Option Care Health Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation, Financial Statements and Exhibits
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Item 1.01. Entry into a Material Definitive Agreement
On May 8, 2024, Option Care Health Inc. (the “Company”) entered into that certain Third Amendment to Amended and Restated First Lien Credit Agreement (the “Amendment”), by and among the Company, as borrower, certain subsidiaries of the Company party thereto, each Existing Term Lender party thereto, the Replacement Lender, the 2024 Incremental Term Lender and Bank of America, N.A., as administrative agent (the “Agent”), which amends that certain Amended and Restated First Lien Credit Agreement, dated as of October 27, 2021 (as amended by that certain First Amendment to Amended and Restated First Lien Credit Agreement, dated as of June 8, 2023, that certain Second Amendment to Amended and Restated First Lien Credit Agreement, dated as of December 7, 2023, and the Amendment, the “Credit Agreement”), by and among the Company, as borrower, certain subsidiaries of the Company from time to time party thereto, the Lenders from time to time party thereto and the Agent. The Amendment, among other things, (i) reduces the interest rate on the Term B Loans thereunder from Term SOFR (including a credit spread adjustment) plus 2.75% to Term SOFR plus 2.25% and removes the credit spread adjustment with respect to such Term B Loans, and (ii) provides for incurrence of incremental term loans in the aggregate principal amount of $50,000,000, which bear interest at the same interest rate as provided in the foregoing clause (i).
The foregoing description of the Amendment is not complete and is qualified in its entirety by reference to the full text of the Amendment, which is attached to this Current Report on Form 8-K as Exhibit 10.1, and is incorporated herein by reference. Capitalized terms used in this Item 1.01 but not defined herein have the meaning assigned to such terms in the Amendment or the Credit Agreement, as applicable.
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 above is incorporated into this Item 2.03 by reference.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits.
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.
| Option Care Health, Inc. | |||
| Date: | May 10, 2024 | By: | /s/ Michael Shapiro |
| Michael Shapiro | |||
| Chief Financial Officer |