ORTHOPEDIATRICS CORP 8-K

What Happened
OrthoPediatrics Corp (KIDS) filed an 8-K on April 1, 2026 reporting a First Amendment (dated March 31, 2026) to its August 5, 2024 Term Loan Agreement. The Amendment creates a new delayed-draw term loan facility up to $20.0 million (minimum $10.0 million increments) that may be drawn, subject to conditions, through June 30, 2027. The facility carries interest at SOFR (floor 3.25%) plus 6.50%, an option for a payment-in-kind interest election (1.00% per annum), is interest-only until the maturity date of August 5, 2029, and preserves certain financial covenants. Wilmington Trust, N.A. remains agent and funds managed by Braidwell LP are among the lenders.

Key Details

• New delayed-draw term loan facility: aggregate principal up to $20.0 million; draws in minimum $10.0M increments.
• Draw period ends: June 30, 2027; maturity date: August 5, 2029.
• Interest: SOFR (floor 3.25%) + 6.50%; Company may elect a PIK interest option (1.00% p.a.).
• Fees: 1.00% upfront fee, 0.05% per annum delayed-draw ticking fee, plus exit/prepayment fees consistent with the existing Term Loan Agreement.
• Exhibit: The First Amendment is filed as Exhibit 10.1 to the Form 8-K.

Why It Matters
This Amendment gives OrthoPediatrics an additional committed source of financing that the company can draw only as needed, which supports liquidity management without immediate dilution or cash payments. The facility is relatively expensive (SOFR floor + 6.50% and fees), so drawing on it would increase interest expense and leverage; the company is not required to borrow under the new facility. For investors, the filing signals access to incremental capital if needed while preserving near-term cash flow through interest-only terms and optional PIK treatment.