[8-K] P10, Inc. Reports Material Event

Rhea-AI Filing Summary

P10, Inc. reported that it entered into interest-rate derivative arrangements tied to its Amended and Restated Credit Agreement dated August 1, 2024. The company sold a 3‑month term SOFR floor at 2.310% and purchased a cap at 4.250% on a notional amount of $211,250,000. The filing states these instruments were executed to manage the variable interest-rate risk associated with borrowings under the credit facility. The disclosure is signed by Amanda Coussens, Chief Financial Officer, and dated September 18, 2025.

Positive

• Established interest-rate hedges covering a material notional of $211,250,000 to address borrowing rate volatility
• Clear alignment of the derivatives with the company’s Amended and Restated Credit Agreement dated August 1, 2024
• Documented counterparty and agent bank roles including JPMorgan Chase Bank, N.A. as administrative and collateral agent

Negative

• None.

Insights

Financial Analyst

TL;DR: Company established $211.25M SOFR-linked hedges to manage variable borrowing costs under its credit facility.

The filing documents a straightforward hedging trade: sale of a 3-month SOFR floor at 2.310% and purchase of a 4.250% cap on a $211,250,000 notional. This structure indicates the company is taking explicit steps to limit exposure to rising short-term SOFR while exchanging certain rate-floor economics. The instruments are linked to the Amended and Restated Credit Agreement dated August 1, 2024, which aligns the hedge with the company’s borrowing profile. Disclosure is concise and factual, without performance metrics or valuation details.

Risk Analyst

TL;DR: The derivatives appear designed to manage interest-rate volatility on outstanding credit facility borrowings.

The positions—selling a 2.310% SOFR floor and buying a 4.250% cap—are explicitly described as risk-management actions for variable-rate borrowings under the company’s credit agreement. The filing provides notional size but does not disclose hedge accounting treatment, counterparty details beyond agent banks, or mark-to-market exposures. The lack of valuation and counterparty specifics limits assessment of counterparty concentration and balance-sheet effects.

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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): September 15, 2025

P10, Inc.

(Exact name of registrant as specified in its charter)

Delaware		001-40937		87-2908160
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

2699 Howell Street, Suite 1000, Dallas, Texas 75204

(Address of principal executive offices) (Zip Code)

(214) 865-7998

(Registrant’s telephone number, including area code)

Not Applicable

(Former Name or former address, if changed since last report)

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 or to be registered pursuant to Section 12(b) of the Act:

Title of Each Class		Trading Symbol		Name of each exchange on which registered
Class A Common Stock, $0.001 par value per share		PX		New York Stock Exchange
				Indicate by check
				NYSE Texas

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

On September 15, 2025, P10, Inc. (the “Company”) and East West Bank (“EWB”) entered into an interest rate collar hedging transaction (the “Collar”) with a USD 3-month term SOFR floor of 2.310% (sold by the Company) and a cap of 4.250% (purchased by the Company), having a notional amount of $211,250,000, to manage the variable interest rate risk associated with the Company’s borrowings under its Amended and Restated Credit Agreement, dated as of August 1, 2024, among the Company, P10 Intermediate Holdings LLC, the other guarantors part thereto, the lenders party thereto (including EWB), and JPMorgan Chase Bank, N.A., as administrative agent and collateral agent.

The Collar has an effective date of September 30, 2025 and a termination date of August 1, 2028, and was confirmed under an existing ISDA Master Agreement including the Schedule thereto and related documentation containing customary representations, warranties and covenants.

SIGNATURES

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.

						P10, INC.
Date: September 18, 2025				By:		/s/ Amanda Coussens
						Amanda Coussens Chief Financial Officer

FAQ

What hedging instruments did P10, Inc. (PX) enter into?

P10 sold a 3-month term SOFR floor at 2.310% and purchased a cap at 4.250% on a notional of $211,250,000.

What is the purpose of P10's SOFR floor and cap transactions?

The filing states the instruments were entered to manage the variable interest-rate risk associated with borrowings under the company’s credit facility.

Which credit agreement are the hedges linked to for P10 (PX)?

They are linked to the company’s Amended and Restated Credit Agreement dated August 1, 2024.

What is the notional amount of the derivatives disclosed by P10?

The notional amount disclosed is $211,250,000.

Who signed the filing for P10, Inc.?

The filing is signed by Amanda Coussens, Chief Financial Officer, dated September 18, 2025.