Streamline Health Solutions Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation, Financial Statements and Exhibits

false 0001008586 0001008586 2025-03-27 2025-03-27

 

 

 

 

Date of Report (Date of earliest event reported): March 27, 2025

 

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Item 1.01.         Entry into a Material Definitive Agreement.

 

The information set forth in Item 2.03 of this Current Report on Form 8-K is incorporated by reference into this Item 1.01.

 

Item 2.03.         Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

 

On March 27, 2025, Streamline Health Solutions, Inc. (the “Company”) and certain of its subsidiaries entered into a Sixth Modification and Waiver (the “Sixth Modification”) to Second Amended and Restated Loan and Security Agreement (as amended and supplemented, the “Loan and Security Agreement”) with Western Alliance Bank (“WAB”). The Sixth Modification amended certain financial covenants in the Loan and Security Agreement, including updating the maximum ARR net leverage ratios, maximum debt to adjusted EBITDA ratios, fixed charge coverage ratios and minimum adjusted EBITDA thresholds.

 

The Sixth Modification also requires the Company to pay certain fees to WAB in connection with the subsequent repayment of obligations due to WAB under the Loan and Security Agreement. The foregoing fees, if any, will be due and payable on the earlier of (i) August 26, 2026, and (ii) the date on which the Company repays in full all obligations due to WAB under the Loan and Security Agreement.

 

The foregoing description of the terms of the Sixth Modification does not purport to be complete and is qualified in its entirety by reference to the full text of the Sixth Modification, which is attached hereto as Exhibit 10.1 and incorporated herein by reference.

 

Item 9.01         Financial Statements and Exhibits.

 

 

 

* Filed herewith

 

 

 

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.