UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
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Item 1.01 Entry into a Material Definitive Agreement.
On March 27, 2023, RadNet Management, Inc., as borrower, RadNet, Inc. and certain of its subsidiaries, as guarantors, and Barclays Bank PLC, as administrative agent and collateral agent, entered into a First Amendment to Second Amended and Restated First Lien Credit and Guaranty Agreement (the “Amendment”). The Amendment amends the Second Amended and Restated First Lien Credit and Guaranty Agreement dated as of April 23, 2021, by and among RadNet Management, Inc., as borrower, RadNet, Inc. and certain of its subsidiaries, as guarantors, the lenders and issuing banks party thereto and Barclays Bank PLC, as administrative agent and collateral agent (the “Credit Agreement”).
The Amendment replaced the interest rate benchmark, from the London Interbank Offered Rate (“LIBOR”) to the Secured Overnight Financing Rate (“SOFR”) and included credit spread adjustments of 0.11448%, 0.26161% and 0.42826% for interest periods of one month, three months, and six months, respectively. The replacement of LIBOR with SOFR and the credit spread adjustments shall be effective as of March 31, 2023, which is the last day of the last-ending existing interest period of currently outstanding loans bearing interest at LIBOR. Other than the foregoing, the material terms of the Credit Agreement remain unchanged.
The foregoing description does not purport to be a complete description of the Amendment and the Credit Agreement and is subject to, and qualified in its entirety by, the full text of the Amendment, which is filed as Exhibit 10.1 hereto and incorporated by reference herein.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits
| Exhibit Number | Description of Exhibit |
| 10.1 | |
| 104 | Cover Page Interactive Data File (embedded within the inline XBRL document) |
| 2 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| RADNET, INC. | ||
| Date: April 3, 2023 | By: | /s/ Mark D. Stolper |
| Name: | Mark D. Stolper | |
| Title: |
Chief Financial Officer | |
| 3 |