International Money Express Enters Material Agreement

TL;DR

IMXI signed a big deal, expect financial moves.

AI Summary

On August 29, 2024, International Money Express, Inc. entered into a material definitive agreement and incurred a direct financial obligation. The company, previously known as Fintech Acquisition Corp. II, is incorporated in Delaware and headquartered in Miami, Florida.

Why It Matters

This filing indicates a significant new financial commitment or agreement for International Money Express, Inc., which could impact its future operations and financial standing.

Risk Assessment

Risk Level: medium — Entering into material definitive agreements and financial obligations can introduce new risks related to performance, covenants, and market conditions.

Key Numbers

• 001-37986 — SEC File Number (Identifies the company's filing with the SEC)
• 47-4219082 — IRS Employer Identification No. (Company's tax identification number)

Key Players & Entities

• International Money Express, Inc. (company) — Registrant
• Fintech Acquisition Corp. II (company) — Former company name
• August 29, 2024 (date) — Date of earliest event reported
• Delaware (jurisdiction) — State of Incorporation
• Miami, Florida (location) — Principal Executive Offices

FAQ

Key Financial Figures

• $0.0001 — ange on which registered Common stock ($0.0001 par value) IMXI The Nasdaq Capital Mark
• $425,000,000 m — A&R Credit Agreement provides for a new $425,000,000 million, multi-currency, revolving credit
• $100,000,000 — ional term and revolving loans of up to $100,000,000. The Second A&R Credit Agreement also p
• $30.3 million — ring any fiscal year the greater of (i) $30.3 million and (ii) 25% of Consolidated EBITDA (as

Filing Documents

• imxi-20240829.htm (8-K) — 36KB
• ex-101xkeybankagreement.htm (EX-10.1) — 1519KB
• image_0a.jpg (GRAPHIC) — 6KB
• 0001683695-24-000140.txt ( ) — 1940KB
• imxi-20240829.xsd (EX-101.SCH) — 2KB
• imxi-20240829_lab.xml (EX-101.LAB) — 21KB
• imxi-20240829_pre.xml (EX-101.PRE) — 12KB
• imxi-20240829_htm.xml (XML) — 3KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. On August 29, 2024, International Money Express, Inc. (the "Company"), along with certain of its domestic subsidiaries as borrowers and guarantors from time-to-time party thereto, entered into a Second Amended and Restated Credit Agreement (the "Second A&R Credit Agreement") with KeyBank National Association as administrative agent and L/C issuer, and the lenders from time to time party thereto, which amended and restated in its entirety that certain Amended and Restated Credit Agreement, dated June 24, 2021, as amended (the "Prior Credit Agreement"). The Second A&R Credit Agreement provides for a new $425,000,000 million, multi-currency, revolving credit facility and an uncommitted incremental facility, which may be utilized for additional term and revolving loans of up to $100,000,000. The Second A&R Credit Agreement also provides for the issuance of letters of credit, which would reduce availability under the revolving credit facility. The maturity date of the Second A&R Credit Agreement is August 29, 2029. A portion of the initial borrowings under the new revolving credit facility were used to repay in full the remaining outstanding balance of the Company's term loan under the Prior Credit Agreement and to pay the costs associated with establishing the new revolving credit facility. Borrowings under the Second A&R Credit Agreement are available for general corporate purposes to support the Company's growth, as well as to fund share repurchases. At the election of the Company, interest on the revolving loans denominated in U.S. Dollars is determined by reference to either (i) the secured overnight financing rate ("SOFR"), (ii) the daily simple SOFR or (iii) a defined "base rate," in each case, plus an applicable margin ranging from 1.75% to 2.25% for SOFR rate loans and from 0.75% to 1.25% for base rate loans based upon the Company's consolidated leverage ratio, as so calculated pursuant to the terms of

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 * Second Amended and Restated Credit Agreement, dated as of August 29, 2024, by and among International Money Express, Inc., as Holdings, Intermex Wire Transfer, LLC, as Borrower, Intermex Wire Transfer II, LLC, Intermex Wire Transfer Corp., and Envios de Valores La Nacional Corp, each a Guarantor (collectively the "Loan Parties"); and the Lenders, as defined in the Second A&R Credit Agreement, from time to time party thereto, and KeyBank National Association, as Administrative Agent and L/C Issuer. 104* Cover Page Interactive Data File (embedded within the Inline XBRL document) *Filed 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. INTERNATIONAL MONEY EXPRESS, INC. Dated: August 29, 2024 By: /s/ Andras Bende Name: Andras Bende Title: Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR