SelectQuote Files 8-K/A Amendment

TL;DR

SQ filed an 8-K/A amendment on Oct 18 for Oct 15 events - new material agreement & financial obligation.

AI Summary

SelectQuote, Inc. filed an 8-K/A amendment on October 18, 2024, related to events on October 15, 2024. The filing concerns the entry into a material definitive agreement and the creation of a direct financial obligation or an off-balance sheet arrangement. Specific details regarding the agreement and financial obligations are not provided in this excerpt.

Why It Matters

This amendment to a previous filing indicates a significant corporate event, potentially involving new financial commitments or agreements that could impact the company's financial standing.

Risk Assessment

Risk Level: medium — Amendments to 8-K filings often signal significant corporate actions, which can introduce uncertainty or new financial risks.

Key Players & Entities

• SelectQuote, Inc. (company) — Registrant
• October 15, 2024 (date) — Earliest event reported
• October 18, 2024 (date) — Filing date
• Delaware (jurisdiction) — State of incorporation
• 001-39295 (file_number) — SEC File Number
• 94-3339273 (tax_id) — I.R.S. Employer Identification No.
• 6800 West 115th Street, Suite 2511 (address) — Principal executive offices
• Overland Park, Kansas (location) — Principal executive offices location
• 913-599-9225 (phone_number) — Registrant's telephone number

FAQ

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value SLQT New York Stock Exchange
• $100,000,000 — sers for an aggregate purchase price of $100,000,000. The Notes are comprised of $60,000,000
• $60,000,000 — 100,000,000. The Notes are comprised of $60,000,000 of senior secured 7.80% Class A notes a
• $40,000,000 — senior secured 7.80% Class A notes and $40,000,000 of senior secured 9.65% Class B Notes a

Filing Documents

• slqt-20241015.htm (8-K/A) — 32KB
• exhibit41-indenture.htm (EX-4.1) — 1333KB
• exhibit101-npa.htm (EX-10.1) — 324KB
• 0001794783-24-000071.txt ( ) — 2056KB
• slqt-20241015.xsd (EX-101.SCH) — 2KB
• slqt-20241015_lab.xml (EX-101.LAB) — 22KB
• slqt-20241015_pre.xml (EX-101.PRE) — 13KB
• slqt-20241015_htm.xml (XML) — 3KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. The disclosure in Item 2.03 of this Current Report on Form 8-K/A is incorporated by reference under this Item 1.01. Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. As previously reported in the Original Filing, on October 15, 2024, the Company and certain of its existing lenders (the "Purchasers") entered into a Note Purchase Agreement (the "Note Purchase Agreement") pursuant to which a wholly-owned subsidiary of the Company issued two tranches of privately rated senior secured notes (the "Notes") to the Purchasers for an aggregate purchase price of $100,000,000. The Notes are comprised of $60,000,000 of senior secured 7.80% Class A notes and $40,000,000 of senior secured 9.65% Class B Notes and are secured by a portion of the Company's commissions receivable at an initial advance rate of 62 %. The Notes are governed by an Indenture, dated as of October 15, 2024 (the "Indenture"), with UMB Bank, N.A. as Indenture Trustee, and have a final legal maturity date of October 20, 2039. Interest will accrue from October 15, 2024 and will be payable monthly, with the first payment date commencing on October 20, 2024. The Notes will amortize based on a target loan-to-value calculation, and if any Notes remain outstanding after September 2028, then all available funds of the Issuer will be swept to pay down the Notes, leaving no distributions to equity. In addition, additional interest at 2.00% per annum will accrue and be payable on any Notes outstanding after September 2028, which additional interest will increase to 4.00% per annum in October 2030. Any redemption of Notes before the payment date in September 2027 will be subject to a "make-whole" premium, calculated using a discount rate of T+50 basis points. The Indenture contains covenants that, among other things, limit the ability of the Issuer to: (i) sell, transfer, or dispose of

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description of Exhibit 4.1 * Indenture 10.1 * Note Purchase Agreement 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) * Certain exhibits and schedules have been omitted pursuant to Item 601(a)(5) of Regulation S-K. The Company hereby undertakes to furnish a copy of any omitted exhibit or schedule upon request by the SEC.

SIGNATURES

SIGNATURES 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. SELECTQUOTE, INC. Date: October 18, 2024 By: /s/ Daniel A. Boulware Name: Daniel A. Boulware Title: General Counsel and Corporate Secretary

View Full Filing

View this 8-K/A filing on SEC EDGAR