EverCommerce refinanced $529.4 million in loans, extending maturity and reducing interest rates, enhancing capital structure efficiency.
Quiver AI Summary
EverCommerce Inc. announced the successful repricing and extension of its existing Term Loan B and Revolving Credit Facilities. The Company refinanced its $529.4 million term loan with a new class of Term B-2 Loans, extending the maturity to July 6, 2031, and reducing the interest rate by 25 basis points to SOFR plus 2.25%. Additionally, the maturity of $125 million in revolver commitments was extended to July 29, 2030, with a similar interest reduction to SOFR plus 2.00%. This restructuring is part of EverCommerce's efforts to optimize its capital structure, resulting in an expected annual cash interest expense reduction of approximately $1.3 million.
Potential Positives
- The successful refinancing of the $529.4 million term loan facility extends its maturity by three years, providing greater financial stability.
- The reduction in the interest rate by 25 basis points for both the term loan and revolving credit facility decreases overall borrowing costs.
- The expected annual cash interest expense is lowered by approximately $1.3 million, enhancing the company’s cash efficiency.
- The extended maturities and improved terms of the credit facilities support EverCommerce's ongoing transformation and operational improvements, indicating a proactive approach to financial management.
Potential Negatives
- Refinancing existing loans may indicate a reliance on debt, which can raise concerns about the company's financial stability and leverage.
- The mention of needing to potentially incur additional indebtedness or seek capital could suggest underlying financial pressures or difficulties in sustaining growth without further borrowing.
- The reliance on forward-looking statements introduces uncertainty regarding future performance, making it difficult for investors to assess the actual health of the company.
FAQ
What is EverCommerce's recent financial update?
EverCommerce announced the successful repricing and extension of its Term Loan B and Revolving Credit Facilities, enhancing its capital structure.
How much did EverCommerce refinance for the Term Loan B?
The Company refinanced its existing Term Loan B, totaling $529.4 million, extending the maturity by three years.
What interest rate reduction did EverCommerce achieve?
EverCommerce reduced its interest rates by 25 basis points to SOFR plus 2.25% for the term loan and SOFR plus 2.00% for the revolver.
Why is this financing significant for EverCommerce?
This financing reduces anticipated annual cash interest expenses by approximately $1.3 million, enhancing cash efficiency and flexibility.
Where can I find more details about the Amended Credit Agreement?
Additional details are available in EverCommerce’s Current Report on Form 8-K filed with the SEC on the same date.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$EVCM Insider Trading Activity
$EVCM insiders have traded $EVCM stock on the open market 66 times in the past 6 months. Of those trades, 0 have been purchases and 66 have been sales.
Here’s a breakdown of recent trading of $EVCM stock by insiders over the last 6 months:
- ERIC RICHARD REMER (Chief Executive Officer) has made 0 purchases and 51 sales selling 524,406 shares for an estimated $5,341,274.
- MATTHEW DAVID FEIERSTEIN (President) has made 0 purchases and 13 sales selling 150,000 shares for an estimated $1,519,245.
- LISA E STOREY (Chief Legal Officer) has made 0 purchases and 2 sales selling 12,515 shares for an estimated $140,963.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$EVCM Hedge Fund Activity
We have seen 36 institutional investors add shares of $EVCM stock to their portfolio, and 43 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- KINGSTONE CAPITAL PARTNERS TEXAS, LLC added 503,400 shares (+inf%) to their portfolio in Q2 2025, for an estimated $5,285,700
- JANUS HENDERSON GROUP PLC removed 159,416 shares (-37.2%) from their portfolio in Q1 2025, for an estimated $1,606,913
- MILLENNIUM MANAGEMENT LLC added 88,831 shares (+770.6%) to their portfolio in Q1 2025, for an estimated $895,416
- DIMENSIONAL FUND ADVISORS LP removed 87,068 shares (-29.3%) from their portfolio in Q1 2025, for an estimated $877,645
- UBS GROUP AG removed 53,069 shares (-69.6%) from their portfolio in Q1 2025, for an estimated $534,935
- EDGESTREAM PARTNERS, L.P. removed 51,754 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $521,680
- JPMORGAN CHASE & CO removed 51,432 shares (-33.8%) from their portfolio in Q1 2025, for an estimated $518,434
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$EVCM Analyst Ratings
Wall Street analysts have issued reports on $EVCM in the last several months. We have seen 4 firms issue buy ratings on the stock, and 1 firms issue sell ratings.
Here are some recent analyst ratings:
- Canaccord Genuity issued a "Buy" rating on 05/12/2025
- Goldman Sachs issued a "Sell" rating on 03/14/2025
- RBC Capital issued a "Outperform" rating on 03/14/2025
- Citizens Capital Markets issued a "Market Outperform" rating on 03/14/2025
- Oppenheimer issued a "Outperform" rating on 03/14/2025
To track analyst ratings and price targets for $EVCM, check out Quiver Quantitative's $EVCM forecast page.
$EVCM Price Targets
Multiple analysts have issued price targets for $EVCM recently. We have seen 8 analysts offer price targets for $EVCM in the last 6 months, with a median target of $11.0.
Here are some recent targets:
- Ryan Macwilliams from Barclays set a target price of $11.0 on 05/12/2025
- David Hynes from Canaccord Genuity set a target price of $14.0 on 05/12/2025
- Clarke Jeffries from Piper Sandler set a target price of $9.0 on 03/17/2025
- Gabriela Borges from Goldman Sachs set a target price of $8.0 on 03/14/2025
- Samad Samana from Jefferies set a target price of $10.0 on 03/14/2025
- Matthew Hedberg from RBC Capital set a target price of $11.0 on 03/14/2025
- Aaron Kimson from Citizens Capital Markets set a target price of $15.0 on 03/14/2025
Full Release
DENVER, July 30, 2025 (GLOBE NEWSWIRE) -- EverCommerce Inc. ("EverCommerce" or the "Company") (NASDAQ: EVCM), a leading provider of SaaS solutions for service SMBs, announced today that it successfully repriced and extended the maturities of both the existing Term Loan B and Revolving Credit Facilities. The Company’s $529.4 million term loan facility was refinanced in its entirety with a new class of Term B-2 Loans extending the maturity for 3 additional years, through July 6, 2031. The repricing reduced the interest rate by 25 basis points to SOFR plus 2.25% and was priced at par. Additionally, with respect to $125 million of commitments under the Company’s existing revolver, the maturity date was extended to July 29, 2030, and the interest was reduced by 25 basis points to SOFR plus 2.00%.
“In tandem with continued product and operational improvements related to our transformation and optimization program, we continue to optimize our capital structure to increase cash efficiency and flexibility,” said Ryan Siurek, EverCommerce’s Chief Financial Officer. “Today we were able to both reduce our expected annual cash interest expense by approximately $1.3 million and extend the term of our credit facility.”
Additional details regarding the Amended Credit Agreement are available in the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission today.
Investor Contact:
Brad Korch
SVP and Head of Investor Relations
720-796-7664
[email protected]
Press Contact:
Jeanne Trogan
VP of Corporate Communications
512-705-1293
[email protected]
About EverCommerce
EverCommerce (Nasdaq: EVCM) is a leading service commerce platform, providing vertically-tailored, integrated SaaS solutions that help more than 725,000 global service-based businesses accelerate growth, streamline operations, and increase retention. Its modern digital and mobile applications create predictable, informed, and convenient experiences between customers and their service professionals. With its EverPro, EverHealth, and EverWell brands specializing in Home, Health, and Wellness service industries, EverCommerce provides end-to-end business management software, embedded payment acceptance, marketing technology, and customer experience applications. Learn more at
EverCommerce.com
.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation, statements regarding anticipated annual interest cost savings and optimizing our capital structure to increase cash efficiency and flexibility. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, we may need to incur additional indebtedness or seek capital through new equity or debt financings in order to support the growth of our business as well as the other factors described in our Annual Report on Form 10-K for the year ended December 31, 2024 and updated by our other filings with the SEC. These factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management’s estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.
