Skyward Specialty Insurance Files 8-K on Agreements & Obligations

TL;DR

Skyward Specialty's 8-K shows new deals made and broken, plus new debt. Watch closely.

AI Summary

Skyward Specialty Insurance Group, Inc. filed an 8-K on November 18, 2025, reporting the entry into and termination of a material definitive agreement, as well as the creation of a direct financial obligation. The filing also includes financial statements and exhibits.

Why It Matters

This filing indicates significant changes in Skyward Specialty's contractual and financial commitments, which could impact its financial health and operational strategy.

Risk Assessment

Risk Level: medium — The termination of a material definitive agreement and the creation of a new financial obligation suggest potential shifts in the company's business strategy or financial standing.

Key Players & Entities

• Skyward Specialty Insurance Group, Inc. (company) — Registrant
• November 18, 2025 (date) — Date of Report
• November 13, 2025 (date) — Date of earliest event reported
• 0001519449-25-000066 (document_id) — Accession Number

FAQ

Key Financial Figures

• $0.01 — ch registered Common stock, par value $0.01 SKWD The Nasdaq Stock Market LLC Indi
• $150.0 million — mum principal amount of the Revolver is $150.0 million which shall be increased to $250.0 mill
• $250.0 million — 0.0 million which shall be increased to $250.0 million on the closing date of the Company's ac
• $30.0 m — maximum principal amount, not to exceed $30.0 million, for the issuance of one or more
• $50.0 million — of credit, which shall be increased to $50.0 million on the Closing Date. Maximum capacity u
• $10.0 million — ny of additional indebtedness exceeding $10.0 million and on the Company's ability to make di

Filing Documents

• skwd-20251118.htm (8-K) — 33KB
• exhibit101-creditagreement.htm (EX-10.1) — 1261KB
• exhibit102-guarantyagreeme.htm (EX-10.2) — 100KB
• 0001519449-25-000066.txt ( ) — 1766KB
• skwd-20251118.xsd (EX-101.SCH) — 2KB
• skwd-20251118_def.xml (EX-101.DEF) — 15KB
• skwd-20251118_lab.xml (EX-101.LAB) — 26KB
• skwd-20251118_pre.xml (EX-101.PRE) — 15KB
• skwd-20251118_htm.xml (XML) — 3KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement On November 13, 2025, Skyward Specialty Insurance Group, Inc. (the "Company"), a Delaware corporation, entered into a Credit Agreement (the "Facility") by and among the Company as Borrower, the lenders from time to time parties thereto (each a "Lender" and collectively, the "Lenders"), Barclays Bank PLC, as Administrative Agent (the "Agent"), and the Agent, Truist Securities, Inc., Citizens Bank, N.A. and Texas Capital Bank as joint lead arrangers and joint book runners. The facility includes a a revolving loan (the "Revolver"). The initial maximum principal amount of the Revolver is $150.0 million which shall be increased to $250.0 million on the closing date of the Company's acquisition of Apollo Group Holdings Limited (the "Closing Date"). The Facility provides that the Company may utilize a portion of the maximum principal amount, not to exceed $30.0 million, for the issuance of one or more letters of credit, which shall be increased to $50.0 million on the Closing Date. Maximum capacity under the Facility may be increased by up to $50.0 million through the exercise by the Company of an uncommitted accordion feature through which existing and new Lenders may, at their option, agree to provide additional financing on the same terms, subject to certain conditions. Amounts drawn under the Facility will bear interest at either term SOFR plus a margin, which will range from 150 basis points to 190 basis points, or the base rate plus a margin, which will range from 50 basis points to 90 basis points, each depending on the Company's debt to capitalization ratio. SOFR will be calculated using a SOFR floor of 0.00% and a credit spread adjustment of 0.10%. The base rate will be the highest of (i) the Agent's then current prime lending rate, (ii) the Federal Funds Rate plus 0.50%, (iii) SOFR plus 1.00% and (iv) zero percent (0%). In addition, the Company will also pay a fee ranging from 0.20% to 0.35% on average daily

02 Termination of a Material Definitive Agreement

Item 1.02 Termination of a Material Definitive Agreement. On November 13, 2025, in connection with its entry into the Facility described in Item 1.01 of this Current Report, the Company terminated its Credit Agreement, dated March 28, 2023, by and among Skyward Specialty Insurance Group, Inc., the lenders from time to time party thereto and Truist Bank, as administrative agent. (the "Prior Agreement"). In connection with the termination of the Prior Agreement, the Company fully repaid all amounts outstanding thereunder. 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 in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.

01 Exhibits

Item 9.01 Exhibits (d) Exhibits. Exhibit No. Description of Exhibits 10.1 Credit Agreement, dated November 13, 2025, by and among Skyward Specialty Insurance Group, Inc., the lenders from time to time party thereto and Barclays Bank PLC, as Administrative Agent (the "Agent"), and the Agent, Truist Securities, Inc., Citizens Bank, N.A. and Texas Capital Bank as joint lead arrangers and joint book runners. 10.2 Guaranty Agreement, dated November 13, 2025, by and among Skyward Specialty Insurance Group, Inc., Skyward Service Company, Skyward Underwriters Agency, Inc., the loan parties identified on the signature pages thereto and Barclays Bank PLC. 104.1 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SKYWARD SPECIALTY INSURANCE GROUP, INC. Date: November 18, 2025 /s/ Mark Haushill Mark Haushill Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR