Lafayette Square USA, Inc. Enters Material Agreement, Creates Financial Obligation
| Field | Detail |
|---|---|
| Company | Lafayette Square USA, Inc. |
| Form Type | 8-K |
| Filed Date | Aug 19, 2025 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $65,000,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, financial-obligation
TL;DR
Lafayette Square USA, Inc. just signed a big deal and took on debt. Details in the 8-K.
AI Summary
On August 19, 2025, Lafayette Square USA, Inc. entered into a material definitive agreement and created a direct financial obligation. The filing details the creation of this obligation and includes financial statements and exhibits related to the event.
Why It Matters
This filing indicates a significant financial commitment or transaction by Lafayette Square USA, Inc., which could impact its financial standing and future operations.
Risk Assessment
Risk Level: medium — The creation of a direct financial obligation suggests potential new debt or financial commitments that could increase the company's risk profile.
Key Players & Entities
- Lafayette Square USA, Inc. (company) — Registrant
- August 19, 2025 (date) — Date of earliest event reported
FAQ
What type of material definitive agreement did Lafayette Square USA, Inc. enter into?
The filing states that Lafayette Square USA, Inc. entered into a material definitive agreement, but the specific details of the agreement are not provided in the summary information.
What is the nature of the direct financial obligation created by Lafayette Square USA, Inc.?
The filing indicates the creation of a direct financial obligation, but the specific terms and nature of this obligation are not detailed in the provided summary.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on August 19, 2025.
What is the company's state of incorporation?
Lafayette Square USA, Inc. is incorporated in Delaware.
What are the previous names of Lafayette Square USA, Inc.?
The company was formerly known as Lafayette Square Empire BDC, Inc. (name change on 20211101) and Lafayette Square Empire BDC, LLC (name change on 20210303).
Filing Stats: 917 words · 4 min read · ~3 pages · Grade level 13 · Accepted 2025-08-19 17:20:51
Key Financial Figures
- $65,000,000 — e Agreement") governing the issuance of $65,000,000 in aggregate principal amount of 7.00%
Filing Documents
- tm2523835d1_8k.htm (8-K) — 263KB
- tm2523835d1_ex10-1.htm (EX-10.1) — 578KB
- 0001104659-25-080344.txt ( ) — 1114KB
- none-20250819.xsd (EX-101.SCH) — 3KB
- none-20250819_lab.xml (EX-101.LAB) — 33KB
- none-20250819_pre.xml (EX-101.PRE) — 22KB
- tm2523835d1_8k_htm.xml (XML) — 3KB
01
Item 1.01 Entry into a Material Definitive Agreement. On August 19, 2025, Lafayette Square USA, Inc. (the "Company") entered into a Note Purchase Agreement (the "Note Purchase Agreement") governing the issuance of $65,000,000 in aggregate principal amount of 7.00% Senior Notes (the "Notes") to qualified institutional investors in a private placement. The Notes were issued on August 19, 2025 and will mature on August 19, 2030 unless redeemed, purchased or prepaid prior to such date by the Company in accordance with their terms and have a fixed interest rate of 7.00% per annum. Interest on the Notes will be due semiannually. These interest rates are subject to increase (up to a maximum increase of 2.00% above the stated rate for the Notes) in the event that, subject to certain exceptions, the Notes cease to have an investment grade rating and the Company's minimum secured debt ratio exceeds certain thresholds. The Notes are general unsecured obligations of the Company that rank at least pari passu , without preference or priority, with all other unsecured and unsubordinated indebtedness of the Company. The Notes are guaranteed, on a senior unsecured basis, by LS BDC Holdings LLC (the "Guarantor"), a wholly owned subsidiary of the Company. The Note Purchase Agreement contains customary terms and conditions for senior unsecured notes issued in a private placement, including, without limitation, affirmative and negative covenants, such as maintenance of the Company's status as a business development company within the meaning of the Investment Company Act of 1940, as amended, a minimum consolidated net worth test and a minimum asset coverage ratio. The Note Purchase Agreement also contains customary events of default with customary cure and notice periods. In addition, the Company is obligated to offer to repay the Notes at 100% of the principal amount of such Notes, together with interest on such Notes accrued to, if certain change in control events occur. The N
03
Item 2.03 Creation of Direct Financial Obligation. The information included under Item 1.01 above regarding the Note Purchase Agreement is incorporated by reference into this Item 2.03.
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits . Exhibit Number Description 10.1 Note Purchase Agreement, dated as of August 19, 2025, by and among Lafayette Square USA, Inc. and the Purchasers party thereto . 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 thereunto duly authorized. Lafayette Square USA, Inc. Date: August 19, 2025 By: /s/ Seren Tahiroglu Name: Seren Tahiroglu Title: Chief Financial Officer