Lumexa Imaging Holdings, Inc. 8-K

What Happened

• Lumexa Imaging Holdings, Inc. (LMRI) filed an 8-K on June 30, 2026 to disclose Amendment No. 7 to its Credit Agreement. The amendment creates a secured Replacement Term Loan of approximately $823 million and amends a secured revolving credit facility of $250 million. Barclays Bank PLC is the administrative agent for the lenders.

Key Details

• Replacement Term Loan: ~ $823 million; interest at borrower’s option of SOFR + 2.50% or Prime + 1.50%; maturity December 2032.
• Amended Revolving Credit Facility: $250 million; interest at SOFR + 2.50% or Prime + 1.50% (rate may reduce if certain senior secured net leverage ratios are met); maturity December 2030.
• Covenants: restrictions on subsidiaries’ ability to incur additional debt, pay dividends/distributions, and engage in specified transactions; customary lender remedies on default.
• Financial covenant trigger: if outstanding revolving exposure > 40% of the revolver principal on the last day of a quarter, the Company’s consolidated net leverage ratio must not exceed 7.50:1 on that date.
• Security and guarantees: the agreement is guaranteed by substantially all wholly owned subsidiaries and secured by substantially all their assets, subject to exceptions. Amendment No. 7 is filed as Exhibit 10.1.

Why It Matters

• This amendment establishes significant new secured financing ($823M term loan plus $250M revolver) that will affect the company’s capital structure and liquidity profile.
• The agreement includes restrictive covenants and a leverage-based financial test that, if triggered, could limit dividends, additional borrowing and other actions — and could lead to default remedies even if the subsidiaries can meet interest payments.
• Investors should note maturity schedules and interest-rate mechanics (SOFR or Prime) and monitor the company’s leverage metrics and revolver usage, since those determine covenant application and potential constraints on corporate actions.