XPEL, Inc. Enters Material Definitive Agreement
Ticker: XPEL · Form: 8-K · Filed: Sep 17, 2025 · CIK: 1767258
| Field | Detail |
|---|---|
| Company | Xpel, Inc. (XPEL) |
| Form Type | 8-K |
| Filed Date | Sep 17, 2025 |
| Risk Level | medium |
| Pages | 6 |
| Reading Time | 7 min |
| Key Dollar Amounts | $0.001, $125 million, $2,000,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: debt-financing, material-agreement
TL;DR
XPEL just signed a new credit agreement, locking in some debt.
AI Summary
On September 11, 2025, XPEL, Inc. entered into a material definitive agreement, specifically a credit agreement, which creates a direct financial obligation for the company. The filing details the terms of this agreement, which is crucial for understanding XPEL's current financial commitments and future obligations.
Why It Matters
This filing indicates XPEL, Inc. has entered into a new financial obligation, which could impact its debt levels and financial flexibility.
Risk Assessment
Risk Level: medium — Entering into new financial obligations can increase a company's debt burden and financial risk.
Key Numbers
- 001-38858 — SEC File Number (Identifies XPEL's filing with the SEC.)
- 20-1117381 — EIN (Employer Identification Number for XPEL, Inc.)
Key Players & Entities
- XPEL, Inc. (company) — Registrant
- September 11, 2025 (date) — Date of Report
- Nevada (jurisdiction) — State of Incorporation
- San Antonio, Texas (location) — Principal Executive Offices
- 210-678-3700 (phone_number) — Registrant's telephone number
FAQ
What type of material definitive agreement did XPEL, Inc. enter into?
XPEL, Inc. entered into a credit agreement, as indicated by the filing's item information regarding 'Entry into a Material Definitive Agreement' and 'Creation of a Direct Financial Obligation'.
On what date was this material definitive agreement reported?
The date of the report, and thus the earliest event reported, is September 11, 2025.
What is XPEL, Inc.'s state of incorporation?
XPEL, Inc. is incorporated in Nevada.
Where are XPEL, Inc.'s principal executive offices located?
XPEL, Inc.'s principal executive offices are located at 711 Broadway, Suite 320, San Antonio, Texas.
What is the SEC file number for XPEL, Inc.?
The SEC file number for XPEL, Inc. is 001-38858.
Filing Stats: 1,694 words · 7 min read · ~6 pages · Grade level 13.5 · Accepted 2025-09-17 16:56:33
Key Financial Figures
- $0.001 — ich registered Common Stock, par value $0.001 per share XPEL The Nasdaq Stock Market
- $125 million — credit in an aggregate amount of up to $125 million. Borrowings under the Credit Agreement
- $2,000,000 — to any one transaction shall not exceed $2,000,000 for the applicable period and (2) any a
Filing Documents
- xpel-20250911.htm (8-K) — 35KB
- firstamendmentdatedasofsep.htm (EX-10.1) — 1281KB
- 0001767258-25-000054.txt ( ) — 1643KB
- xpel-20250911.xsd (EX-101.SCH) — 2KB
- xpel-20250911_lab.xml (EX-101.LAB) — 21KB
- xpel-20250911_pre.xml (EX-101.PRE) — 12KB
- xpel-20250911_htm.xml (XML) — 3KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement On September 11, 2025, XPEL, Inc. ("XPEL") entered into the First Amendment (the "Amendment") to its Credit Agreement, dated April 6, 2023 (as amended, the "Credit Agreement") with Wells Fargo Bank, N.A., as Administrative Agent, and other lenders party thereto. The Amendment, among other things, extends the maturity of the Credit Agreement from April 6, 2026 to September 11, 2028. The Credit Agreement provides for secured revolving loans and letters of credit in an aggregate amount of up to $125 million. Borrowings under the Credit Agreement bear interest, at XPEL's option, at a rate equal to either (a) Base Rate or (b) Adjusted Term SOFR. In addition to the applicable interest rate, the Credit Agreement includes a commitment fee ranging from 0.20% to 0.25% per annum for the unused portion of the aggregate commitment and an applicable margin ranging from 0.00% to 0.50% for Base Rate Loans and 1.00% to 1.50% for Adjusted Term SOFR Loans. Both the margin applicable to the interest rate and the commitment fee are dependent on XPEL's Consolidated Total Leverage Ratio. Obligations under the Credit Agreement are secured by a first priority perfected security interest, subject to certain permitted encumbrances, in all of XPEL's material property and assets. The terms of the Credit Agreement include certain affirmative and negative covenants that require, among other things, XPEL to maintain legal existence and remain in good standing, comply with applicable laws, maintain accounting records, deliver financial statements and certifications on a timely basis, pay taxes as required by law, and maintain insurance coverage, as well as to forgo certain specified future activities that might otherwise encumber XPEL and certain customary covenants. The Credit Agreement provides for two financial covenants: As of the last day of each fiscal quarter, XPEL shall not allow: 1. Its Consolidated Total Leverage Ratio to ex
03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement See Item 1.01
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits (d) Exhibits The following exhibit is to be filed as part of this Form 8-K: EXHIBIT NO. IDENTIFICATION OF EXHIBIT 10.1 First Amendment dated as of September 11, 2025 to the Credit Agreement dated as of April 6, 2023, by and among XPEL, Inc., Wells Fargo Bank, N.A., as Administrative Agent, and other lenders party hereto 104 Cover Page Interactive Data File (embedded within the Inline XBRL Document)
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. XPEL, Inc. Dated: September 17, 2025 By: /s/ Barry R. Wood Barry R. Wood Senior Vice President and Chief Financial Officer and Secretary