DHI Group, Inc. Enters into Credit Agreement

DHI Group, Inc. has entered into a Credit Agreement with Bank of America, N.A. as administrative agent, swingline lender, and L/C issuer. The agreement provides for a senior secured revolving credit facility with aggregate commitments of $70 million, including a $5 million sublimit for letters of credit and a $5 million sublimit for swingline loans. Proceeds from the facility can be used for working capital, refinancing existing debt, and other corporate purposes. The agreement also includes an accordion feature allowing for an increase in commitments by up to $37.5 million under certain conditions. Two subsidiaries, ClearanceJobs, LLC and Point Solutions Group, LLC, will act as guarantors, and the facility is secured by substantially all of the personal property of the borrowers and guarantors. The facility matures on April 1, 2030, and borrowings can be prepaid without penalty. On the closing date, approximately $33 million was borrowed to repay existing indebtedness under a previous credit agreement. Interest rates vary based on loan type and the Company's Consolidated Leverage Ratio, with options for Base Rate or Term SOFR for USD-denominated loans and Alternative Currency Term Rate or Alternative Currency Daily Rate for other currencies. The agreement contains customary covenants, including financial covenants such as a maximum consolidated leverage ratio and a minimum consolidated fixed charge coverage ratio, as well as restrictions on certain actions like incurring additional debt, granting liens, and making restricted payments. Events of default, including non-payment, covenant violations, and change of control, can lead to acceleration of obligations. The Company has also terminated its prior credit agreement in connection with entering into this new facility.