Health Catalyst Enters Material Definitive Agreement

TL;DR

Health Catalyst just signed a big new deal, expect financial moves.

AI Summary

On July 16, 2024, Health Catalyst, Inc. entered into a Material Definitive Agreement related to a direct financial obligation. The company, headquartered in South Jordan, UT, filed an 8-K report detailing this event. This filing indicates a new financial commitment or arrangement for the company.

Why It Matters

This filing signals a new financial obligation for Health Catalyst, Inc., which could impact its financial structure and future operations.

Risk Assessment

Risk Level: medium — Entering into a material definitive agreement and a direct financial obligation can introduce new financial risks and commitments for the company.

Key Players & Entities

• Health Catalyst, Inc. (company) — Registrant
• July 16, 2024 (date) — Date of earliest event reported
• South Jordan, UT (location) — Company Headquarters

FAQ

Key Financial Figures

• $0.001 — ich registered Common Stock, par value $0.001 per share HCAT The Nasdaq Global Select
• $225 m — an aggregate principal amount of up to $225 million, consisting of (i) an initial ter
• $125 million — an in the aggregate principal amount of $125 million (the "Initial Term Loan"), which was fu
• $100 m — ty in the aggregate principal amount of $100 million, which was undrawn as of the Clos
• $40 million — ompany has the option to draw (x) up to $40 million under the Delayed Draw Facility at any
• $60 million — w A Loans") and (y) up to an additional $60 million under the Delayed Draw Facility at any

Filing Documents

• hcat-20240716.htm (8-K) — 40KB
• exhibit991-healthcatalysta.htm (EX-99.1) — 15KB
• healthcatalystlogoa01.jpg (GRAPHIC) — 10KB
• 0001636422-24-000107.txt ( ) — 233KB
• hcat-20240716.xsd (EX-101.SCH) — 2KB
• hcat-20240716_def.xml (EX-101.DEF) — 15KB
• hcat-20240716_lab.xml (EX-101.LAB) — 27KB
• hcat-20240716_pre.xml (EX-101.PRE) — 16KB
• hcat-20240716_htm.xml (XML) — 3KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. On July 16, 2024 (the "Closing Date"), Health Catalyst, Inc., a Delaware corporation (the "Company") entered into that certain Credit Agreement (the "Credit Agreement") by and among the Company, as the borrower, Silver Point Finance, LLC, as administrative agent and collateral agent (the "Administrative Agent"), and the lenders from time to time party thereto (collectively, the "Lenders"). The Credit Agreement provides a five-year term loan facility in an aggregate principal amount of up to $225 million, consisting of (i) an initial term loan in the aggregate principal amount of $125 million (the "Initial Term Loan"), which was funded in full on the Closing Date, and (ii) a delayed draw term loan facility in the aggregate principal amount of $100 million, which was undrawn as of the Closing Date (the "Delayed Draw Facility", and each borrowing thereunder, collectively, the "Delayed Draw Loans", and, together with the Initial Term Loan, the "Term Loans"). The Company has the option to draw (x) up to $40 million under the Delayed Draw Facility at any time on or prior to the date that is six months after the Closing Date (the "Delayed Draw A Loans") and (y) up to an additional $60 million under the Delayed Draw Facility at any time on or prior to the date that is eighteen months after the Closing Date (the "Delayed Draw B Loans"), in each case, subject to the Company having satisfied certain conditions precedent to funding (including, among others, pro forma compliance with a minimum liquidity threshold and a maximum recurring revenue ratio). The net proceeds from the Initial Term Loan will be used, together with cash on hand, (i) to repurchase, repay and/or pay amounts of cash due upon conversion of any or all of the Company's existing convertible notes due 2025 at any time on or prior to the maturity of such existing convertible notes and (ii) for working capital and general corporate purposes. The proceeds f

01. Other Events

Item 8.01. Other Events. On July 18, 2024, the Company issued a press release announcing the entry into the Credit Agreement. A copy of the press release is attached hereto as Exhibit 99.1. The information contained in Item 8.01 of this Current Report, including Exhibit 99.1, is being furnished and shall not be deemed "filed" for any purposes, including for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. Such information shall not be incorporated by reference into any filing of the Company, whether made before or after the date hereof, regardless of any general incorporation language in such filing.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1* Health Catalyst, Inc. press release dated July 18 , 2024 104 Cover page Interactive Data File (embedded within the Inline XBRL document) * Furnished herewith. 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. HEALTH CATALYST, INC. Date: July 18, 2024 By: /s/ Jason Alger Jason Alger Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR