Teamshares repays legacy credit facility

Teamshares repaid a $150 million legacy credit facility in full with a new $130 million term loan and cash on hand.

New term loan terms

Term loan matures in fourth quarter 2030 with 9.5% floating-rate spread above sofr.

Interest reduction

Annual interest expense expected to decrease by $5 million at current sofr levels.

Early mezzanine repayment

Initiated early repayment of $17 million mezzanine debt to reduce annual interest by $3 million.

CEO statement

CEO Michael Brown says going public has been a major catalyst for Teamshares.

“Going public has been a major catalyst for Teamshares: In the past 16 weeks, Teamshares has listed on the Nasdaq, signed LOIs towards our $40 million EBITDA acquisition plan for 2026, arranged funded acquisition financing with a recent preferred instrument, and removed a material short-term maturity.”

CFO statement

CFO Brian Gaebe prioritizes speed and certainty for acquisition financing.

“We prioritized speed and certainty of execution to address a near-term maturity while maintaining our ability to fund acquisitions with debt financing that is expected to result in an attractive blended cost of capital.”

Financing strategy

Teamshares uses multi-stage financing to improve capital access and cost for acquisitions.

“The transaction is another step forward in the Company’s multi-stage financing strategy to improve capital access and cost in the public markets, enabling Teamshares to acquire great businesses from retiring owners at scale.”