PROCORE TECHNOLOGIES, INC. 8K

Procore Technologies obtained a binding commitment from Goldman Sachs Bank USA for a $700 million senior secured 364‑day bridge loan facility to finance a pending acquisition, subject to customary conditions and terms.

Procore Technologies, Inc. entered into a commitment letter with Goldman Sachs Bank USA under which Goldman Sachs committed to provide a $700 million senior secured 364‑day bridge loan facility to finance an acquisition described in an accompanying Acquisition Agreement, with the facility to be fully drawn in a single borrowing at closing, guaranteed by Procore’s material wholly owned domestic subsidiaries, secured by substantially all assets of the loan parties (subject to customary exceptions), and subject to specified closing conditions, syndication provisions, fees, indemnities, and confidentiality and other customary bridge financing terms. The bridge commitments will be reduced by proceeds of permanent financing, other specified debt or equity issuances, and certain non‑ordinary‑course asset sales, and will terminate upon the earliest of certain acquisition‑related milestones and outside dates, while Procore agrees to reimburse expenses, provide customary information and projections, and accept New York law (with certain Delaware law carveouts) and New York courts for disputes.

Filing Facts

CIK

1611052

Ticker

-

Form

8K

Source Type

sec

Accession

0001193125-26-323800

Alert Tier

8