Company: SLDE
Filing Date: 2025-01-22
Form Type: DRS/A
Source: 0000950123-25-000502
Chunk: 270

Company: Slide Insurance Holdings, Inc.
Filing Date: 2025-01-22
Form: DRS/A
Chunk 270
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SIH ceded losses and loss adjustment expenses of $60,656 and $423,930 in 2023 and 2022, respectively.

| 13. | Revolving Credit Facility |

The Company has a secured revolving credit agreement (“Credit Agreement”) with Regions Bank that currently provides borrowing capacity of up to $5 million and expires on May 3, 2026. The Credit Agreement secured by the Company’s properties was executed May 3, 2023. Under the terms of the Credit Agreement, borrowings bear interest at an annual rate equal to the three-month Secured Overnight Financing Rate (“SOFR”) based on the consolidated leverage ratio as defined in the agreement. The interest payment is due quarterly in arrears on the last business day of each quarter. The Credit Agreement contains affirmative and negative covenants as well as customary events of default. In addition, the Company must comply with certain financial and non-financialcovenants and agree to pay a fee equal to the product of the unused line fee rate and the average of the daily unused available credit balances. The unused line fee rate is 0.5%. At December 31, 2023, the Company had no borrowings outstanding under the credit facility. At December 31, 2023, the Company was in compliance with all required covenants and had available borrowing capacity of $5 million.

| 14. | Long-Term Debt |

On March 31, 2022, in conjunction with the acquisition of SJIG Target LLC, the Company entered into a $15 million 10-yearcommercial loan agreement with a commercial bank. The loan is fully collateralized by assets of the Company. The Company repaid the loan in full on May 3, 2023. On March 31, 2022, in connection with the acquisition of SJIG Target LLC, the Company issued $10 million of 5-yearpromissory notes at 0% interest with the former owners of SJIG Target LLC. On May 10, 2022, as part of the Clegg acquisition, the Company issued $1.484 million of long-term debt. The loan is for a term of 10 years at 4% interest. The Company repaid the loan in full on March 7, 2023. On May 3, 2023, the Company entered into a $30 million three-yearcommercial loan agreement with a commercial bank. The loan is fully collateralized by assets of the Company.