HealthStream, Inc. and Suntrust Bank Enters into Certain Second Amendment to Revolving Credit Agreement, Amending the Revolving Credit Agreement
January 03, 2019 at 03:41 am IST
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On December 31, 2018, HealthStream, Inc. and SunTrust Bank entered into that certain Second Amendment to Revolving Credit Agreement, amending the Revolving Credit Agreement, dated as of November 24, 2014, as amended, by and among the Company, the several banks and other financial institutions and lenders from time to time party thereto and SunTrust, as administrative agent, issuing bank and swingline lender. The Amendment extended the maturity date of the Revolving Credit Facility to November 24, 2020. In addition, the Amendment included certain other revisions to the Revolving Credit Facility, including to (i) revise the definition of “Permitted Acquisition” to remove the requirement (applicable in connection with certain acquisitions) to deliver acquisition agreements to the administrative agent so long as the Additional Acquisition Conditions have been satisfied, and (ii) to exclude the Company’s special dividend paid shareholders on April 3, 2018 from the restricted payments calculation set out in the Revolving Credit Agreement.
HealthStream, Inc. provides platform-delivered workforce solutions. Its solutions include Software-as-a-Service (SaaS), subscription-based applications used by healthcare organizations to meet a range of their workforce development needs around learning, clinical development, credentialing, and scheduling. Its content libraries allow customers to subscribe to an array of courseware, which includes content from healthcare and nursing associations, medical and healthcare publishers, and other content providers. Its scheduling solutions provide customers with real-time visibility into clinical staff scheduling. Its credentialing, privileging, and enrollment solution, CredentialStream, provides customers a user experience with a continual stream of enhancements, evidence-based content, and curated data, which provides healthcare organizations with tools to support the provider lifecycle management from recruiting, application submission, verification of licensure, and other credentials.