Ardent Health, Inc.
For the period ended Sep 18, 2025. Filed Sep 23, 2025.
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Sep 18, 2025 · Filed Sep 23, 2025
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Securities registered pursuant to Section 12(b) of the Act:
| Title of each Class | TradingSymbol(s) | Name of each exchangeon which registered |
|---|---|---|
| Common Stock, $.01 par value per share | ARDT | New York Stock Exchange |
Indicate by check mark whether the Registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933
(§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth companyo
If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Item 1.01. Entry into a Material Definitive Agreement.
On September 18, 2025 (the “Amendment Effective Date”), Ardent Health, Inc., a Delaware corporation (the “Company”),
AHP Health Partners, Inc., a Delaware corporation and a wholly-owned subsidiary of the Company (the “Borrower”),
certain wholly-owned subsidiaries of the Borrower party thereto (the “Subsidiary Guarantors”), Bank of America, N.A.
(“Bank of America”), as administrative agent, and the other financial institutions party thereto entered into Amendment No.
3 (the “Term Loan Amendment”), which amends that certain Amended and Restated Term Loan Credit Agreement, dated
as of August 24, 2021, by and among the Borrower, the Company, the Subsidiary Guarantors, Bank of America and the
other financial institutions party thereto from time to time (as amended, the “Term Loan Credit Agreement”). Also, on
September 18, 2025, the Company, the Borrower, AHS East Texas Health System, LLC (“AHS East Texas”), certain
subsidiaries of the Borrower and AHS East Texas party thereto as borrowers, certain Subsidiary Guarantors, the lenders
party thereto and Bank of America, as administrative agent, entered into Amendment No. 5 to Amended and Restated ABL
Credit Agreement (the “ABL Amendment”), which amends that certain Amended and Restated ABL Credit Agreement,
dated as of July 8, 2021 (as amended, the “ABL Credit Agreement”), by and among the borrowers, guarantors and lenders
party thereto and Bank of America.
The Term Loan Amendment amended the Term Loan Credit Agreement to, among other things, (i) refinance in full all of
the outstanding term loans under the Term Loan Credit Agreement (as in effect immediately prior to the Term Loan
Amendment), (ii) extend the maturity date for the term loans from August 24, 2028 to September 18, 2032, (iii) reduce the
applicable interest rate by 50 basis points from Term Secured Overnight Financing Rate (“SOFR”) plus 2.75% to Term
SOFR plus 2.25%, and from the base rate plus 1.75% to the base rate plus 1.25% and (iv) increase the baskets for certain
fixed dollar negative covenants.
The ABL Amendment amended the ABL Credit Agreement to update the baskets for certain fixed dollar negative
covenants to match the terms of the Term Loan Credit Agreement (as amended by the Term Loan Amendment), but it did
not extend the maturity date or make any material changes to the ABL Credit Agreement. The foregoing description of the
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