Goosehead Insurance, Inc. Announces New $300 Million Term Loan B and Declares a One-Time Special Dividend of $5.91 Per Share
Goosehead Insurance (NASDAQ: GSHD) has announced significant financial developments including a new $300 million term loan B and a $75 million revolving credit facility. The term loan, maturing on January 8, 2032, will bear interest at SOFR plus 3.50%. The proceeds will be used to retire the company's existing $93 million term loan and fund a special dividend.
The company has declared a special distribution of $175 million through Goosehead Financial, , payable on January 31, 2025, to Unit holders of record as of January 21, 2025. Additionally, the board approved a one-time special cash dividend of $5.91 per share of Class A common stock, payable on the same dates. The special dividend comprises $1.22 from excess tax distributions and $4.69 from Goosehead Financial's distribution.
Goosehead Insurance (NASDAQ: GSHD) ha annunciato sviluppi finanziari significativi, inclusi un nuovo prestito a termine B di 300 milioni di dollari e una linea di credito revolving di 75 milioni di dollari. Il prestito a termine, che scade l'8 gennaio 2032, avrà un interesse pari a SOFR più 3,50%. I proventi saranno utilizzati per estinguere l'attuale prestito a termine di 93 milioni di dollari dell'azienda e finanziare un dividendo speciale.
L'azienda ha dichiarato una distribuzione speciale di 175 milioni di dollari tramite Goosehead Financial, pagabile il 31 gennaio 2025, ai portatori di quote registrati al 21 gennaio 2025. Inoltre, il consiglio ha approvato un dividendo in contante speciale una tantum di 5,91 dollari per azione delle azioni comuni di Classe A, pagabile nelle stesse date. Il dividendo speciale comprende 1,22 dollari da distribuzioni fiscali in eccesso e 4,69 dollari dalla distribuzione di Goosehead Financial.
Goosehead Insurance (NASDAQ: GSHD) ha anunciado desarrollos financieros significativos, incluidos un nuevo préstamo a término B de 300 millones de dólares y una línea de crédito revolving de 75 millones de dólares. El préstamo a término, que vence el 8 de enero de 2032, llevará un interés del SOFR más el 3.50%. Los ingresos se utilizarán para pagar el préstamo a término existente de 93 millones de dólares de la compañía y financiar un dividendo especial.
La compañía ha declarado una distribución especial de 175 millones de dólares a través de Goosehead Financial, que se pagará el 31 de enero de 2025, a los titulares de unidades registrados al 21 de enero de 2025. Además, la junta aprobó un dividendo en efectivo especial único de 5.91 dólares por acción de acciones ordinarias de Clase A, pagadero en las mismas fechas. El dividendo especial comprende 1.22 dólares de distribuciones fiscales en exceso y 4.69 dólares de la distribución de Goosehead Financial.
구스헤드 보험 (NASDAQ: GSHD)은 3억 달러 규모의 B형 만기 대출과 7천5백만 달러의 회전 신용 시설을 포함한 중대한 재정 발전을 발표했습니다. 만기가 2032년 1월 8일인 이 대출은 SOFR에 3.50%를 더한 이자를 부과합니다. 수익금은 회사의 기존 9천3백만 달러 대출을 상환하고 특별 배당금을 지급하는 데 사용될 예정입니다.
회사는 구스헤드 파이낸셜을 통해 1억7천5백만 달러의 특별 분배를 발표했으며, 이는 2025년 1월 31일에 지급될 예정이고 2025년 1월 21일 기준의 유닛 보유자에게 지급됩니다. 또한 이사회는 A 클래스 보통주 1주당 5.91달러의 일회성 현금 배당금을 승인하였으며, 동일한 날짜에 지급됩니다. 특별 배당금은 세금 초과 분배액에서 1.22달러, 구스헤드 파이낸셜의 분배에서 4.69달러로 구성됩니다.
Goosehead Insurance (NASDAQ: GSHD) a annoncé des développements financiers significatifs, y compris un nouveau prêt à terme B de 300 millions de dollars et une ligne de crédit renouvelable de 75 millions de dollars. Le prêt à terme, qui arrive à échéance le 8 janvier 2032, portera un intérêt de SOFR plus 3,50%. Les fonds seront utilisés pour rembourser le prêt à terme existant de 93 millions de dollars de l'entreprise et financer un dividende spécial.
L'entreprise a déclaré une distribution spéciale de 175 millions de dollars par le biais de Goosehead Financial, payable le 31 janvier 2025, aux détenteurs d'unités enregistrés au 21 janvier 2025. De plus, le conseil a approuvé un dividende en espèces spécial ponctuel de 5,91 dollars par action des actions ordinaires de Classe A, payable aux mêmes dates. Le dividende spécial se compose de 1,22 dollar provenant de distributions fiscales excédentaires et de 4,69 dollars de la distribution de Goosehead Financial.
Goosehead Insurance (NASDAQ: GSHD) hat bedeutende finanzielle Entwicklungen bekannt gegeben, darunter ein neues Terminkredit B über 300 Millionen Dollar und eine wandlungsfähige Kreditfazilität über 75 Millionen Dollar. Der Terminkredit, der am 8. Januar 2032 fällig wird, wird mit SOFR plus 3,50% verzinst. Die Erlöse werden verwendet, um das bestehende Terminkredit des Unternehmens in Höhe von 93 Millionen Dollar zurückzuzahlen und eine Sonderdividende zu finanzieren.
Das Unternehmen hat eine sonstige Ausschüttung in Höhe von 175 Millionen Dollar über Goosehead Financial erklärt, die am 31. Januar 2025 zu zahlen ist, an die Anteilseigner, die am 21. Januar 2025 registriert sind. Darüber hinaus genehmigte der Vorstand eine einmalige Sonderdividende von 5,91 Dollar pro Aktie der Klasse A Stammaktien, die zu denselben Terminen zahlbar ist. Die Sonderdividende setzt sich aus 1,22 Dollar aus übermäßigen Steuerverteilungen und 4,69 Dollar aus der Verteilung von Goosehead Financial zusammen.
- Secured new $300M term loan B and $75M revolving credit facility
- Declared substantial special dividend of $5.91 per share
- Extended debt maturity to 2032 with new term loan
- Increased debt burden with new $300M term loan
- Higher interest rate exposure at SOFR plus 3.50%
WESTLAKE, Texas, Jan. 10, 2025 (GLOBE NEWSWIRE) -- Goosehead Insurance, Inc. (“Goosehead” or the “Company”) (NASDAQ: GSHD), a rapidly growing independent personal lines insurance agency, today announced that its subsidiary, Goosehead Insurance Holdings, LLC, has closed on a
Today, Goosehead announced that on January 9, 2025, Goosehead Financial, LLC declared a special distribution of
About Goosehead
Goosehead (NASDAQ: GSHD) is a rapidly growing and innovative independent personal lines insurance agency that distributes its products and services through corporate and franchise locations throughout the United States. Goosehead was founded on the premise that the consumer should be at the center of our universe and that everything we do should be directed at providing extraordinary value by offering broad product choice and a world-class service experience. Goosehead represents over 150 insurance companies that underwrite personal and commercial lines. For more information, please visit goosehead.com or goosehead.com/become-a-franchisee.
Forward-Looking Statements
This press release may contain various “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, which represent Goosehead’s expectations or beliefs concerning future events. Forward-looking statements are statements other than historical facts and may include statements that address future operating, financial or business performance or Goosehead’s strategies or expectations. In some cases, you can identify these statements by forward-looking words such as “may”, “might”, “will”, “should”, “expects”, “plans”, “anticipates”, “believes”, “estimates”, “predicts”, “projects”, “potential”, “outlook” or “continue”, or the negative of these terms or other comparable terminology. Forward-looking statements are based on management’s current expectations and beliefs and involve significant risks and uncertainties that could cause actual results, developments and business decisions to differ materially from those contemplated by these statements.
Factors that could cause actual results or performance to differ from the expectations expressed or implied in such forward-looking statements include, but are not limited to, conditions impacting insurance carriers or other parties with which Goosehead does business, the loss of one or more key executives or an inability to attract and retain qualified personnel and the failure to attract and retain highly qualified franchisees. These risks and uncertainties also include, but are not limited to, those described under the captions “1A. Risk Factors” in Goosehead’s Annual Report on Form 10-K for the year ended December 31, 2023 and in Goosehead’s other filings with the SEC, which are available free of charge on the Securities Exchange Commission's website at: www.sec.gov. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated. All forward-looking statements and all subsequent written and oral forward-looking statements attributable to Goosehead or to persons acting on behalf of Goosehead are expressly qualified in their entirety by reference to these risks and uncertainties. You should not place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made, and Goosehead does not undertake any obligation to update them in light of new information, future developments or otherwise, except as may be required under applicable law.
Contacts
Investor Contact:
Dan Farrell
Goosehead Insurance - VP Capital Markets
Phone: (214) 838-5290
Email: dan.farrell@goosehead.com; IR@goosehead.com;
PR Contact:
Mission North for Goosehead Insurance
Email: goosehead@missionnorth.com; PR@goosehead.com
FAQ
What is the amount of GSHD's special dividend announced on January 9, 2025?
When will GSHD's special dividend be paid to shareholders?
What is the interest rate on GSHD's new $300M term loan?
What is the maturity date of GSHD's new term loan facility?
How will GSHD use the proceeds from the new $300M term loan?
