OrthoPediatrics Corp. and Squadron Capital LLC enter Third Amendment to its Fourth Amended and Restated Loan and Security Agreement

On January 4, 2022, OrthoPediatrics Corp. entered into a Third Amendment to its Fourth Amended and Restated Loan and Security Agreement among Squadron Capital LLC, the Company, and the other Borrowers (as defined in the Agreement), dated as of December 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%.