Goosehead Insurance, Inc. announces new $300 million term loan B and declares one-time special dividend of $5.91 per share Investing.com

WESTLAKE, Texas, Jan. 10, 2025 (GLOBE NEWSWIRE) — Goosehead Insurance, Inc. (Goosehead or Company) (NASDAQ: GSHD ), a rapidly growing independent personal lines insurance agency, today announced that its subsidiary, Goosehead Insurance Holdings , LLC, has closed a $300 million term loan B facility and a $75 million revolving credit facility. The term loan will bear interest at the SOFR rate plus 3.50%. The proceeds of the new term loan agreement will be used to retire the Company’s existing $93 million term loan, pay a one-time special dividend and for other general corporate purposes. The maturity date of the new term loan is January 8, 2032.

Today, Goosehead announced that on January 9, 2025, Goosehead Financial, LLC declared a special distribution of $175 million payable in cash on January 31, 2025 to holders of record of LLC units, including Goosehead, as of the close of business on January 21. , 2025. In addition, Goosehead announced today that on January 9, 2025, its board of directors declared a one-time special cash dividend of $5.91 per share of Class A common stock. The dividend will be paid in cash on January 31, 2025 to holders of record of Class A common stock as of the close of business on January 21, 2025. The $1.22 special dividend will be funded by cash received by Goosehead from prior tax distributions from Goosehead Financial, LLC that are greater from corporate income tax paid by Goosehead. The remaining $4.69 of the special dividend will be funded by cash received by Goosehead from the distribution of Goosehead Financial, LLC.

About Goosehead

Goosehead (NASDAQ: GSHD ) is a fast-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 focused on providing exceptional value by offering a wide selection of products and a world-class service experience. Goosehead represents over 150 insurance companies that underwrite personal and commercial lines. For more information, 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 regarding future events. Forward-looking statements are statements that are not historical facts and may include statements regarding future operating, financial or business results or Goosehead’s strategies or expectations. In some cases, you can identify these statements by forward-looking words such as may, could, will, should, expect, plan, predict, believe, estimate, predict, project, potential, prospect or continue, or the negative of these concepts 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 anticipated in 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 affecting policyholders or other parties with whom Goosehead does business, the loss of one or more key executives or the 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 headings 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 and Exchange Commission’s website at: www.sec.gov. If one or more of these risks or uncertainties materialize, or if underlying assumptions prove incorrect, actual results could differ materially from those stated. All forward-looking statements and all subsequent written and oral forward-looking statements attributable to Goosehead or 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 undertakes no obligation to update them in light of new information, future developments or otherwise, except as required by applicable law.

Contacts
Contact for investors:
Dan Farrell
Goosehead Insurance – Vice President of 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

Source: Goosehead Insurance, Inc.