Teamshares Inc: enters $130,000,000 senior secured term loan

What happened

• Teamshares Inc reported that on Oct 16, 2026 its indirect wholly owned subsidiary, Teamshares Continuity Holdings LLC (the Borrower), entered into a Credit Agreement establishing a senior secured term loan facility in the aggregate principal amount of $130,000,000, which was funded in full on the Closing Date. The Company, Teamshares LLC and certain subsidiaries are guarantors. The Company issued a press release about the transaction on Oct 19, 2026.

Key details

• Term Loan matures on the fourth anniversary of the Closing Date (Oct 16, 2030) and requires quarterly principal payments on the last business day of each Mar, Jun, Sep and Dec starting Dec 31, 2026: $6,250,000 per quarter through Sep 30, 2027; $7,500,000 per quarter through Sep 30, 2028; $8,750,000 per quarter through Sep 30, 2029; and $10,000,000 per quarter through Sep 30, 2030.
• Interest is one-month Term SOFR (subject to a floor of 3.00%) plus 9.50% per annum, payable monthly in arrears in cash. Voluntary prepayment allowed on three business days’ notice without premium or penalty.
• Proceeds, together with cash on hand and released restricted cash, are planned to be used to repay in full outstanding obligations under the existing credit agreement. Obligations are secured by a first-priority lien on substantially all assets and by equity pledges of Teamshares LLC and the Borrower; material subsidiaries are or will join as guarantors.
• The Credit Agreement includes customary affirmative and negative covenants, restrictions on dividends and repurchases by the Company without the agent’s consent, and financial covenants including maximum net leverage, minimum EBITDA yield, free cash flow yield and minimum liquidity tests. It also contains customary events of default.

Why it may matter

• The filing reports Item 1.01 (entry into a material definitive agreement), Item 2.03 (creation of a direct financial obligation), and Item 3.03 (material modification to rights of security holders). These items cover the new Credit Agreement and Term Loan, the related guarantees and liens, and restrictions on dividends and certain equity repurchases. This filing does not show why the insider traded or why the company acted.