Item 1.01. Entry into a Material Definitive Agreement.
OnJanuary 4, 2022 ,OrthoPediatrics Corp. (the "Company") entered into a Third Amendment (the "Amendment") to its Fourth Amended and Restated Loan and Security Agreement (the "Agreement") amongSquadron Capital LLC , aDelaware limited liability company, the Company, and the other Borrowers (as defined in the Agreement), dated as ofDecember 31, 2017 . The Amendment addresses the transition of the interest rate calculation from a LIBOR (London Interbank Offered Rate) based rate to a SOFR (Secured Overnight Financing Rate) based rate. The previous interest rate on the facilities was at the greater of (a) three month LIBOR plus 8.61% and (b) 10.0%. Following the Amendment, the interest rate on the facilities is the greater of (a) six month SOFR plus 8.69% and (b) 10.0%. The foregoing description of the Amendment is not complete and is qualified in its entirety by reference to the Amendment which is filed as Exhibit 10.1 and is incorporated herein by reference.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information set forth under Item 1.01 above is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. Description
10.1 Third Amendment to the Fourth Amended and
Restated Loan Agreement, dated as
ofDecember 31, 2021 , by and among
named therein andSquadron Capital LLC 104 Cover Page Interactive Data File (embedded
within the Inline XBRL document).
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