Business Context and Reporting Period
This Form 8-K Current Report was filed by Palantir Technologies Inc. on April 1, 2022, covering events occurring on March 31, 2022. The filing details the entry into a material definitive agreement regarding the company's credit facilities.
Key Financial Metrics
The filing does not provide revenue, profit, cash flow, margin, or liquidity metrics. It focuses exclusively on debt facility terms.
- Total Revolving Commitments: Increased to $500.0 million.
- Incremental Increase: $100.0 million added from existing and new lenders.
- Outstanding Debt: $0 as of the filing date.
- Administrative Agent: Morgan Stanley Senior Funding, Inc.
Material Changes
On March 31, 2022, the Company and its subsidiary Palantir USG, Inc. executed Amendment No. 12 to their Revolving Credit Agreement. Key changes include:
- Extension of the revolving loan facility maturity date.
- Amendment and restatement of the Credit Agreement, Security Agreement, and Guaranty Agreement in their entirety.
- Establishment of an incremental loan facility for additional term or revolving loans, subject to mutual agreement with lenders.
- Modifications to representations, warranties, and covenants.
Outlook and Risks
The filing does not contain forward-looking guidance, management commentary on operations, or specific risk factors beyond the standard incorporation of the full agreement text. The primary contingency noted is the requirement for mutual agreement between the Company and lenders to utilize the incremental loan facility.
Investor Verification Checklist
- Verify the specific new maturity date for the revolving facility in the full text of Exhibit 10.1.
- Review the modified covenants and representations in the amended Credit Agreement.
- Confirm the identity of the new lenders contributing to the $100.0 million increase.
- Check subsequent filings for any drawdowns on the $500.0 million facility.