WhiteHorse Finance cuts loan commitments to $50M

WhiteHorse Finance, Inc., through its wholly owned subsidiary WhiteHorse Finance Credit I, LLC, entered into a Twelfth Amendment to its Amended Loan Agreement with JPMorgan Chase Bank and other parties.

Rhea-AI Filing Summary

WhiteHorse Finance, Inc., through its wholly owned subsidiary WhiteHorse Finance Credit I, LLC, entered into a Twelfth Amendment to its Amended Loan Agreement with JPMorgan Chase Bank and other parties. The amendment reduces the Financing Commitments from $100,000,000 to $50,000,000 as of March 10, 2026.

In connection with this change, the administrative agent and lenders agreed to waive the 1% premium they would otherwise have been entitled to under the prior loan terms. The full text of the Twelfth Amendment, which attaches the Amended Loan Agreement, is filed as Exhibit 10.1.

Insights

Credit and capital structure analyst

WhiteHorse trims credit commitments to $50M; lenders waive 1% fee.

The amendment cuts Financing Commitments under WhiteHorse Finance Credit I, LLC’s Amended Loan Agreement from $100,000,000 to $50,000,000. This directly reduces the borrowing capacity available under this specific credit arrangement with JPMorgan and related parties.

The lenders’ waiver of the 1% premium that would have applied under Section 4.03(c)(ii) avoids an immediate additional cost tied to this reduction. Overall effects on liquidity and funding flexibility depend on the company’s broader capital resources, which are not detailed in this excerpt.

8-K Event Classification

3 items: 1.01, 2.03, 9.01

3 items

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, or exhibit attachments filed with this report.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What change did WhiteHorse Finance (WHF) make to its loan commitments?

WhiteHorse Finance, through subsidiary WhiteHorse Finance Credit I, LLC, amended its loan agreement to reduce Financing Commitments from $100,000,000 to $50,000,000 as of March 10, 2026. This adjustment lowers the maximum borrowing capacity available under that specific credit facility.

Which counterparties are involved in WhiteHorse Finance’s Twelfth Amendment?

The Twelfth Amendment involves WhiteHorse Finance Credit I, LLC as borrower, JPMorgan Chase Bank as lender and administrative agent, Citibank, N.A. as collateral agent, WhiteHorse Finance, Inc. as portfolio manager, and Virtus Group LP as collateral administrator. These parties collectively govern the updated Amended Loan Agreement.

What premium did WhiteHorse Finance’s lenders agree to waive?

In connection with reducing commitments, the administrative agent and lenders agreed to waive a 1% premium they would otherwise receive under Section 4.03(c)(ii) of the Amended Loan Agreement. This waiver eliminates an additional cost that would have been triggered by the commitment reduction.

How is the Twelfth Amendment related to WhiteHorse Finance’s direct financial obligations?

The Twelfth Amendment modifies terms of the existing Amended Loan Agreement, and the company identifies this as related to a direct financial obligation under Item 2.03. The obligations arise from the revised Financing Commitments and associated loan terms documented in the amended agreement.

Where can investors review the full terms of WhiteHorse Finance’s Twelfth Amendment?

Investors can review the complete Twelfth Amendment, which attaches the Amended Loan Agreement, in Exhibit 10.1. This exhibit contains the detailed contractual changes, including the revised Financing Commitments and the lenders’ waiver of the 1% premium described in the summary.

What prior agreement does WhiteHorse Finance’s Twelfth Amendment modify?

The Twelfth Amendment modifies the Fifth Amended and Restated Loan Agreement dated April 28, 2021, as previously amended multiple times. Together, these documents are referred to as the Amended Loan Agreement and now reflect the reduced $50,000,000 Financing Commitments and premium waiver.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 03/13/2026 - 04:19 PM Learn about SEC filing dates

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

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FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

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Date of Report (Date of Earliest Event Reported): March 10, 2026

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WhiteHorse Finance, Inc.

(Exact Name of Registrant as Specified in Its Charter)

814-00967

(Commission File Number)

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Delaware		45-4247759
(State or Other Jurisdiction of Incorporation)		(I.R.S. Employer Identification No.)

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1450 Brickell Avenue, 31st Floor,

Miami, FL 33131

(Address of principal executive offices) (Zip code)

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(305) 381-6999

(Registrant’s telephone number, including area code)

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Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

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☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

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☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

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☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

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☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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

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Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $0.001 per share	WHF	The Nasdaq Stock Market LLC (Nasdaq Global Select Market)
7.875% Notes due 2028	WHFCL	The Nasdaq Stock Market LLC (Nasdaq Global Select Market)

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.

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Emerging growth company  ☐

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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.  ☐

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Item 1.01. Entry into a Material Definitive Agreement.

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On March 10, 2026, WhiteHorse Finance Credit I, LLC (“WhiteHorse Credit”), a wholly owned subsidiary of WhiteHorse Finance, Inc. (the “Company”), entered into a Twelfth Amendment 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 (the “Twelfth Amendment”) to amend the terms of 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, January 17, 2025 and June 27, 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 (Virtus Group LP, together with JPMorgan and Citibank, N.A., the “Parties”) (as amended, the “Amended Loan Agreement”). The Twelfth Amendment, among other things, reduces the Financing Commitments agreed by WhiteHorse Credit and the lenders from $100,000,000 to $50,000,000 on March 10, 2026. Capitalized terms used herein without definition have the meanings assigned to them in the Amended Loan Agreement, as amended by the Twelfth Amendment. Capitalized terms used herein without definition have the meanings assigned to them in the Amended Loan Agreement, as amended by the Twelfth Amendment.

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In connection with the Twelfth Amendment, the Administrative Agent and the Lenders hereby agree to waive the 1.00% premium to which they would otherwise be entitled pursuant to Section 4.03(c)(ii) of the Amended Loan Agreement.

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The description above is only a summary of the modifications pursuant to the Twelfth Amendment and is qualified in its entirety by reference to a copy of the Twelfth 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.

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

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The information in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.

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Forward-Looking Statements

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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.

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Item 9.01. Financial Statements and Exhibits.

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(d) Exhibits:

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10.1	Twelfth Amendment to Fifth Amended and Restated Loan Agreement, dated March 10, 2026, 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)

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SIGNATURES

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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.

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Dated: March 13, 2026	WHITEHORSE FINANCE, INC.
	/s/ Joyson C. Thomas
	By:	Joyson C. Thomas
	Title:	Chief Financial Officer

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Filing Exhibits & Attachments

5 documents

Agreements & Contracts

• EX-10.1 EX-10.1 23.4 KB

Other Documents

• EX-101 EX-101.SCH 3.7 KB
• EX-101 EX-101.DEF 13.9 KB
• EX-101 EX-101.LAB 19.9 KB
• EX-101 EX-101.PRE 15.1 KB