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SURGERY PARTNERS, INC.

(SGRY)
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SURGERY PARTNERS, INC. : Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant, Financial Statements and Exhibits (form 8-K)

11/22/2021 | 04:33pm EST

Item 1.01 Entry into a Material Definitive Agreement.

Seventh Amendment to Credit Agreement

On November 19, 2021, SP Holdco I, Inc., a Delaware corporation ("Holdings"), and Surgery Center Holdings, Inc., a Delaware corporation (the "Borrower"), each a wholly-owned subsidiary of Surgery Partners, Inc. (the "Company"), together with certain wholly-owned subsidiaries of the Borrower, entered into an amendment to the credit agreement governing their revolving credit facility (the "Revolver"), dated as of November 19, 2021 (the "Amendment"), with Jefferies Finance LLC, as administrative agent and collateral agent, and the other financial institutions party thereto from time to time, which amended and supplemented the credit agreement, dated as of August 31, 2017, and amended on October 23, 2018, March 25, 2019, April 16, 2020, April 22, 2020, January 27, 2021 and May 3, 2021 by and among the Borrower, Holdings, certain wholly-owned subsidiaries of the Borrower party thereto from time to time, Jefferies Finance LLC, as administrative agent and collateral agent, and the other financial institutions party thereto from time to time (the "Credit Agreement") to provide for an increase in the outstanding commitments under the Revolver in an amount equal to $40.0 million. These additional commitments will automatically become operative upon satisfaction by the Borrower of certain conditions precedent set forth in the Amendment.

The foregoing description of the Amendment is qualified in its entirety by the text of the Amendment, which is filed as exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.


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



The information set forth, or incorporated by reference, in Item 1.01 above with respect to the Amendment is hereby incorporated by reference into this Item 2.03, insofar as it relates to the information required to be disclosed under this Item 2.03.

Item 9.01 Financial Statements and Exhibits.





(d) Exhibits.



Exhibit
No.        Description
  10.1       Seventh Amendment to the Credit Agreement, dated as of November 19,
           2021, by and among SP Holdco I, Inc., Surgery Center Holdings, Inc., the
           other Guarantors party thereto, Jefferies Finance LLC and the other
           lenders party thereto.

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

© Edgar Online, source Glimpses

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Financials (USD)
Sales 2021 2 236 M - -
Net income 2021 -56,0 M - -
Net Debt 2021 2 541 M - -
P/E ratio 2021 -56,0x
Yield 2021 -
Capitalization 3 867 M 3 867 M -
EV / Sales 2021 2,87x
EV / Sales 2022 2,63x
Nbr of Employees 9 950
Free-Float 38,7%
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Number of Analysts 10
Last Close Price 44,00 $
Average target price 62,90 $
Spread / Average Target 43,0%
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Managers and Directors
J. Eric Evans Chief Executive Officer & Director
Thomas F. Cowhey CFO, Principal Accounting Officer & Executive VP
Wayne S. DeVeydt Executive Chairman
Varun Gadhok Chief Information Officer & Senior Vice President
Roxanne Womack Chief Compliance Officer & Senior Vice President