ITEM 8.01. Other Events.
As previously disclosed on a Current Report on Form 8-K filed with the
Securities and Exchange Commission (the "SEC") on July 24, 2018, Mimecast
Limited, a public limited company organized under the Laws of the Bailiwick of
Jersey ("Mimecast" or the "Company"), entered into a Credit Agreement (the "JPM
Credit Agreement"), dated as of July 23, 2018, by and among Mimecast, certain of
the Company's subsidiaries party thereto, as guarantors, certain financial
institutions party thereto from time to time, as lenders, and JPMorgan Chase
Bank, N.A., as administrative agent. The JPM Credit Agreement provides the
Company with a $100,000,000 senior secured term loan (the "Term Loan"), and a
$50,000,000 senior secured revolving credit facility (the "Revolving Facility").
The JPM Credit Agreement was amended on June 12, 2020 to permit Mimecast to
issue letters of credit in certain additional foreign currencies beyond the U.S.
dollar and the British pound (as amended, the "Amended JPM Credit Agreement").
Mimecast may voluntarily prepay any borrowing under the Amended JPM Credit
Agreement, in whole or in part, at any time, subject to certain requirements. On
May 6, 2022 the Company voluntarily prepaid the entire outstanding amount under
the Term Loan, in the amount of $77,500,000, plus accrued interest.
The Amended JPM Credit Agreement, including the Revolving Facility provided
thereby, and its related agreements will remain in effect until terminated in
accordance with their terms. There are currently no amounts outstanding under
the Revolving Facility.
The foregoing summary of the Amended JPM Credit Agreement does not purport to be
complete and is qualified in its entirety by reference to the Amended JPM Credit
Agreement and its related agreements, which were filed as Exhibits 10.12, 10.13.
10.14, 10.15, 10.16, 10.17, 10.18, 10.19, 10.20 and 10.34 to the Company's
Quarterly Report on Form 10-Q for the quarter ended December 31, 2021 (filed
with the SEC on February 3, 2022), and are incorporated herein by reference.
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