Option Care Health Inc.

09/25/2025 | Press release | Distributed by Public on 09/25/2025 14:06

Material Agreement, Financial Obligation (Form 8-K)

Item 1.01. Entry into a Material Definitive Agreement

On September 22, 2025, Option Care Health Inc. (the "Company") entered into that certain Fourth Amendment to Amended and Restated First Lien Credit Agreement (the "Amendment"), by and among the Company, as borrower, certain subsidiaries of the Company party thereto, each 2025 Refinancing Term Lender, each 2025 Incremental Term Lender, each Extending Revolving Credit Lender and Bank of America, N.A., as administrative agent (the "Agent"), which amends that certain Amended and Restated First Lien Credit Agreement, dated as of October 27, 2021 (as amended by that certain First Amendment to Amended and Restated First Lien Credit Agreement, dated as of June 8, 2023, that certain Second Amendment to Amended and Restated First Lien Credit Agreement, dated as of December 7, 2023, that certain Third Amendment to Amended and Restated First Lien Credit Agreement, dated as of May 8, 2024, and the Amendment, the "Credit Agreement"), by and among the Company, as borrower, certain subsidiaries of the Company from time to time party thereto, the Lenders from time to time party thereto and the Agent. The Amendment, among other things, (i) refinances the existing term loans under the Credit Agreement with a new class of term loans bearing interest at a lower interest rate of Term SOFR plus 1.75% and maturing seven years after the effective date of the Amendment, (ii) provides for incurrence of incremental term loans in the aggregate principal amount of $49,639,386.20, which bear interest at the same interest rate and have the same maturity date as provided in the foregoing clause (i), and (iii) extends the maturity date of the revolving credit commitments under the Credit Agreement to the fifth anniversary of the effective date of the Amendment (subject to a springing maturity date moving the maturity date of such revolving credit commitments to 91 days prior to the maturity date of the Unsecured Notes to the extent any amount of the Unsecured Notes remains unpaid as of such date). Post-Amendment, the principal amount of the First Lien Term Loan indebtedness under the Credit Agreement is approximately $678,000,000.

The foregoing description of the Amendment is not complete and is qualified in its entirety by reference to the full text of the Amendment, which is attached to this Current Report on Form 8-K as Exhibit 10.1, and is incorporated herein by reference. Capitalized terms used in this Item 1.01 but not defined herein have the meaning assigned to such terms in the Amendment or the Credit Agreement, as applicable.

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 in Item 1.01 above is incorporated into this Item 2.03 by reference.

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