Sezzle Inc. Enters Material Definitive Agreement

TL;DR

Sezzle signed a new deal creating a financial obligation. Details to follow.

AI Summary

On October 15, 2024, Sezzle Inc. entered into a material definitive agreement, which also created a direct financial obligation for the registrant. The specific details of this agreement and the resulting obligation are not fully disclosed in this filing.

Why It Matters

This filing indicates Sezzle Inc. has entered into a significant new agreement that creates a financial obligation, potentially impacting its financial standing and future operations.

Risk Assessment

Risk Level: medium — The filing indicates a material definitive agreement and a direct financial obligation, but lacks specific details, creating uncertainty.

Key Players & Entities

• Sezzle Inc. (company) — Registrant
• October 15, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.00001 — ich Registered Common Stock, par value $0.00001 per share SEZL The Nasdaq Stock Market

Filing Documents

• szl-20241015.htm (8-K) — 24KB
• 0001662991-24-000290.txt ( ) — 155KB
• szl-20241015.xsd (EX-101.SCH) — 2KB
• szl-20241015_lab.xml (EX-101.LAB) — 24KB
• szl-20241015_pre.xml (EX-101.PRE) — 14KB
• szl-20241015_htm.xml (XML) — 3KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement On October 15, 2024, Sezzle Inc. (Sezzle or the Company) and Bastion Funding VI LP, in its capacity as administrative agent on behalf of the Secured Parties under the Company's Revolving Credit and Security Agreement, executed Amendment No. 2 to the Limited Guaranty and Indemnity Agreement. The amendment updates covenants regarding Sezzle's minimum tangible net worth and the ability of Sezzle to make "restricted payments," which include dividends to stockholders and repurchases of its shares of common stock. The amendment increases the cap on such restricted payments, permitting restricted payments so long as Sezzle's trailing twelve months of consolidated net income is positive and the aggregate amount of restricted payments does not exceed the sum of 50% of Sezzle's consolidated net income between October 14, 2021 and October 15, 2022, and 50% of Sezzle's monthly consolidated net income after such time (or 100% of the monthly net losses after such time). The foregoing description of the amendment is a summary only, and is qualified in its entirety by reference to the amendment, a copy of which will be filed as an exhibit to Sezzle's Annual Report on Form 10-K for the year ended December 31, 2024. Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant The information set forth under Item 1.01 of this Current Report on Form 8-K is hereby incorporated by reference into this Item 2.03. 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. SEZZLE INC. Dated: October 18, 2024 By: /s/ Charles Youakim Charles Youakim Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR