Houlihan Lokey Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement
UNITED STATES
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OF THE SECURITIES EXCHANGE ACT OF 1934
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| Item 1.01. | Entry into a Material Definitive Agreement. |
On August 19, 2025 (the “Effective Date”), Houlihan Lokey, Inc. (the “Company”) and certain subsidiaries of the Company entered into the Second Amendment to Credit Agreement, Amendment to Pledge Agreement and Joinder Agreement (the “Amendment”), which amends the Credit Agreement, dated as of August 23, 2019 (as amended through and including the Amendment, the “Credit Agreement”), by and among the Company, the guarantors party thereto, the lenders party thereto, and Bank of America, N.A., as agent.
The Amendment, among other things, (a) increases the revolving commitments under the Credit Agreement from $100 million to $150 million, (b) reduces the applicable interest rate margin for borrowings based on an adjusted term SOFR rate from 1.00% to 0.95% per annum and eliminates the 0.10% credit spread adjustment, (c) reduces the commitment fee from 0.30% to 0.15% per annum, (d) modifies the definition of Consolidated EBITDA, (e) extends the maturity of the credit facility under the Credit Agreement to August 19, 2030, (f) eliminates the minimum Consolidated EBITDA financial covenant, (g) modifies certain covenant restrictions, and (h) makes certain other amendments to the provisions of the Credit Agreement.
The foregoing description of the Amendment is only a summary and is qualified in its entirety by reference to the full text of the Amendment, a copy of which is attached hereto as Exhibit 10.1 and incorporated herein by reference.
| 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 is incorporated herein by reference.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits
| Exhibit No. |
Description | |
| 10.1 | Second Amendment to Credit Agreement, Amendment to Pledge Agreement and Joinder Agreement, dated as of August 19, 2025, by and among the Company, its subsidiaries that are party thereto as guarantors, the lenders party thereto, and Bank of America, N.A., as agent. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |
SIGNATURE
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.
| Date: August 20, 2025 |
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Houlihan Lokey, Inc. | ||||
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By: | /s/ J. Lindsey Alley | ||||
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Name: J. Lindsey Alley | ||||
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Position: Chief Financial Officer | ||||