Item 1.01. Entry into a Material Definitive Agreement.
On June 27, 2025 WhiteHorse Finance Credit I, LLC (“WhiteHorse Credit”), a wholly owned subsidiary of WhiteHorse Finance, Inc. (the “Company”), entered into an Eleventh Amendment (the “Eleventh Amendment”) to the Fifth Amended and Restated Loan Agreement, dated April 28, 2021 (as previously amended on July 15, 2021, October 4, 2021, January 4, 2022, February 4, 2022, March 30, 2022, April 12, 2023, June 28, 2024, November 21, 2024, December 19, 2024 and January 21, 2025), by and among WhiteHorse Credit, as borrower, JPMorgan Chase Bank, National Association, as lender and administrative agent, Citibank, N.A., as collateral agent and securities intermediary, the Company, as portfolio manager, and Virtus Group LP, as collateral administrator (as amended, the “Amended Loan Agreement”). The Eleventh Amendment, among other things, (i) changes the definition of “Optional Commitment Reduction Date” from July 17, 2025 to June 23, 2025; (ii) removes WhiteHorse Credit’s right to prepay outstanding advances in whole or in part on the Optional Commitment Reduction Date; and (iii) reduces the Financing Commitments agreed by WhiteHorse Credit and the lenders from $235,000,000 to $100,000,000 on the Optional Commitment Reduction Date. Capitalized terms used herein without definition have the meanings assigned to them in the Amended Loan Agreement, as amended by the Eleventh Amendment.
The description above is only a summary of the modifications pursuant to the Eleventh Amendment and is qualified in its entirety by reference to a copy of the Eleventh Amendment which attaches the Amended Loan Agreement, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 2.03. Creation of Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.
Forward-Looking Statements
This Current Report on Form 8-K may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this Current Report on Form 8-K may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in filings with the Securities and Exchange Commission. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this Current Report on Form 8-K.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits:
| |
10.1 | Eleventh Amendment to Fifth Amended and Restated Loan Agreement, dated June 27, 2025, by and among WhiteHorse Finance Credit I, LLC, as borrower, JPMorgan Chase Bank, National Association, as lender and administrative agent, Citibank, N.A., as collateral agent and securities intermediary, WhiteHorse Finance, Inc., as portfolio manager, and Virtus Group LP, as collateral administrator |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
