Mister Car Wash Enters Material Definitive Agreement

TL;DR

MCW signed a new material agreement on 11/26, expect financial implications.

AI Summary

Mister Car Wash, Inc. entered into a material definitive agreement on November 26, 2024. This agreement involves a direct financial obligation or an obligation under an off-balance sheet arrangement for the registrant. The filing also includes financial statements and exhibits related to this event.

Why It Matters

This filing indicates a significant new financial commitment or arrangement for Mister Car Wash, which could impact its future financial obligations and operations.

Risk Assessment

Risk Level: medium — Material definitive agreements can introduce new financial obligations or strategic shifts that carry inherent risks.

Key Players & Entities

• Mister Car Wash, Inc. (company) — Registrant
• November 26, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.01 — ch registered Common stock, par value $0.01 per share MCW The New York Stock Ex
• $923 million — ans in an aggregate principal amount of $923 million ("2024-2 Repriced Term Loans"). The 202

Filing Documents

• mcw-20241126.htm (8-K) — 45KB
• mcw-ex10_1.htm (EX-10.1) — 3179KB
• 0000950170-24-132448.txt ( ) — 3751KB
• mcw-20241126.xsd (EX-101.SCH) — 24KB
• mcw-20241126_htm.xml (XML) — 5KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On November 26, 2024, Mister Car Wash Holdings, Inc. (the "Borrower" or the "Company") entered into Amendment No. 6 (the "Amendment") to its existing Amended and Restated First Lien Credit Agreement, dated as of May 14, 2019, with Hotshine Intermediate co, Inc. ("Holdings"), Bank of America, N.A., as administrative agent and collateral agent, and other lenders party thereto (as amended prior to the Amendment, the "Existing Credit Agreement" and, as amended by the Amendment, the "Credit Agreement") to reprice its existing Term Loan B due 2031. Defined terms used herein and not defined have the meaning set forth in the Credit Agreement. The Amendment reduced the margins applicable to 2024-2 Refinancing Term Loans (as defined below) and Revolving Loans and reset the soft call protection of 1% for voluntary prepayments of 2024-2 Refinancing Term Loans to last for six months after the effective date of the Amendment. 2024-2 Refinancing Term Loans Pursuant to the Amendment, the Borrower repriced its term loans in an aggregate principal amount of $923 million ("2024-2 Repriced Term Loans"). The 2024-2 Repriced Term Loans margin was reduced to 2.75% (from 3.00%), with unchanged step-downs based on the First Lien Net Leverage Ratio. For SOFR Loans, the margin starts at 2.75% and can decrease to 2.50% and 2.25% based on the First Lien Net Leverage Ratio (previously 2.75% and 2.50%). For Base Rate Loans, the margin was reduced to 1.75% (from 2.00%) and can decrease to 1.50% and 1.25%, depending on the First Lien Net Leverage Ratio (previously 1.75% and 1.50%). 2024 Revolving Commitments Pursuant to the Amendment, the Revolving Loans margin was reduced to 2.75% (from 3.00%), with unchanged step-downs based on the First Lien Net Leverage Ratio. For SOFR Loans, the margin starts at 2.75% and can decrease to 2.50%, 2.25% and 2.00% based on the First Lien Net Leverage Ratio (previously 2.75%, 2.50% and 2.25%). For Ba

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1* Amendment No. 6 to the First Lien Term Loan Agreement, dated November 26, 2024, by and among Mister Car Wash Holdings, Inc. and the parties thereto named therein. 104 Cover Page Interactive Data File – the cover page XBRL tags are embedded within the Inline Instance XBRL document * Certain schedules and exhibits have been omitted pursuant to Item 601(a)(5) of Regulation S-K. The Borrower will supplementally furnish copies of omitted schedules and exhibits to the Securities and Exchange Commission or its staff upon its request.

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. Mister Car Wash, Inc. Date: December 3, 2024 By: /s/ Markus Hartmann Markus Hartmann General Counsel

View Full Filing

View this 8-K filing on SEC EDGAR