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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| SelectQuote Inc | NYSE:SLQT | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.01 | 0.66% | 1.52 | 1.55 | 1.52 | 1.53 | 29,750 | 14:40:58 |
From May 2022 to May 2024
SelectQuote Inc. said there could be major doubts about its long-term survival if negotiations with senior secured lenders aren't successful.
In a Securities and Exchange Commission filing Thursday, the Overland Park, Kan.-based insurance distributor said that, under a credit facility, it must maintain a certain financial ratio.
As of March 31, the business was in compliance but said forecasts show a risk it could fall out of compliance within a year. That would permit lenders to declare a default and demand all amounts due, liquidity that SelectQuote would lack.
SelectQuote spokesman Matt Gunter said the company has "a relatively small group of lenders" and is "in active and constructive dialogue" about a debt covenant waiver or modification.
It currently owes more than $700 million under the facility.
Write to Becky Yerak at becky.yerak@wsj.com
(END) Dow Jones Newswires
May 05, 2022 17:44 ET (21:44 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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