Asure Software, Inc: enters $115,000,000 senior credit facility

What happened

• The filing says that on Oct 15, 2026, Asure Software, Inc entered into a Credit Agreement with MUFG Bank, LTD as administrative agent and lenders providing a Senior Credit Facility of up to $115,000,000. The Company drew the $85,000,000 Initial Loan Balance on Oct 15, 2026. The filing says the Company terminated its prior MC Credit Agreement with MidCap and paid approximately $62,600,000 in full payoff on that facility. The filing also says the Company issued 1,206,141 shares of common stock to the SEUS Seller as part of an asset purchase, valued at $8.29 per share for an aggregate of $10,000,000.

Key details

• Senior Credit Facility components: $85,000,000 term loan (Initial Loan Balance, funded Oct 15, 2026), $10,000,000 five-year revolving facility, $20,000,000 delayed-draw term loan facility; additional capacity up to $30,000,000 subject to conditions.
• Initial interest: the Initial Loan Balance is a three-month Term SOFR loan with an initial rate of 7.04249%; Borrower may choose Term SOFR or Base Rate plus the Applicable Rate, which adjusts quarterly based on Consolidated Net Leverage Ratio.
• Repayment and maturity: quarterly principal payments begin Apr 1, 2027 (2.5% of Initial Loan Balance in year one, 5.0% in years two and three, 7.5% in years four and five), final payment Oct 15, 2031 (Maturity Date).
• Covenants and security: quarterly leverage covenant capped at 3.50 to 1.00 and fixed charge coverage ratio floor of 1.25 to 1.00; the Senior Credit Facility is secured by substantially all of the Company’s assets.

Why it may matter

• Item 1.01 (entry into a material definitive agreement) is reported for the Credit Agreement that creates the Senior Credit Facility and related borrowing terms. Item 1.02 (termination of a material definitive agreement) is reported for the termination of the MC Credit Agreement and payoff to MidCap. Item 3.02 (unregistered sales of equity securities) is reported for the issuance of 1,206,141 shares to the SEUS Seller valued at $10,000,000, exempt under Section 4(a)(2) and Rule 506(b). This filing does not show why the insider traded or why the company acted.