Goosehead Insurance (GSHD) said Friday its Goosehead Insurance Holdings unit has closed on a $300 million term loan B and $75 million revolving credit facility.
The company said proceeds from the new term loan will be used to retire its existing $93 million term loan, pay a one-time special dividend, and for other general corporate purposes.
Goosehead said its board declared a one-time special cash dividend of $5.91 per class A common share, payable on Jan. 31 to holders of record as of Jan. 21.
The company also said that Goosehead Financial declared a special cash distribution of $175 million, payable on Jan. 31 to holders of record of LLC units, including the company, as of Jan. 21.
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