Company: EVCM
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001853145-25-000037
Chunk: 57

Company: EverCommerce Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 1
Chunk 57
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, plus an applicable margin of 2.50% (6.82681% at June 30, 2025) quarterly principal payments of 0.25% of original principal balance with balloon payment due July 2028 (1)$529,375 $532,125 Revolver with interest payable monthly, interest rate at Adjusted SOFR, plus an applicable margin of 2.50% (6.93677% at June 30, 2025), and outstanding balance due January 2028 (1)— — Principal debt529,375 532,125 Deferred financing costs on long-term debt(2,627)(3,069)Discount on long-term debt(954)(1,114)Total debt525,794 527,942 Less current maturities5,500 5,500 Long-term portion$520,294 $522,442 (1) See Note 20. Subsequent Event for additional information on the July 29, 2025 amendment to refinance and extend the maturity date.The Company is party to a credit agreement, as amended, that provides for one term loan in the aggregate principal amount of $533.5 million (the “Term Loan”), a revolver with a capacity of $155.0 million (the “Revolver”) and a sub-limit of the Revolver available for letters of credit up to an aggregate face amount of $20.0 million as of June 30, 2025. These debt arrangements are collectively referred to herein as the “Credit Facilities”.Effective as of July 1, 2023, borrowings under the Credit Facilities bear interest at the Company’s option at Alternative Base Rate (“ABR”) plus an applicable rate, or at a forward-looking term rate based upon the secured overnight financing rate (“SOFR”), plus (i) (a) with respect to the Term Loan, credit spread adjustments of 0.11448%, 0.26161%, 0.42826% and 0.71513% for interest periods of one, three, six and twelve months, respectively, and (b) with respect to revolving loans, a credit spread adjustment of 0.0% (“Adjusted SOFR”) plus (ii) an applicable rate, in each case with such applicable rate based on the Company’s first lien net leverage ratio. The ABR represents the highest of the prime rate, Federal Reserve Bank of New York rate plus ½ of 1%, and