MAXIMUS, INC. Files 8-K for Material Agreement

TL;DR

MAXIMUS just signed a big deal and took on new debt, filing an 8-K.

AI Summary

On May 30, 2024, Maximus, Inc. entered into a material definitive agreement and incurred a direct financial obligation. The company, incorporated in Virginia with its principal executive offices in McLean, VA, filed an 8-K report detailing these events.

Why It Matters

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

Risk Assessment

Risk Level: medium — Material definitive agreements and new financial obligations can introduce new risks or alter existing ones for a company.

Key Numbers

• 1-12997 — SEC File Number (Identifies the specific SEC filing for Maximus, Inc.)
• 54-1000588 — IRS Employer Identification No. (Tax identification number for Maximus, Inc.)

Key Players & Entities

• MAXIMUS, INC. (company) — Registrant
• May 30, 2024 (date) — Date of earliest event reported
• Virginia (jurisdiction) — State of incorporation
• McLean, VA (location) — Address of principal executive offices
• 703-251-8500 (phone_number) — Registrant's telephone number

FAQ

Key Financial Figures

• $868.1 million — or to the Amendment Date, approximately $868.1 million of tranche A term loans were outstandin
• $650 million — facility, such that it was decreased to $650 million and, as noted above, the maturity was e
• $343.2 million — or to the Amendment Date, approximately $343.2 million of tranche B term loans were outstandin
• $500 million — ranche B term facility was increased to $500 million and, as noted above, the maturity was e
• $600 million — revolving credit facility was sized at $600 million (with a sublimit for letters of credit
• $50 million — ith a sublimit for letters of credit of $50 million) and subject to maturity on May 28, 202
• $750 million — olving credit facility was increased to $750 million (and the sublimit for letters of credit
• $100 million — for letters of credit was increased to $100 million) and, as noted above, the maturity was

Filing Documents

• mms-20240530.htm (8-K) — 39KB
• maximus-amendedcreditagree.htm (EX-10.1) — 1876KB
• mms-20240530_g1.jpg (GRAPHIC) — 23KB
• 0001032220-24-000067.txt ( ) — 2393KB
• mms-20240530.xsd (EX-101.SCH) — 2KB
• mms-20240530_lab.xml (EX-101.LAB) — 21KB
• mms-20240530_pre.xml (EX-101.PRE) — 12KB
• mms-20240530_htm.xml (XML) — 3KB

01 Entry into a Definitive Material Agreement

Item 1.01 Entry into a Definitive Material Agreement. On May 30, 2024 (the "Amendment Date"), Maximus, Inc. (the "Company") entered into an Amended and Restated Credit Agreement (the "Amended Credit Agreement") with JPMorgan Chase Bank, N.A., in its capacity as administrative agent, collateral agent, an issuing lender and swing line lender, and the other lenders and financial institutions from time to time party thereto (which amended and restated that certain Credit Agreement, dated May 28, 2021, as amended by (i) the First Amendment thereto, dated June 3, 2022, (ii) the Second Amendment thereto, dated July 8, 2022, and (iii) the Third Amendment thereto, dated December 2, 2022), to, among other things, modify the amount of borrowings of tranche A term loans and tranche B term loans, increase the amount of the revolving credit facility, extend the maturity of the existing credit facilities by approximately three years (from May 28, 2026 to May 30, 2029, in the case of the tranche A term facility and the revolving credit facility and from May 28, 2028 to May 30, 2031, in the case of the tranche B term facility), increase the sublimit for letters of credit and make certain other amendments to certain pricing, financial and non-financial covenants and other terms as set forth in the Amended Credit Agreement. Prior to the Amendment Date, approximately $868.1 million of tranche A term loans were outstanding and subject to maturity on May 28, 2026. As of the Amendment Date, the Company repaid a portion of the outstanding principal amount of the tranche A term facility, such that it was decreased to $650 million and, as noted above, the maturity was extended to May 30, 2029. Prior to the Amendment Date, approximately $343.2 million of tranche B term loans were outstanding and subject to maturity on May 28, 2028. As of the Amendment Date, the outstanding principal amount of the tranche B term facility was increased to $500 million and, as noted above, the maturity was ex

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1 Amended and Restated Credit Agreement, dated as of May 30, 2024, by and among the Company, JPMorgan Chase Bank, N.A., as administrative agent, collateral agent, an issuing lender and swing line lender, and the lenders and other financial institutions party thereto . 104 Inline XBRL for the cover page of this Current Report on Form 8-K. 3

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. Maximus, Inc. (Registrant) Date: June 4, 2024 /s/ John T. Martinez John T. Martinez Chief Legal Officer and Secretary 4

View Full Filing

View this 8-K filing on SEC EDGAR