SolarWinds Corporation 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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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
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| Item 1.01 | Entry into a Material Definitive Agreement. | ||||
On July 24, 2024 (the “Effective Date”), SolarWinds Holdings, Inc. (the “Borrower”), an indirect, wholly owned subsidiary of SolarWinds Corporation, entered into Amendment No. 8 to First Lien Credit Agreement (the “Amendment”) among the Borrower, SolarWinds Intermediate Holdings I, Inc. (“Holdings”), the guarantors identified therein, the lenders identified therein and J.P. Morgan Chase Bank, N.A., as administrative agent, which amends that certain First Lien Credit Agreement, dated as of February 5, 2016, by and among the Borrower, Holdings, the other guarantors party thereto, the lenders from time to time party thereto and J.P. Morgan Chase Bank, N.A., as administrative agent, collateral agent and an issuing bank and the other issuing banks (as amended, restated, amended and restated, supplemented or otherwise modified from time to time prior to the Effective Date, the “Existing Credit Agreement”).
The Amendment amended the Existing Credit Agreement to, among other things, (1) extend the maturity date of the revolving credit facilities to July 24, 2029, (2) extend the maturity date of the first lien term loans to February 5, 2030 and (3) reduce the interest rate applicable to the Borrower’s existing first lien term loans from term secured overnight financing rate (“SOFR”) plus 3.25% to term SOFR plus 2.75%. As of the Effective Date, the aggregate principal amount of the Borrower’s outstanding first lien term loans is approximately $1.236 billion with a maturity date of February 5, 2030.
The foregoing description of the Amendment is qualified in its entirety by reference to the Amendment, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K 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 included in Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits. | ||||
| (d) | Exhibits. | ||||
| Exhibit Number | Description | |||||||
| 10.1 | ||||||||
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL) | |||||||
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.
| SOLARWINDS CORPORATION | |||||||||||
| Dated: | July 25, 2024 | By: | /s/ J. Barton Kalsu | ||||||||
| J. Barton Kalsu | |||||||||||
| Chief Financial Officer | |||||||||||