RadNet, Inc. Files 8-K for Material Definitive Agreement

TL;DR

RadNet just signed a big deal, filing an 8-K to let everyone know.

AI Summary

On April 18, 2024, RadNet, Inc. entered into a material definitive agreement related to a financial obligation. The company, incorporated in Delaware, filed an 8-K report detailing this event. The filing was made with the SEC and pertains to the company's financial activities.

Why It Matters

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

Risk Assessment

Risk Level: medium — Material definitive agreements and financial obligations can introduce financial risks and impact a company's operational stability.

Key Players & Entities

• RadNet, Inc. (company) — Registrant
• April 18, 2024 (date) — Date of Report
• Delaware (jurisdiction) — State of Incorporation
• 1510 Cotner Avenue (address) — Business Address
• Los Angeles (city) — Business Address City
• California (state) — Business Address State
• 90025 (zip_code) — Business Address Zip

FAQ

Key Financial Figures

• $0.0001 — nge on which registered Common Stock, $0.0001 par value RDNT NASDAQ Indicate by c
• $875 million — stated Credit Agreement provides for an $875 million senior secured term loan and a $282 mil
• $282 million — million senior secured term loan and a $282 million senior secured revolving credit facilit
• $2.2 million — erm loan in the amount of approximately $2.2 million compared to approximately $1.8 million
• $1.8 million — $2.2 million compared to approximately $1.8 million under the prior credit agreement. Cove
• $679 million — being used to refinance the outstanding $679 million term loans outstanding under the prior
• $180 million — transaction, and to fund approximately $180 million to RadNet's balance sheet. A copy of

Filing Documents

• radnet_8k.htm (8-K) — 38KB
• radnet_ex1001.htm (EX-10.1) — 1340KB
• radnet_ex9901.htm (EX-99.1) — 6KB
• image_001.jpg (GRAPHIC) — 3KB
• 0001683168-24-002513.txt ( ) — 1842KB
• rdnt-20240418.xsd (EX-101.SCH) — 3KB
• rdnt-20240418_lab.xml (EX-101.LAB) — 33KB
• rdnt-20240418_pre.xml (EX-101.PRE) — 22KB
• radnet_8k_htm.xml (XML) — 3KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. Amended and Restated First Lien Credit and Guaranty Agreement On April 18, 2024, RadNet, Inc. (the "Company") and the Company's wholly-owned subsidiary, RadNet Management, Inc. (the "Borrower") entered into a Third Amended and Restated First Lien Credit and Guaranty Agreement (the "Restated Credit Agreement"), with the lenders and financial institutions named therein (the "Lenders"), Barclays Bank PLC, as administrative agent and collateral agent on behalf of the Lenders ("Agent"), and substantially all of the Company's wholly-owned domestic subsidiaries and certain of its affiliates as guarantors, with the following material terms: Borrowing . The Restated Credit Agreement provides for an $875 million senior secured term loan and a $282 million senior secured revolving credit facility. Interest Rates . The interest rate on the term loan is either, at the election of the Borrower, (i) Term SOFR (with a floor of 0%) plus 2.50% or (ii) the prime rate (with a floor of 0%) plus 1.50%. The interest rate on the revolving credit facility is initially, at the election of the Borrower, (i) Term SOFR (with a floor of 0%) plus 3.00% or (ii) the prime rate (with a floor of 0%) plus 2.00% (with step-downs based on attainment of certain first lien net leverage ratio benchmarks). Maturity . The maturity date for the term loan is April 18, 2031 and the maturity date is April 18, 2029 for the revolving credit facility. Payments . Under the Restated Credit Agreement, the Borrower will be required to make quarterly payments of principal on the term loan in the amount of approximately $2.2 million compared to approximately $1.8 million under the prior credit agreement. Covenants . The Restated Credit Agreement contains certain financial and non-financial covenants, which include, but are not limited to, (i) restrictions on indebtedness, liens, and investments and limits on distributions to shareholders (including the repur

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits (d) Exhibits Exhibit No. Description 10.1 Third Amended and Restated First Lien Credit and Guaranty Agreement, dated as of April 18, 2024, by and among RadNet Management, Inc., a California corporation, RadNet, Inc., a Delaware corporation, certain subsidiaries and affiliates of RadNet Management, Inc., as Guarantors, the Lenders and other financial institutions from time to time party thereto, and Barclays Bank PLC, as Administrative Agent and Collateral Agent . 99.1 Press Release dated April 18, 2024 104 Cover Page Interactive Data File (embedded within the inline XBRL document) 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. Date: April 18, 2024 RADNET, INC. By: /s/ Mark Stolper Mark Stolper Chief Financial Officer 4

View Full Filing

View this 8-K filing on SEC EDGAR