Vistance Networks, Inc. 8-K

What Happened
Vistance Networks, Inc. filed an 8‑K on April 7, 2026 disclosing that its subsidiary Vistance Networks Holdings, LLC and certain U.S. subsidiaries entered into a senior secured asset‑based revolving credit agreement with Citibank, N.A. and other lenders. The Revolving Credit Facility provides up to $300 million in aggregate commitments (including up to $100 million available for letters of credit), is available for working capital and general corporate purposes, and is scheduled to mature on April 7, 2031. The full agreement is attached as Exhibit 10.1 to the filing.

Key Details

• Facility amount: up to $300 million total commitments; up to $100 million available for letters of credit; possible increase (plus last‑out incremental facility) by up to $150 million subject to conditions.
• Interest and fees: Term SOFR option (floor 0.00%) + 1.25%–1.50% margin, or alternate base rate option +0.25%–0.50% margin; quarterly unused line fee of 0.25%–0.375%; other customary fees.
• Collateral & guarantees: secured by liens on substantially all assets of the company and certain U.S. subsidiaries; guarantees by the company, revolver borrowers and certain U.S. subsidiaries. Borrowing base is based on eligible U.S. and Mexico accounts receivable and inventory.
• Covenants & covenants trigger: customary affirmative/negative covenants and events of default; a springing financial covenant requires a minimum Covenant Fixed Charge Coverage Ratio of 1.00:1.00 if excess availability falls below the greater of $30 million or 10% of the relevant commitments/borrowing base.

Why It Matters
This agreement provides Vistance with a committed, asset‑based liquidity backstop for working capital and general corporate needs through 2031 and gives the company flexibility to borrow, repay and reborrow as needed. The facility is secured and includes customary financial covenants and borrowing base limits, which investors should monitor because reductions in excess availability could trigger the springing coverage covenant and potential default remedies. The full terms are contained in the Revolving Credit Agreement attached to the 8‑K.