i3 Verticals, Inc. has entered into a new credit agreement with JPMorgan Chase Bank, N.A. as the administrative agent. The filing, dated October 9, 2026, details the terms of an Amended and Restated Credit Agreement signed by i3 Verticals, LLC, the company's subsidiary.
The new agreement replaces the company's previous credit facility, which was originally dated May 8, 2023. Under the current terms, the facility provides aggregate commitments of $350 million in the form of a senior secured revolving credit facility. The company retains the option to request additional commitments for term loan facilities or additional revolving credit, subject to certain conditions and the receipt of commitments from lenders.
The agreement outlines specific financial covenants that the Borrower must maintain. These include a consolidated interest coverage ratio of not less than 3.00 to 1.00 and a consolidated total net leverage ratio of not more than 4.00 to 1.00, both measured at the end of each fiscal quarter.
Interest rates on borrowings will be determined by the base rate or the Term SOFR Rate, plus an applicable margin. The applicable margin varies based on the Borrower’s consolidated total net leverage ratio, ranging from 0.50% to 1.50% for base rate loans and 1.50% to 2.50% for term benchmark loans, depending on the leverage tier.
The obligations under the agreement are unconditionally guaranteed by i3 Verticals, Inc. and its material, wholly owned domestic subsidiaries. The facility is secured by first-priority security interests in substantially all tangible and intangible assets of the Borrower, the Company, and the subsidiaries.
