• Upwork entered a secured revolving credit facility for up to $150 million, including a $10 million standby letter of credit sublimit.
• The facility includes an accordion option to add up to $50 million via a larger revolver or new term loans.
• Proceeds can fund working capital, general corporate purposes, repurchase or repay certain convertible debt, fees, acquisitions.
• Borrowings price at Term SOFR plus 2.00%-2.50% or base rate plus 1.00%-1.50%, tied to consolidated net leverage.
• The credit facility matures on June 23, 2029. It is secured by substantially all assets of the company and its domestic subsidiaries.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Upwork Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001627475-26-000039), on June 23, 2026, and is solely responsible for the information contained therein.