Short answer
UNIVERSAL TECHNICAL INSTITUTE INC (UTI) filed an 8-K current report with the SEC on August 18, 2026 reporting Item 1.01 (Entry into a Material Definitive Agreement), Item 2.03 (Creation of a Direct Financial Obligation), Item 7.01 (Regulation FD Disclosure), Item EX-99.1 (Exhibit EX-99.1). $200 million senior secured revolving facility replacing existing credit agreement.
UNIVERSAL TECHNICAL INSTITUTE INC 8-K event analysis
AI summary of each reported item and its exhibits
Item 1.01 · Entry into a Material Definitive Agreement
- $200 million senior secured revolving facility replacing existing credit agreement
- August 2031 maturity, with $75 million uncommitted incremental borrowing capacity
- Floating-rate pricing: Term SOFR plus 1.50%-2.25%; Base Rate plus 0.50%-1.25%
- $15 million swingline and $75 million letter-of-credit sublimits
- Financial covenants include total net leverage and interest coverage ratios; loan parties pledge assets and provide guarantees
Item 7.01 · Regulation FD Disclosure
- Press release announces UTI’s entry into a Credit Agreement
- Credit Agreement details available in Exhibit 99.1
- Financing announcement may affect liquidity, leverage, and future capital flexibility
Item EX-99.1 · Exhibit EX-99.1
- New senior secured revolving facility increases borrowing capacity to $200 million from $125 million
- Swingline sublimit rises to $15 million and letters-of-credit capacity to $75 million
- Five-year maturity extends through August 2031, refinancing the existing Fifth Third facility
- Up to $75 million of uncommitted incremental facilities supports potential expansion
- Liquidity intended for working capital, acquisitions and North Star Strategy initiatives
Other items in this filing:
- Item 2.03: Creation of a Direct Financial Obligation
Generated from the filing text and exhibits; verify against the original. What 8-K item codes mean
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