Recent Updates — CVSA
On September 18, 2026, Covista Inc. entered into Amendment No. 6 to its Credit Agreement with Morgan Stanley Senior Funding, Inc., repricing $510 million in outstanding term loans. The amendment reduced the interest rate margin from Term SOFR plus 2.25% (or base rate plus 1.25%) to Term SOFR plus 2.00% (or base rate plus 1.00%). A 1.00% soft call premium applies to prepayments or amendments occurring within six months of the effective date. Other terms remain unchanged. Covista Inc. operates in the healthcare services industry, specifically providing medical billing and revenue cycle management solutions.
Covista Inc. reported fourth quarter and full-year fiscal 2026 results ending June 30, 2026, exceeding financial guidance. Q4 revenue increased 9.7% year-over-year to $501.4 million, while total student enrollment grew 8.4% to 99,472. Full-year revenue rose 9.3% to $1,954.1 million, with diluted earnings per share reaching $7.04 and adjusted EPS of $8.25, representing 23.7% growth. The company repurchased $238 million in shares and repaid $50 million of debt during the fiscal year, maintaining a net leverage ratio of 0.5x as of June 30, 2026. Covista initiated fiscal 2027 guidance projecting revenue between $2,050 million and $2,090 million and adjusted EPS between $8.90 and $9.15. The company operates in the higher education sector, specifically as a healthcare educator training professionals through institutions including Chamberlain University, Walden University, and medical schools.
Covista Inc. appointed Emily Chiu and Leslie Storms as independent members of its Board of Directors, effective August 17, 2026. The Board simultaneously increased its size from ten to twelve members. Chiu, former CEO of Novo Platform and ex-Block Inc. executive, and Storms, COO of National Veterinary Associates, will receive prorated RSU grants valued at approximately $32,986 and annual cash compensation of $85,000. This appointment brings the total number of independent directors to ten out of twelve. Covista operates in the healthcare education sector, serving students across accredited medical and veterinary institutions.