Instructure Holdings, Inc. Enters into Second Amendment to the Credit Agreement
February 02, 2024 at 02:48 am IST
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Instructure Holdings, Inc. entered into the Second Amendment to the Credit Agreement, which amends that certain Credit Agreement, dated as of October 29, 2021, by and among the Company and certain of its subsidiaries, JPMorgan Chase Bank, N.A., as administrative agent, and the lenders named therein. Pursuant to the Second Amendment, among certain other amendments, the lenders named in the Second Amendment agreed, severally and not jointly, to extend additional 2023 Incremental Term Loans to the Company under the Credit Agreement in an aggregate principal amount equal to $685,000,000. The Company used the proceeds of the 2023 Incremental Term Loans, borrowed under the Credit Agreement, to finance (i) the cash consideration for the acquisition of PCS Holdings, LLC, a Delaware limited liability company, and (ii) fees and costs incurred in connection with the acquisition and related transactions.
Instructure Holdings, Inc. is an education technology company. The Company personalizes, simplifies, organizes, and automates the entire learning lifecycle through technology. Its learning platform comprises solutions, including Canvas LMS, Canvas Studio, Canvas Catalog, Canvas Network, Canvas Credentials, Canvas Student Pathways, Mastery Assessment, Impact, Elevate Data Sync, Elevate K-12 Analytics, Elevate Data Quality, Elevate Standards Alignment, and LearnPlatform. Canvas LMS is designed to give education customers of all sizes and at every level an extensive set of flexible tools to support and enhance content creation, management, and delivery of face-to-face, blended and online instruction. Canvas Studio is an online video platform that integrates with Canvas LMS, which enables customers to host, manage, edit, and deliver video learning experiences. Canvas Catalog is a course catalog and registration system. The Companyâs learning platform supports educators and learners.