Park Dental (PARK) revises U.S. Bank credit facility after IPO

Rhea-AI Filing Summary

Park Dental Partners, Inc. entered into an Amendment Agreement with U.S. Bank National Association to modify its existing credit facility, effective January 1, 2026 and dated February 13, 2026. The underlying Credit Agreement includes a revolving line of credit of up to $15,000,000 and a term loan with an original principal amount of $13,000,000.

The amendment is designed to reflect the company’s initial public offering and its ongoing requirements as a public company, including operating and reporting considerations. Detailed terms of the changes are set out in the Amendment Agreement filed as Exhibit 10.1 to this report.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 13, 2026

Park Dental Partners, Inc.

(Exact name of registrant as specified in its charter)

Minnesota		001-42967		93-2020683
(State or other jurisdiction of		(Registration Number)		(I.R.S. Employer
incorporation or organization)				Identification Number)

2200 County Road C West, Suite 2210

Roseville, Minnesota 55113

(651) 633-0500

(Address, including zip code, and telephone number, including area code, of registrant’s principal executive offices)

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:

¨ 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 class		Trading Symbol		Name of each exchange on which registered
Common Stock, par value $0.0001 per share		PARK		The Nasdaq Capital Market

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 x

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. x

Item 1.01. Entry into a Material Definitive Agreement.

Amendment to Credit Agreement

On February 13, 2026 (with an effective date of January 1, 2026), Park Dental Partners, Inc. (the “Company”), together with PDG, P.A., Dental Specialists of Minnesota, PLLC, Orthodontic Specialists of Minnesota, PLLC, The Facial Pain Center, PLLC, and PDP MN, LLC (collectively with the Company, the “Borrowers”), entered into an Amendment Agreement (the “Amendment”) with U.S. Bank National Association (the “Lender”) to amend that certain Amended and Restated Credit Agreement, dated as of March 27, 2024 (as amended, the “Credit Agreement”). The Credit Agreement provides for (i) a revolving line of credit in an original principal amount of up to $15,000,000 and (ii) a term loan in an original principal amount of $13,000,000.

The Amendment was entered into to reflect, among other considerations, the Company’s initial public offering and related public-company operating and reporting considerations. The principal changes made by the Amendment are:

· Extension of revolving line of credit. The Amendment extends the stated maturity date of the revolving facility to March 27, 2029.

· Covenant updates / public-company alignment. The Amendment also updates certain provisions of the Credit Agreement, including (among other things) (i) modifying the financial covenants to require a minimum Fixed Charge Coverage Ratio of 1.15 to 1.00 and a maximum Total Cash Flow Leverage Ratio of 4.00 to 1.00, and (ii) updating a quarterly reporting covenant to require delivery of quarterly financial statements within 45 days after fiscal quarters ending March 31, June 30, and September 30.

· Shareholder loans for equity-vesting tax obligations; previously disclosed promissory notes. The Company previously disclosed, under the caption “Shareholder Promissory Notes” in the section “Certain Relationships and Related Party Transactions” of Amendment No. 1 to its Registration Statement on Form S-1 (Registration No. 333-290001) filed with the SEC on September 24, 2025, that it intended to offer promissory notes to certain doctor shareholders to provide liquidity options for tax obligations that may be due in connection with equity vesting upon consummation of the initial public offering. The Company also included this disclosure under the same caption in its final prospectus dated December 2, 2025 and filed with the SEC on December 3, 2025 pursuant to Rule 424(b)(4). The Amendment updates the Credit Agreement to permit such transactions.

The foregoing description is qualified in its entirety by reference to the Amendment, a copy of which is filed as Exhibit 10.1 hereto and incorporated herein by reference.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

To the extent required by Item 2.03 of Form 8-K, the information contained in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03

Item 9.01 Financial Statements and Exhibits.

(d) The following exhibits are being filed herewith:

Exhibit No.		Description
10.1		Amendment Agreement, dated as of February 13, 2026 (effective January 1, 2026), by and among the Company, certain affiliated borrower entities, and U.S. Bank National Association.
104		Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: February 19, 2026

	PARK DENTAL PARTNERS, INC.
	By:	/s/ Christopher J. Bernander
	Name: Christopher J. Bernander
	Title: Chief Financial Officer

FAQ

What credit agreement did Park Dental Partners (PARK) amend?

Park Dental Partners amended its existing Amended and Restated Credit Agreement with U.S. Bank National Association. This agreement includes a revolving line of credit and a term loan that support the company’s borrowing needs and day-to-day financial flexibility.

What are the key borrowing amounts in Park Dental Partners’ credit facility?

The credit facility provides a revolving line of credit with an original principal amount of up to $15,000,000 and a term loan with an original principal amount of $13,000,000. These amounts define the main borrowing capacity available under the agreement.

Why did Park Dental Partners (PARK) amend its credit agreement?

The amendment was made to reflect Park Dental Partners’ initial public offering and related public-company operating and reporting considerations. Aligning the credit agreement with public-company status helps coordinate financing terms with new regulatory and disclosure requirements.

When does the amended credit agreement for Park Dental Partners become effective?

The Amendment Agreement is dated February 13, 2026 and is effective as of January 1, 2026. This effective date governs when the revised credit terms apply to Park Dental Partners and the affiliated borrower entities named in the document.

Who are the borrowers under Park Dental Partners’ amended credit agreement?

Borrowers include Park Dental Partners, Inc., PDG, P.A., Dental Specialists of Minnesota, PLLC, Orthodontic Specialists of Minnesota, PLLC, The Facial Pain Center, PLLC, and PDP MN, LLC. These affiliated entities share access to the credit facility with U.S. Bank.

Which exhibit contains the full Amendment Agreement for Park Dental Partners (PARK)?

The full text of the Amendment Agreement is provided as Exhibit 10.1. This exhibit includes the detailed terms and conditions governing the revised credit arrangement between Park Dental Partners, the affiliated borrowers, and U.S. Bank National Association.

Filing Exhibits & Attachments

4 documents

Agreements & Contracts

• EX-10.1 EXHIBIT 10.1 62.2 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA 3.0 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE 33.4 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE 21.9 KB