In connection with its recapitalization, National Research Corporation closed a credit agreement with First National Bank of Omaha for a revolving credit facility in an initial aggregate principal amount of $15 million, a term loan facility in an initial aggregate principal amount of up to $40 million and a delayed draw-down term facility in an aggregate principal amount of $15 million.
According to a related 8-K filing, the company is using the term loan to fund, in part, to pay holders of class B common stock in connection with its recapitalization. The company may use the delayed draw term loan to fund any future business acquisitions or repurchasing of the company’s common stock and will use the line of credit to fund ongoing working capital needs and for other general corporate purposes, including to pay the fees and expenses incurred in connection with the recapitalization and the credit agreement.
The credit facilities are secured, subject to permitted liens and other agreed upon exceptions, by a first-priority lien on and perfected security interest in substantially all of the company’s and the guarantors’ present and future assets.
The National Research Corporation is a provider of analytics and insights that facilitate measure and improvement of the patient and employee experience.
