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NerdWallet, Inc. (NASDAQ: NRDS) filed an 8-K disclosing that on June 13, 2025 it executed a Third Amendment to its September 26, 2023 Credit Agreement with JPMorgan Chase Bank, N.A. and a syndicate of lenders.
The amendment is classified as a Material Definitive Agreement (Item 1.01) and makes four key changes:
- Unrestricted subsidiaries: Several wholly-owned subsidiaries are re-designated as unrestricted, removing them from most covenant calculations.
- Acquisition authority: These unrestricted subsidiaries are now permitted to make acquisitions without prior lender consent.
- Investment capacity: The parent company may invest up to $20 million per fiscal year in unrestricted subsidiaries.
- Administrative relief: Certain post-closing deliverables from the original 2023 credit closing are waived.
All other material terms, including pricing, maturity, and existing covenants, remain unchanged. The complete amendment will be filed as an exhibit with the company’s Form 10-Q for the quarter ending June 30, 2025.
No financial performance metrics, changes in debt limits, interest rates, or guidance were provided in this filing.