries of EverCommerce Inc. entered into Amendment No. 3 (the "Amendment") to the Credit Agreement, dated as of July 6, 2021, among EverCommerce Intermediate Inc., EverCommerce Solutions Inc. (the "Borrower"), Royal Bank of Canada, as administrative agent and collateral agent, and the other parties and lenders party thereto (as amended, the "Credit Agreement"). The Amendment, among other things, refinanced the existing class of term loans outstanding under the Credit Agreement in full primarily to eliminate the credit spread adjustment with respect to Term SOFR Loans and reduce the applicable margin by 50 basis points with respect to all term loans. Pursuant to the Amendment, the existing $533.5 million term loan facility was refinanced in its entirety with a new class of Term B-1 Loans in an aggregate principal amount of $533.5 million. The Term B-1 Loans bear interest, at the Borrower's election, at (x) Term SOFR plus an applicable margin of 2.50%, with a minimum Term SOFR rate of 0.50% or (y) Alternate Base Rate plus an applicable margin of 1.50%, with a minimum Alternate Base Rate of 1.50%, in each case, with no step-downs. The credit spread adjustment with respect to Term SOFR Loans was removed in connection with the Amendment. The Term B-1 Loans priced at par. Proceeds of the Term B-1 Loans were used to refinance the existing term loans outstanding under the Credit Agreement immediately prior to giving effect to the Amendment. The foregoing description of the Amendment is a summary and is qualified in its entirety by reference to the Amendment, a copy of which is attached hereto as Exhibit 10.1 and which is incorporated herein by reference.

03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information set forth above in Item 1.01 is incorporated by reference in this Item 2.03.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1 Amendment No. 3, dated as of December 13, 2024, to the Credit Agreement, dated as of July 6, 2021, among EverCommerce Intermediate Inc., EverCommerce Solutions Inc., Royal Bank of Canada, as administrative agent and collateral agent, and the other parties and lenders party thereto 104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document

SIGNATURES

SIGNATURES 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. EVERCOMMERCE INC. Date: December 16, 2024 By: /s/ Lisa Storey Lisa Storey Chief Legal Officer

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