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Teamshares Retires Legacy Credit Facility with Term Loan Maturing 4Q 2030

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  • Teamshares repaid its $150 million legacy credit facility in full using a new $130 million four-year term loan arranged by Sound Point Capital affiliates and cash on hand.
  • The new term loan matures in the fourth quarter of 2030 and carries a floating rate of 9.5% above SOFR, representing a 1.5% absolute or 14% relative improvement over the previous facility.
  • Annual interest expense is projected to decrease by approximately $5 million at current SOFR levels before amortization or further refinancing.
  • The company initiated an early repayment of $17 million in existing mezzanine debt, which is expected to reduce annual interest expense by an additional $3 million.
  • The refinancing preserves flexibility to repay the term loan at any time and maintains the ability to secure additional debt financing for acquisition growth.
  • CEO Michael Brown highlighted the company's progress since listing on Nasdaq, including signed LOIs for a $40 million EBITDA acquisition plan and a target of $100 million Pro Forma Adjusted EBITDA for 2027.
  • CFO Brian Gaebe described the private credit financing as a bridge to lower spreads expected from increased scale, cash flow, and eventual access to public debt markets.
  • Goldman Sachs & Co. LLC served as the exclusive capital markets advisor, with Mayer Brown LLP as legal counsel for Teamshares and Holland & Knight LLP as legal counsel for Sound Point Capital.
  • Detailed terms of the transaction will be disclosed in the company's Form 8-K filed with the SEC.