Evolent Health Reports New Financial Obligation

TL;DR

EVH took on a new financial obligation on 1/24.

AI Summary

Evolent Health, Inc. filed an 8-K on January 30, 2025, reporting the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement as of January 24, 2025. The filing does not specify the exact nature or amount of the obligation, but it is a material event requiring disclosure.

Why It Matters

This filing indicates Evolent Health has entered into a new financial commitment, which could impact its balance sheet and future financial flexibility.

Risk Assessment

Risk Level: medium — The nature and size of the financial obligation are not detailed, creating uncertainty about its potential impact on the company's financial health.

Key Players & Entities

• Evolent Health, Inc. (company) — Registrant
• January 24, 2025 (date) — Date of earliest event reported
• January 30, 2025 (date) — Filing date

FAQ

Key Financial Figures

• $0.01 — tock of Evolent Health, Inc., par value $0.01 per share EVH New York Stock Exchange
• $125 million — osed, Amendment No. 3 established (a) a $125 million 2024-A delayed draw term loan facility
• $75 million — ed Draw Term Loan Facility ") and (b) a $75 million 2024-B delayed draw term loan facility

Filing Documents

• evh-20250124.htm (8-K) — 35KB
• 0001628908-25-000008.txt ( ) — 162KB
• evh-20250124.xsd (EX-101.SCH) — 2KB
• evh-20250124_lab.xml (EX-101.LAB) — 23KB
• evh-20250124_pre.xml (EX-101.PRE) — 13KB
• evh-20250124_htm.xml (XML) — 3KB

03. Creation of a Direct Financial Obligation

Item 2.03. Creation of a Direct Financial Obligation As previously disclosed, Evolent Health, Inc. (the " Company ") and certain of its subsidiaries are party to a credit agreement, dated as of August 1, 2022, by and between the Lenders party thereto, Evolent Health LLC (the " Borrower "), as the Administrative Borrower, the other borrowers party thereto, the Company, as the Parent, each other Guarantor party thereto, Ares Capital Corporation, as Administrative Agent, and ACF Finco I LP, as Collateral Agent and Revolving Agent (as amended by Amendment No. 1 dated as of January 20, 2023, Amendment No. 2 dated as of December 5, 2023, and Amendment No. 3 dated as of December 6, 2024 (" Amendment No. 3 "), the " Credit Agreement "). Also as previously disclosed, Amendment No. 3 established (a) a $125 million 2024-A delayed draw term loan facility (" 2024-A Delayed Draw Term Loan Facility ") and (b) a $75 million 2024-B delayed draw term loan facility (" 2024-B Delayed Draw Term Loan Facility " and together with the 2024-A Delayed Draw Term Loan Facility, the " Delayed Draw Term Loans "). Under Amendment No. 3, the 2024-A Delayed Draw Term Loan Facility may be funded to the Borrower no later than January 31, 2025. Pursuant to the terms of the Credit Agreement, on January 24, 2025 the Borrower provided notice to the Administrative Agent to borrow the Delayed Draw Term Loans, to be funded on January 31, 2025. The Company expects to use the funds for general corporate purposes, including working capital and management of future liabilities, potentially including the Company's Convertible Senior Notes due in October 2025. As previously disclosed: The Delayed Draw Term Loans will mature on the date that is the earliest of (a) December 6, 2029, (b) the date on which all amounts outstanding under the Credit Agreement have been declared or have automatically become due and payable under the terms of the Credit Agreement, (c) the date that is one hundred eighty (180) d

Forward-Looking Statements

Forward-Looking Statements This Current Report on Form 8-K includes forward-looking statements which include the intended use of proceeds for borrowings under the Credit Agreement, as well as any other statements which are not historical facts. By their nature, forward-looking statements are subject to numerous factors, risks and uncertainties that could cause actual outcomes and results to be materially different from those projected. Readers are cautioned not to place undue reliance on these forward- looking statements, which speak to results only as of the date the statements were made. Except for any ongoing obligation to disclose material information as required by the United States federal securities laws, the Company does not have any intention or obligation to publicly update or revise any forward-looking statements after filing this Current Report on Form 8-K, whether to reflect any future events or circumstances or otherwise. For a discussion of potential risks and uncertainties, please refer to the risk factors and other cautionary statements included in the Company's Securities and Exchange Commission ("SEC") filings. Copies of the Company's SEC filings are available on its Investor Relations website, www.ir.evolent.com or from the SEC website, www.sec.gov.

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. EVOLENT HEALTH, INC. By: /s/ Jonathan D. Weinberg Name: Jonathan D. Weinberg Title: General Counsel and Secretary Date: January 30 , 2025

View Full Filing

View this 8-K filing on SEC EDGAR