Company: EVCM
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0001853145-25-000009
Chunk: 163

Company: EverCommerce Inc.
Filing Date: 2025-03-13
Form: 10-K
Item: Item 8
Chunk 163
---
, plus an applicable margin of 3.25% (6.85701% at December 31, 2024), and outstanding balance due July 2026— — Principal debt532,125 537,625 Deferred financing costs on long-term debt(3,069)(3,983)Discount on long-term debt(1,114)(1,446)Total debt527,942 532,196 Less current maturities5,500 5,500 Long-term portion$522,442 $526,696 (1) Prior to December 13, 2024, the applicable rate for the Term Loans was 3.00%  for Adjusted SOFR borrowings. See below for further details regarding the amendments to the Credit Facilities.The Company is party to a credit agreement, as amended, that provides for one term loan for an aggregate principal amount of $550.0 million (the “Term Loan”), a revolver with a capacity of $190.0 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. These debt arrangements are collectively referred to herein as the “Credit Facilities”.

II-41

   EverCommerce Inc.Notes to Consolidated Financial Statements

Effective as of July 1, 2023, borrowings under the Credit Facilities bear interest at the Company’s option at 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, adjusted SOFR of 0.0% 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 the Adjusted SOFR for a one month interest period plus 1%.On December 13, 2024, the Company entered into an amendment (the “Amendment”) to the Credit Facilities to reduce the applicable margin and remove the credit spread adjustment from the existing Term Loan in their entirety in an aggregate principal