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N-able (NYSE: NABL) secures $75M delayed draw term loan capacity

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

N-able, Inc. amended its existing credit agreement through a Third Amendment, adding a new delayed draw term loan facility. This facility allows the company to incur up to $75.0 million of additional term loans on the same maturity, interest rate and key terms as its current term loans.

The delayed draw term loans will be available for six months after the amendment becomes effective and will bear a floating SOFR-based rate with a 0.0% floor plus a margin initially set at 2.75%, which can decrease to 2.50% if the first lien net leverage ratio is at or below 1.65 to 1.00. N-able may use the proceeds for general corporate purposes, including deferred consideration from its November 2024 Adlumin acquisition, future permitted acquisitions, share repurchases, and related fees and expenses.

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Insights

N-able added a $75M delayed draw term loan on existing terms.

N-able has expanded its debt capacity by arranging up to $75.0 million in delayed draw term loans under its existing credit agreement. The loans share the same maturity, interest rates and other material terms as the current term loan facility, limiting structural complexity.

Pricing is a floating SOFR-based rate with a 0.0% floor plus a margin initially at 2.75%, stepping down to 2.50% if the first lien net leverage ratio is at or below 1.65% to 1.00. This embeds an incentive to maintain lower leverage.

The proceeds can fund general corporate purposes, including deferred consideration from the November 2024 Adlumin acquisition, future permitted acquisitions, share repurchases, and associated fees and expenses. Actual balance sheet impact will depend on how much of the facility is drawn during the six‑month availability window described.

Item 1.01 Entry into a Material Definitive Agreement Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement Financial
The company incurred a new significant debt or off-balance-sheet obligation.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Delayed Draw Term Loan Facility size $75.0 million Maximum additional term loans available under Amendment No. 3
Interest margin initial 2.75% Margin over SOFR-based rate for existing and delayed draw term loans
Interest margin step-down 2.50% Applies if first lien net leverage ratio ≤ 1.65 to 1.00
Leverage ratio threshold 1.65 to 1.00 First lien net leverage ratio condition for margin reduction
SOFR floor 0.0% Minimum reference rate for term loan interest calculation
Availability period Six months Time after effectiveness of Amendment No. 3 to draw loans
Third Amendment to Credit Agreement financial
"entered into a Third Amendment to Credit Agreement (“Amendment No. 3”) by and among the Borrower"
Delayed Draw Term Loan Facility financial
"to add a delayed draw term loan facility (the “Delayed Draw Term Loan Facility”) pursuant to which the Company may incur up to $75.0 million"
A delayed draw term loan facility is a committed loan that a borrower can tap in one or more installments at specified future times after meeting agreed conditions, rather than receiving the full amount upfront. For investors it matters because it provides a ready source of cash that can change a company’s financial strength, leverage and interest costs when drawn—similar to having a reserved credit line you can use later, which affects liquidity and the risk profile of the business.
SOFR-based rate financial
"bears interest at a floating SOFR-based rate (subject to a “floor” of 0.0%) for a specified interest period plus a margin"
first lien net leverage ratio financial
"subject to a decrease to 2.50% if the Company’s first lien net leverage ratio is equal to or lower than 1.65 to 1.00"
First lien net leverage ratio measures how much of a company’s top-priority secured debt remains after using available cash, compared with the company’s recurring cash earnings. Think of it like the size of a primary mortgage relative to your annual take-home pay after you count money in your savings account. Investors use it to judge credit risk and borrowing capacity: a higher ratio suggests greater default risk, tighter financing terms, or covenant pressure.
term loan facility financial
"Delayed Draw Term Loans that are fungible with the Company’s existing term loan facility and have the same maturity date"
A term loan facility is a type of loan provided by a lender that is repaid over a set period of time, usually with fixed payments. It functions like a large, upfront loan that a borrower agrees to pay back gradually, often used to fund major investments or projects. For investors, understanding a company's use of such loans helps assess its financial stability and risk level.
general corporate purposes financial
"the proceeds may be used for general corporate purposes, including funding deferred consideration payments"
"General corporate purposes" refer to the broad range of activities and expenses a company can use its funds for to support its overall operations and growth. This can include things like paying bills, investing in new projects, or strengthening its financial position. For investors, understanding this term helps clarify how a company plans to use its resources to sustain and expand its business over time.
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Understanding 8-K Material Events →
0001834488False00018344882026-06-162026-06-16

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
 
FORM 8-K
 CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
June 16, 2026
Date of Report (Date of earliest event reported)
 
N-able, Inc.
(Exact name of registrant as specified in its charter)
   
Delaware001-4029785-4069861
(State or other jurisdiction
of incorporation)		(Commission
File Number)		(IRS Employer
Identification No.)
30 Corporate Drive
Suite 400
Burlington, Massachusetts 01803
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (781) 328-6490

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of Each ClassTrading SymbolName of Each Exchange on Which Registered
Common Stock, $0.001 par valueNABLNew York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐  


Item 1.01Entry into a Material Definitive Agreement.
On June 16, 2026 (the “Amendment No. 3 Effective Date”), N-able International Holdings II, LLC (the “Borrower”), an indirect, wholly owned subsidiary of N-able, Inc. (the “Company”), entered into a Third Amendment to Credit Agreement (“Amendment No. 3”) by and among the Borrower, N-able International Holdings I, LLC (“Holdings”), the other guarantors party thereto, the lenders and issuing banks identified therein and JPMorgan Chase, Bank, N.A. as administrative agent, collateral agent and an issuing bank, which amends that certain Credit Agreement, dated July 19, 2021, by and among the Borrower, Holdings, the lenders and issuing banks identified therein and JPMorgan Chase, Bank, N.A. as administrative agent, collateral agent and an issuing bank (as amended, restated, amended and restated, supplemented or otherwise modified from time to time prior to the Amendment No. 3 Effective Date, the “Credit Agreement”).

Amendment No. 3 amended the Credit Agreement to add a delayed draw term loan facility (the “Delayed Draw Term Loan Facility”) pursuant to which the Company may incur up to $75.0 million of additional term loans (the “Delayed Draw Term Loans”) that are fungible with the Company’s existing term loan facility and have the same maturity date, interest rates and other material terms as the existing term loans. The Delayed Draw Term Loan Facility will be available for borrowing during a six-month availability period following the effectiveness of Amendment No. 3 and the proceeds may be used for general corporate purposes, including funding deferred consideration payments associated with the Company’s November 2024 acquisition of Adlumin, Inc., future permitted acquisitions, share repurchases, and related fees and expenses.

Borrowings under the Delayed Draw Term Loan will bear interest at the same rate as the existing term loan, which bears interest at a floating SOFR-based rate (subject to a “floor” of 0.0%) for a specified interest period plus a margin initially set at 2.75%, subject to a decrease to 2.50% if the Company’s first lien net leverage ratio is equal to or lower than 1.65 to 1.00.

The foregoing description of the material terms of Amendment No. 3 does not purport to be a complete description of Amendment No. 3 and is qualified in its entirety by reference to the full text thereof, which the Company will file as an exhibit to its Quarterly Report on Form 10-Q for the quarter ending June 30, 2026.

Item 2.03
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information in Item 1.01 is incorporated herein by reference.

Item 9.01Financial Statements and Exhibits.
(d)Exhibits.

Exhibit
Number		  Description
104Cover Page Interactive Data File (formatted as Inline XBRL)




SIGNATURE

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.
N-able, Inc.
Dated:June 17, 2026By:/s/ Tim O'Brien
Tim O'Brien
Chief Financial Officer



Source: View Original Filing on SEC EDGAR

FAQ

What new financing did N-able (NABL) arrange in this 8-K filing?

N-able arranged a new delayed draw term loan facility for up to $75.0 million. These loans are fungible with the existing term loan facility, sharing the same maturity, interest rates and other material terms under the amended credit agreement.

How long is N-able’s new $75 million delayed draw term loan facility available?

The delayed draw term loan facility is available for borrowing during a six‑month availability period following the effectiveness of Amendment No. 3. After that period, N-able can no longer initiate new borrowings under this specific delayed draw feature.

What interest rate applies to N-able’s delayed draw term loans?

Borrowings will bear interest at a floating SOFR-based rate with a 0.0% floor plus a margin initially set at 2.75%. The margin may decrease to 2.50% if N-able’s first lien net leverage ratio is at or below 1.65 to 1.00.

How can N-able use the proceeds from the new delayed draw term loans?

N-able may use proceeds for general corporate purposes, including deferred consideration payments for its November 2024 Adlumin acquisition, future permitted acquisitions, share repurchases, and related fees and expenses, as outlined in the amendment to its credit agreement.

Which subsidiary of N-able is the borrower under Amendment No. 3?

The borrower under Amendment No. 3 is N-able International Holdings II, LLC, an indirect, wholly owned subsidiary of N-able, Inc. Holdings and other guarantors, along with lenders and issuing banks, are also parties to the amended credit agreement.

Who is the administrative and collateral agent for N-able’s amended credit agreement?

The administrative agent, collateral agent and an issuing bank for the amended credit agreement is JPMorgan Chase Bank, N.A.. It serves in the same roles for both the existing term loan facility and the new delayed draw term loan facility.

Filing Exhibits & Attachments

3 documents

Other Documents