UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| ITEM 8.01. | Other Events. |
As previously disclosed on a Current Report on Form 8-K filed with the Securities and Exchange Commission (the “SEC”) on July 24, 2018, Mimecast Limited, a public limited company organized under the Laws of the Bailiwick of Jersey (“Mimecast” or the “Company”), entered into a Credit Agreement (the “JPM Credit Agreement”), dated as of July 23, 2018, by and among Mimecast, certain of the Company’s subsidiaries party thereto, as guarantors, certain financial institutions party thereto from time to time, as lenders, and JPMorgan Chase Bank, N.A., as administrative agent. The JPM Credit Agreement provides the Company with a $100,000,000 senior secured term loan (the “Term Loan”), and a $50,000,000 senior secured revolving credit facility (the “Revolving Facility”). The JPM Credit Agreement was amended on June 12, 2020 to permit Mimecast to issue letters of credit in certain additional foreign currencies beyond the U.S. dollar and the British pound (as amended, the “Amended JPM Credit Agreement”).
Mimecast may voluntarily prepay any borrowing under the Amended JPM Credit Agreement, in whole or in part, at any time, subject to certain requirements. On May 6, 2022 the Company voluntarily prepaid the entire outstanding amount under the Term Loan, in the amount of $77,500,000, plus accrued interest.
The Amended JPM Credit Agreement, including the Revolving Facility provided thereby, and its related agreements will remain in effect until terminated in accordance with their terms. There are currently no amounts outstanding under the Revolving Facility.
The foregoing summary of the Amended JPM Credit Agreement does not purport to be complete and is qualified in its entirety by reference to the Amended JPM Credit Agreement and its related agreements, which were filed as Exhibits 10.12, 10.13. 10.14, 10.15, 10.16, 10.17, 10.18, 10.19, 10.20 and 10.34 to the Company’s Quarterly Report on Form 10-Q for the quarter ended December 31, 2021 (filed with the SEC on February 3, 2022), and are incorporated herein by reference.
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.
| Date: May 6, 2022 | Mimecast Limited | |||||
| By: | /s/ Rafeal Brown | |||||
| Rafeal Brown | ||||||
| Chief Financial Officer (Principal Financial and Accounting Officer) | ||||||