Company: PIII
Filing Date: 2025-08-29
Form Type: 8-K
Source: 0001832511-25-000015
Chunk: 0

Company: P3 Health Partners Inc.
Filing Date: 2025-08-29
Form: 8-K
Item: Item 1.01
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Item 1.01 Entry into a Material Definitive Agreement.

On August 27, 2025, P3 Health Group, LLC (“ P3 LLC”), a subsidiary of P3 Health Partners Inc. (the “ Company”) entered into the Tenth Amendment (the “ Amendment”) to that certain Term Loan Agreement, dated as of November 19, 2020, by and among P3 LLC, as borrower, the subsidiary guarantors party thereto, the lenders from time to time party thereto, and CRG Servicing LLC, as administrative agent and collateral agent (as amended, the “ Term Loan Agreement”).

The Amendment:

• amends the payment structure of the Term Loan Agreement by extending the interest-only period to September 30, 2026, extending the maturity date to December 31, 2027, and changing the principal payments to a fixed $5,000,000 per payment date;

• changes the interest rate from 12% to 12% through December 31, 2025 and 15% thereafter;

• includes two separate Paid In-Kind (“ PIK”) periods, replacing the previous single PIK period: the first PIK Period measures from closing of the Term Loan Agreement through December 31, 2024 and includes the option to pay 8% cash plus 4% PIK (added to the principal); and the second PIK Period measures from January 1, 2026 through December 31, 2027 and includes the option to pay 12% cash plus 3% PIK; and

• updates board observation rights for lender representatives.

The Amendment also includes standard conditions precedent for effectiveness and reaffirmation of existing loan obligations. The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by the terms of the Amendment, a copy of which is filed herewith as Exhibit 10.1 and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.