Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     

ALLSCRIPTS HEALTHCARE SOLUTIONS, INC.

(MDRX)
  Report
Delayed Nasdaq  -  04:00 2022-12-02 pm EST
19.06 USD   +0.85%
11/30Sphere's TrustCommerce« Healthcare Payments Platform Now Integrated with Veradigm« Practice Management
PR
11/22Veradigm Digital Health Media Becomes the First EHR Marketing Solution to Join the Point of Care Marketing Association
BU
11/18JPMorgan Adjusts Price Target on Allscripts Healthcare Solutions to $20 From $19, Maintains Underweight Rating
MT
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisionsFunds 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

ALLSCRIPTS HEALTHCARE SOLUTIONS, INC. : Entry into a Material Definitive Agreement, Termination of a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant, Regulation FD Disclosure, Financial Statements and Exhibits (form 8-K)

05/02/2022 | 04:14pm EST

Item 1.01 Entry into a Material Definitive Agreement.

On April 29, 2022, Allscripts Healthcare Solutions, Inc., ("Allscripts") and Allscripts Healthcare, LLC (the "Company", and together with Allscripts, each a "Borrower" and collectively, the "Borrowers") entered into a Third Amended and Restated Credit Agreement (the "Third Amended Credit Agreement"), with JPMorgan Chase Bank, N.A., as administrative agent (the "Administrative Agent"), the several banks and other financial institutions or entities from time to time party thereto as lenders and issuing banks, JPMorgan Chase Bank, N.A., Fifth Third Bank, National Association, Keybanc Capital Markets Inc., Truist Securities, Inc. and Wells Fargo Securities, LLC, as joint bookrunners and joint lead arrangers, and U.S. Bank National Association, Bank of America, N.A., BMO Harris Bank N.A., Royal Bank of Canada and PNC Bank, National Association, as co-documentation agents, amending and restating the Second Amended and Restated Credit Agreement, dated February 15, 2018, as amended on August 7, 2019 and July 20, 2020 (the "Existing Credit Agreement"). The Third Amended Credit Agreement provides for a $700 million senior secured revolving facility (a decrease from the $900 million revolving facility provided for under the Existing Credit Agreement) (the "Revolving Facility") with a five year term. A total of up to $50 million of the Revolving Facility is available for the issuance of letters of credit (of which $10 million is available on a committed basis), up to $25 million of the Revolving Facility is available for swingline loans, and up to $100 million of the Revolving Facility is available to be borrowed under certain foreign currencies. Proceeds from the borrowings under the Third Amended Credit Agreement were used for the refinancing of loans under the Existing Credit Agreement. As of the closing date of the Third Amended Credit Agreement, approximately $175.0 million of principal in revolving loans and approximately $1.0 million of letters of credit are outstanding under the Revolving Facility.

The proceeds of the Revolving Facility are available to be used to finance Allscripts' and its subsidiaries working capital needs and for general corporate purposes, including, without limitation, financing of capital expenditures, permitted acquisitions and investments. The Borrowers are also permitted to add one or more incremental revolving and/or term loan facilities in an aggregate amount of up to $350 million, plus an unlimited amount so long as the pro forma senior secured net leverage ratio of Allscripts does not exceed 2.50 to 1.0, in each case subject to certain conditions.

Interest on the outstanding principal amount of the loans accrues at a per annum rate equal to the Alternate Base Rate, the Adjusted Term SOFR Rate, the Adjusted Daily Simple RFR (for borrowings in Pound Sterling, based on SONIA, and for borrowings in U.S. Dollars, based on Daily Simple SOFR) or the Adjusted EURIBOR Rate for borrowing in Euros, as applicable and each as defined in the Third Amended Credit Agreement, in each case, plus an applicable rate and applicable credit spread adjustment. The applicable rate ranges from 1.375% to 2.25% in the case of Term Benchmark loans or RFR loans, each as defined in the Third Amended Credit Agreement, and 0.375% to 1.25% in the case of the Alternate Base Rate loans, in each case, based on the total net leverage ratio of Allscripts with an adjustment ranging from 4.00 to 1.00 (or greater) to 1.75 to 1.00 (or less). Interest on the loans is payable (i) quarterly in arrears in the case of Alternate Base Rate loans, (ii) on the last day of the relevant interest period in the case of Term Benchmark loan, and (iii) and monthly in arrears in the case of RFR loans. In addition, the Borrowers are obligated to pay a quarterly commitment fee based on the unused portion of the Revolving Facility at the applicable rate ranging from 0.175% to 0.35% based on the total net leverage ratio of Allscripts, quarterly participation fees with respect to outstanding letters of credit based on the maximum amount available to be drawn under each outstanding letter of credit at the applicable rate same as the applicable rate to Term Benchmark loan then in effect, and quarterly fronting fees to each issuing bank with respect to each letter of credit issued by such issuing bank based on the maximum amount available to be drawn under each such outstanding letter of credit at 0.125%.

Subject to certain agreed upon exceptions, all obligations under the Revolving Facility are guaranteed by each of Allscripts' existing and future direct and indirect material domestic subsidiaries of Allscripts, other than Coniston Exchange LLC, and other Excluded Subsidiaries (as defined in the Third Amended Credit Agreement) (the "Guarantors") pursuant to the Amended and Restated Guarantee and Collateral Agreement, dated as of April 29, 2022 (the "Guarantee and Collateral Agreement") among Allscripts, the Company, the Guarantors, and the Administrative Agent, which amends and restates that certain Guarantee and Collateral Agreement, dated as of June 28, 2013.

The obligations of the Borrowers and each Guarantor under the Revolving Facility, any swap agreements and any cash management arrangements provided by any lender or any affiliate thereof, remain secured, subject to permitted liens and other agreed upon exceptions, by a perfected first priority security interest in all of the tangible and intangible assets (including, without limitation, intellectual property and all of the capital stock of each Guarantor and, in the case of foreign subsidiaries, up to Applicable Pledge Percentage (as defined in the Third Amended Credit Agreement) of the equity interest of first tier material foreign subsidiaries) of Allscripts and the Guarantors, other than . . .

Item 1.02 Termination of a Material Definitive Agreement.

The Third Amended Credit Agreement replaced and superseded the Existing Credit Agreement, as set forth in Item 1.01 of this Current Report on Form 8-K, which is incorporated by reference into this Item 1.02.

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

The information related to the Third Amended Credit Agreement set forth in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.

Item 7.01 Regulation FD Disclosure.

On May 2, 2022, the Company issued a press release announcing the completion of the sale of the net assets of its Hospitals & Large Physician Practices business segment to N. Harris Computer Corporation, a wholly-owned subsidiary of Constellation Software Inc. A copy of the Company's press release is furnished as Exhibit 99.1 and is incorporated herein by reference.

The information furnished pursuant to this Item shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or incorporated by reference in any filing under the Securities Act of 1933, as amended (the "Securities Act"), or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

The following exhibits are furnished herewith:

Exhibit Number                           Exhibit Description

10.1                 Third Amended and Restated Credit Agreement, dated as of
                   April 29, 2022, among Allscripts Healthcare Solutions, Inc.,
                   Allscripts Healthcare, LLC, the lenders party thereto and
                   JPMorgan Chase Bank, N.A., as administrative agent

99.1                 Press release issued by Allscripts Healthcare Solutions, Inc.
                   on May 2, 2022

104                Cover Page Interactive Data File (embedded within the Inline
                   XBRL document)



--------------------------------------------------------------------------------

© Edgar Online, source Glimpses

All news about ALLSCRIPTS HEALTHCARE SOLUTIONS, INC.
11/30Sphere's TrustCommerce« Healthcare Payments Platform Now Integrated with Veradigm« Prac..
PR
11/22Veradigm Digital Health Media Becomes the First EHR Marketing Solution to Join the Poin..
BU
11/18JPMorgan Adjusts Price Target on Allscripts Healthcare Solutions to $20 From $19, Maint..
MT
11/14Insider Sell: Allscripts Healthcare Solutions
MT
11/10Allscripts - Veradigm EHR Achieves 2015 ONC Health IT Update Certification
AQ
11/09Goldman Sachs Upgrades Allscripts Healthcare Solutions to Buy From Neutral, Adjusts Pri..
MT
11/09Veradigm EHR Achieves 2015 ONC Health IT Update Certification
BU
11/07ALLSCRIPTS HEALTHCARE SOLUTIONS, INC. Management's Discussion and Analysis of Financia..
AQ
11/07Tranche Update on Allscripts Healthcare Solutions, Inc.'s Equity Buyback Plan announced..
CI
11/07Deutsche Bank Adjusts Allscripts Healthcare Solutions Price Target to $21 From $20, Mai..
MT
More news
Analyst Recommendations on ALLSCRIPTS HEALTHCARE SOLUTIONS, INC.
More recommendations