UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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| Item 1.01. | Entry Into a Material Definitive Agreement. |
On May 26, 2021, Accolade, Inc. (the “Company”) entered into a Sixth Amendment to Credit Agreement (the “Sixth Amendment”) to its existing Credit Agreement, dated as of July 19, 2019 (as amended on August 21, 2020, September 11, 2020, November 6, 2020, March 2, 2021, and March 23, 2021, the “Credit Agreement”), with (a) Comerica Bank in its capacity as administrative agent and lender, and (b) Western Alliance Bank as a lender. Pursuant to the Sixth Amendment, the parties agreed to, among other things, (i) amend the definition of Eligible Monthly Recurring Revenue (as defined in the Credit Agreement), (ii) approve the PlushCare Acquisition (as defined in the Credit Agreement) and (iii) modify the reporting covenants.
The foregoing description of the material terms of the Sixth Amendment does not purport to be complete and is subject to, and qualified in its entirety by, reference to the Sixth Amendment that is filed as an exhibit to this Current Report on Form 8-K, and is incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
| Exhibit | ||||
| Number | Exhibit Description | |||
| 10.1+ | Sixth Amendment to Credit Agreement, dated May 26, 2021, by and among the Company, Comerica Bank and Western Alliance Bank | |||
| 104 | The cover page of this Current Report on Form 8-K, formatted in inline XBRL | |||
+ Portions of this exhibit have been omitted in accordance with Item 601(b)(10) of Regulation S-K.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Accolade, Inc. | ||
| Dated: June 1, 2021 | ||
| By: | /s/Stephen Barnes | |
| Stephen Barnes | ||
| Chief Financial Officer | ||