I3 Verticals: enters $350,000,000 revolving credit agreement

What happened

• The filing says that on Oct 9, 2026 i3 Verticals, LLC, a subsidiary of i3 Verticals, Inc., entered into an Amended and Restated Credit Agreement with the guarantors and lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent. The agreement replaces the prior credit agreement dated May 8, 2023.
• The Amended and Restated Credit Agreement provides aggregate commitments of $350,000,000 in a senior secured revolving credit facility (the "Revolver") and gives the Borrower the right to seek additional commitments up to the sum of (i) the greater of $100,000,000 and 100% of the Borrower’s consolidated EBITDA for the most recently completed four-quarter period, plus (ii) certain prepayments of certain indebtedness, subject to conditions and receipt of commitments.

Key details

• Use of proceeds: proceeds may be used to finance working capital, capital expenditures and other lawful corporate purposes.
• Pricing and fees: borrowings may be at the base rate or the Term SOFR Rate plus an applicable margin. Base rate is defined as the highest of (a) the greater of the federal funds rate or the overnight bank funding rate plus 0.50%, (b) the Wall Street Journal prime rate, or (c) the Term SOFR Rate for a one-month period plus 1.00%, with a floor of 1.00%. Margins and fees vary by consolidated total net leverage ratio: margin on Term SOFR loans 1.50%–2.50%, margin on base rate loans 0.50%–1.50%, commitment fee 0.125%–0.275%, letter of credit fee 1.50%–2.50%.
• Guarantees and security: all obligations are unconditionally guaranteed by the Company and each existing and future direct and indirect material, wholly owned domestic subsidiary (subject to exceptions) and are secured by first-priority security interests in substantially all tangible and intangible assets of the Borrower, the Company and each subsidiary guarantor.
• Covenants and defaults: the Borrower must maintain a consolidated interest coverage ratio of not less than 3.00 to 1.00 and a consolidated total net leverage ratio of not more than 4.00 to 1.00 at the end of each fiscal quarter. The agreement includes customary restrictions and customary events of default.

Why it may matter

• Item reported: Item 2.03 (creation of a direct financial obligation) was reported; the item covers the new Amended and Restated Credit Agreement and its material terms described above. A filing does not show why the insider traded or why the company acted.