ZipRecruiter Secures $150M Credit Facility

TL;DR

ZipRecruiter just got a $150M credit line, up from $100M, maturing in 2029. More cash for ops!

AI Summary

On July 8, 2024, ZipRecruiter, Inc. entered into a new credit agreement for a $150 million revolving credit facility. This facility matures on July 8, 2029, and replaces their previous $100 million facility. The company intends to use borrowings under the new facility for general corporate purposes.

Why It Matters

This expanded credit line provides ZipRecruiter with greater financial flexibility for its ongoing operations and potential future investments.

Risk Assessment

Risk Level: low — The filing reports on a routine credit facility renewal and increase, which is generally a positive or neutral event for a company's financial health.

Key Numbers

• $150M — New Credit Facility (Increased borrowing capacity)
• $100M — Previous Credit Facility (Represents prior borrowing capacity)
• 5 years — Maturity (Duration of the new credit facility)

Key Players & Entities

• ZipRecruiter, Inc. (company) — Registrant
• $150 million (dollar_amount) — New revolving credit facility amount
• $100 million (dollar_amount) — Previous revolving credit facility amount
• July 8, 2024 (date) — Date of credit agreement
• July 8, 2029 (date) — Maturity date of new credit facility

FAQ

Key Financial Figures

• $0.00001 — which registered Class A common stock, $0.00001 par value per share ZIP New York Stock
• $250.0 million — ailable under the Credit Agreement from $250.0 million to $290.0 million, pursuant to the term
• $290.0 m — Credit Agreement from $250.0 million to $290.0 million, pursuant to the terms of the Cre

Filing Documents

• zip-20240708.htm (8-K) — 28KB
• 0001617553-24-000037.txt ( ) — 150KB
• zip-20240708.xsd (EX-101.SCH) — 2KB
• zip-20240708_lab.xml (EX-101.LAB) — 22KB
• zip-20240708_pre.xml (EX-101.PRE) — 13KB
• zip-20240708_htm.xml (XML) — 3KB

03 Creation of a Direct Financial Obligation or an Off-Balance Sheet Arrangement

Item 2.03 Creation of a Direct Financial Obligation or an Off-Balance Sheet Arrangement . On July 8, 2024, ZipRecruiter, Inc. (the "Company"), the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent, entered into a supplement (the "Supplement") to that certain credit agreement, dated as of April 30, 2021 (as supplemented or amended to date, the "Credit Agreement"), by and among the Company, the lenders from time to time party thereto and JPMorgan Chase Bank, N.A., as administrative agent. The Supplement amends the Credit Agreement by increasing the aggregate revolving commitments available under the Credit Agreement from $250.0 million to $290.0 million, pursuant to the terms of the Credit Agreement. A summary of the material terms of the Credit Agreement is included in Note 9 of the Company's financial statements contained in Item 8 of the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 28, 2024 (the "Annual Report"). The Credit Agreement, including all amendments thereto, were filed as Exhibits 10.16 through 10.18, 10.23 and 10.24 to the Annual Report. The foregoing summary of the Supplement does not purport to be complete and is qualified in its entirety by reference to the full text of the Supplement, which will be filed as an exhibit to the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2024.

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 thereunto duly authorized. Date: July 12, 2024 By: /s/ Timothy Yarbrough Timothy Yarbrough Executive Vice President, Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR