Item 8.01. Other Events.
On April 29, 2022, BRP Insurance Intermediary Holdings, LLC, an indirect
subsidiary of BRP Group, Inc. ("BRP Group"), successfully closed its newest
Partnership, BRP Group's nomenclature for a strategic acquisition, with Westwood
Insurance Agency ("Westwood") by acquiring all of the outstanding equity
interests of Westwood.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under and
Off-Balance Sheet Arrangement of a Registrant.
On April 28, 2022, BRP Group borrowed an additional $380 million under the
revolving credit facility pursuant to the terms of that certain Credit
Agreement, dated as of October 14, 2020, as amended (the "Credit Agreement"),
between BRP Group's subsidiary, Baldwin Risk Partners, LLC, as borrower,
JPMorgan Chase Bank, N.A., as the Administrative Agent, the Guarantors party
thereto, the Lenders party thereto and the Issuing Lenders party thereto, for
general working capital purposes and to fund certain closing cash and
post-closing contingent consideration payments for the Westwood Partnership. As
of the date hereof, the amount outstanding under the Credit Agreement is $530
million and the remaining availability for borrowing is $70 million. The
revolving credit facility under the Credit Agreement matures in 2027.
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