Company: PHR
Filing Date: 2025-11-12
Form Type: 8-K
Source: 0001412408-25-000114
Chunk: 1

Company: Phreesia, Inc.
Filing Date: 2025-11-12
Form: 8-K
Item: Item 1.01
Chunk 1
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 in each case subject to certain exceptions, limitations and customary exclusions from the collateral.

The Bridge Credit Agreement contains customary affirmative covenants, including financial statement reporting requirements and delivery of compliance certificates. The Bridge Credit Agreement also contains customary negative covenants that limit the Company’s ability to, among other things, grant or incur liens, dispose of assets, incur additional indebtedness, make certain investments, restricted payments or restricted debt payments, enter into certain mergers and acquisitions, subject in each case to certain customary exclusions, exceptions and baskets. In addition, the Bridge Credit Agreement contains a financial covenant that requires the Company to maintain a leverage ratio as per the levels prescribed in the Bridge Credit Agreement.

The Bridge Credit Agreement also contains customary events of default (subject to certain exceptions, thresholds and grace periods), including, among other things, the failure to pay obligations when due, breach of covenants, cross-default to certain other indebtedness (including the Capital One Credit Facility), bankruptcy-related defaults, certain monetary judgment defaults, and certain change of control events. The occurrence of an event of default may result in the termination of the Bridge Credit Agreement and acceleration of repayment obligations with respect to any outstanding obligations under the Bridge Credit Facility.

The foregoing description of the Bridge Credit Agreement and the Bridge Loan does not purport to be complete and is qualified in its entirety by reference to the full and complete terms of the Bridge Credit Agreement, which is filed as Exhibit 10.1 hereto and incorporated herein by reference.

Certain of the lenders under the Bridge Loan and/or their affiliates have, from time to time performed, and may in the future perform, various financial advisory and investment banking, commercial banking and other services for the Company and its affiliates, for which they received or will receive customary fees and expense reimbursement.

The Company expects to refinance or replace the Bridge Loan with a long-term credit facility.

First Amendment to Credit Agreement and First Amendment to Security Agreement

On the Closing Date, in connection with the closing of the AccessOne Acquisition, the Company entered into the First Amendment to Credit Agreement and First Amendment to Security Agreement (the “ Amendment”) by and among the Company, the lenders party thereto, and Capital One, which amends certain terms of the Capital One Credit Agreement and the Guaranty and Security Agreement, each dated as of December 4, 2023 (the “ Guaranty and Security Agreement”), by and among the Company and Capital One.

The Amendment modifies certain language to ensure that the consummation of the AccessOne Acquisition