2026-04-01 12:05:16
Rimini Street, Inc. Amends Credit Agreement to Increase Restricted Payments
Expected Stock impact: Slightly Positive
On April 1, 2026, Rimini Street, Inc. filed an 8-K report detailing an amendment to its existing credit agreement with Capital One, National Association. The amendment, effective as of March 27, 2026, modifies the terms regarding 'Restricted Payments' under Section 6.8(b)(ii) of the credit agreement. The changes allow for an increase in the aggregate amount of permitted Restricted Payments to $20 million per fiscal year starting from the fiscal year ending December 31, 2026. Additionally, for Restricted Payments made on or after January 1, 2026, the total allowed will be capped at $50 million. Previously, the limits were set at the greater of $12.5 million or 20% of the company's last twelve months consolidated EBITDA until the fiscal year ending December 31, 2025. This amendment is expected to provide Rimini Street with greater flexibility in managing its capital and could positively influence its stock price as it allows for more aggressive capital management strategies. The company continues to meet its obligations under the credit agreement, and no defaults have been reported. The full text of the amendment is available as Exhibit 10.1 in the filing.
