SelectQuote, a leading distributor of Medicare insurance policies and owner of a rapidly-growing healthcare services platform, successfully completed a credit facility comprised of a $325 million term loan facility with Pathlight Capital LP (“Pathlight”) and an enhanced $90 million revolving credit facility with UMB Bank (“UMB”).

The new credit facility immediately strengthens the company’s financial position by extending its term debt maturity to 2031 and providing greater access to liquidity for future operations. This successful transaction is a testament to the confidence placed by Pathlight and UMB Bank in the stability and long-term cash flow potential of the SelectQuote business model, including the Company’s approximately $1 billion in commissions receivable and increasingly cash generative SelectRx pharmacy and healthcare services division.

The new agreement benefits the Company in several ways, including:

• Extended Maturity: The proceeds from the new term loan facility were used to fully repay all existing term debt, including the outstanding balances previously due in June 2026 and September 2027. The transaction significantly extends the debt maturity by providing a new five-year maturity period to January 2031.

• Enhanced Liquidity and Flexibility: The UMB revolving credit facility increases the Company’s access to liquidity with up to $90 million available during the peak season compared to the prior facility limit of $72 million. The new term loan provided by Pathlight offers a lower principal amortization and greater investment flexibility compared to the prior facility.

• Improved Cost of Capital: The new credit facility provides a slightly improved cost of capital, provides for future interest rate step downs totaling up to 100 basis points, and significantly improves the Company's operating flexibility.

"We are extremely pleased to announce this new financing agreement, which marks a significant milestone in the continued optimization of our capital structure," said Tim Danker, SelectQuote’s Chief Executive Officer. "As we emerge from another successful Medicare Annual Enrollment Period, this new financing agreement positions us well to continue to invest and grow our industry-leading senior health insurance and healthcare services businesses."

Tyler Harrington, Managing Director at Pathlight Capital said, “What gave us conviction was the strength and candor of the management team. They’ve built a diversified business and successfully navigated through periods of rapid growth and industry change. Our financing provides flexible capital to support the next phase of the Company’s growth.”

SelectQuote's Chief Financial Officer, Ryan Clement added, "The Pathlight term loan provides a substantial extension of our debt maturity and a strong foundation for future growth. This successful financing is a clear validation of our business model and the confidence our lending partners have in SelectQuote's cash flow generation capabilities. Coupled with the enhanced UMB revolver, we have significantly strengthened our liquidity position and overall financial flexibility to execute on our strategic priorities. We are excited to partner with Pathlight and to build upon our long-standing relationship with UMB Bank on this transaction."

Jefferies served as Exclusive Financial Advisor to SelectQuote in the transaction. Wachtell, Lipton, Rosen & Katz served as legal advisor to SelectQuote.