SPORTSMAN'S WAREHOUSE HOLDINGS, INC. 8-K

What Happened

On June 18, 2026, Sportsman’s Warehouse, Inc. (SWI), a wholly owned subsidiary of Sportsman’s Warehouse Holdings, Inc., entered into an Amended and Restated ABL Term Loan Credit Agreement (A&R Term Loan Agreement) with PLC Agent LLC (Pathlight Agent) that revises the company’s outstanding $45.0 million term loan and extends the maturity to June 18, 2031. On the same date SWI and the Company also entered into a Third Amendment to the Amended and Restated Credit Agreement (the Amended Credit Agreement) with Wells Fargo Bank, N.A., reducing the revolving credit commitment to $315.0 million (from $350.0 million) and extending its maturity to June 18, 2031. All borrowings remain guaranteed by the parent and secured by liens on substantially all of the Company’s and its subsidiaries’ working capital assets.

Key Details

• Term loan: $45.0 million outstanding; maturity extended to June 18, 2031 (5-year term from amendment). Interest = Term SOFR + 0.10% SOFR adjustment + applicable margin (4.00% or 7.00% depending on loan type); conversion to base rate loans increases margin by 1.0%.
• Revolving credit facility: $315.0 million committed (reduced from $350.0 million); maturity June 18, 2031. Interest options = base rate or Term SOFR + applicable margin (base rate margin 0.75%–1.00%; Term SOFR margin 1.75%–2.00%). Commitment fee on unused portion = 0.25%–0.30% per annum.
• Availability under the term loan is subject to a borrowing base calculation (eligible credit card receivables, eligible inventory, revolver borrowing base and reserves). Agreements include customary covenants, events of default and cross-default mechanics between facilities.
• Loans are secured by liens on substantially all tangible and intangible working capital assets of the Company and its subsidiaries; first-priority lien on certain liquid assets and specified asset classes. Filing also notes creation/modification of direct financial obligations (Item 2.03).

Why It Matters

These amendments extend the company’s debt maturities to mid-2031 and reset borrowing terms, providing multi-year liquidity runway while reducing the revolver size to better match operating needs. The facilities remain secured and guaranteed, which preserves lender protections but also maintains covenants and cross-default risk that investors should monitor. Key items for shareholders: the cost of borrowing (margins tied to SOFR or base rate), the reduced revolver capacity, borrowing-base restrictions, and the priority security interests that could affect flexibility in a financing stress scenario.