TRUPANION, INC. (NASDAQ:TRUP) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry Into a Material Definitive Agreement.
TRUPANION, INC. (NASDAQ:TRUP) Files An 8-K Entry into a Material Definitive Agreement
On March 31, 2017, Trupanion, Inc. (the “Company”) and its subsidiary Trupanion Managers USA, Inc., entered into a First Amendment to the Loan and Security Agreement (the “Loan Amendment”) with Pacific Western Bank, a California state chartered bank (the “PWB”), and Western Alliance Bank, an Arizona corporation (“WAB”, and together with PWB, the “Lenders”), which amends that certain Loan and Security Agreement, dated as of December 16, 2016, by and between the Company and the Lenders (the “Original Loan Agreement”). to the terms of the Original Loan Agreement, Lenders agreed to provide the Company with an aggregate credit facility of $30M.
The Loan Amendment amends the Original Loan Agreement to, among other things, (i) increase the sublimit for Ancillary Services and Letters of Credit under the Revolving Line from $3,000,000 to $4,500,000, and (ii) extend the Revolving Maturity Date of the loans under the Original Loan Agreement from December 16, 2018 to December 16, 2019, in all cases as such capitalized terms are defined in the Original Loan Agreement.
The foregoing description of certain terms contained in the Loan Amendment is not complete, and is qualified in its entirety by reference to: (i) the terms and conditions of the actual Loan Amendment, which will be filed as an exhibit to the Company’s Quarterly Report on Form 10-Q for the period ending March 31, 2017, and (ii) the copy of the Original Loan Agreement, filed as Exhibit 10.15 to the Company’s Annual Report on Form 10-K for the year ended December 31, 2016 with the Securities and Exchange Commission on February 15, 2017.
About TRUPANION, INC. (NASDAQ:TRUP)
Trupanion, Inc. provides a medical insurance plan for cats and dogs across the United States, Canada and Puerto Rico. The Company operates through two segments: subscription business and other business. The subscription business segment includes monthly subscriptions related to the Company’s medical plan, which are marketed directly to consumers. The other business segment includes all other businesses that are not directly marketed to consumers. The Company’s medical plan pays approximately 90% of actual veterinary costs for accident and illness claims, has no payout limitations, and can be used to cover the costs incurred at any veterinary practice, emergency care center or specialty hospital in the United States, Canada and Puerto Rico. The Company’s software solution, Trupanion Express, integrates with veterinarians’ practice management software. Trupanion Express facilitates the Company’s ability to pay veterinarians’ invoices directly to the veterinarian at the time of service. TRUPANION, INC. (NASDAQ:TRUP) Recent Trading Information
TRUPANION, INC. (NASDAQ:TRUP) closed its last trading session up +0.09 at 14.48 with 196,577 shares trading hands.
Trupanion, Inc. provides a medical insurance plan for cats and dogs across the United States, Canada and Puerto Rico. The Company operates through two segments: subscription business and other business. The subscription business segment includes monthly subscriptions related to the Company’s medical plan, which are marketed directly to consumers. The other business segment includes all other businesses that are not directly marketed to consumers. The Company’s medical plan pays approximately 90% of actual veterinary costs for accident and illness claims, has no payout limitations, and can be used to cover the costs incurred at any veterinary practice, emergency care center or specialty hospital in the United States, Canada and Puerto Rico. The Company’s software solution, Trupanion Express, integrates with veterinarians’ practice management software. Trupanion Express facilitates the Company’s ability to pay veterinarians’ invoices directly to the veterinarian at the time of service. TRUPANION, INC. (NASDAQ:TRUP) Recent Trading Information
TRUPANION, INC. (NASDAQ:TRUP) closed its last trading session up +0.09 at 14.48 with 196,577 shares trading hands.