New loans, notes, and credit facilities disclosed under 8-K Items 2.03/2.04.
IMMUCELL CORP /DE/ incurred term loan of $1 million with Finance Authority of Maine at fixed rate of 8.00% per annum maturing three-year term.
“The FAME facility is a $1 million term note bearing interest at a fixed rate of 8.00% per annum with monthly principal and interest payments based on a seven-year amortization schedule with a three-year term.”
IMMUCELL CORP /DE/ incurred term loan of $2 million with Gorham Savings Bank at fixed rate of 7.00% per annum maturing three-year term.
“The GSB facility is a $2 million term note bearing interest at a fixed rate of 7.00% per annum with monthly principal and interest payments based on a seven-year amortization schedule with a three-year term.”
D-Wave Quantum Inc. amended term loan with PSPIB Unitas Investments II Inc..
“On July 20, 2023, D-Wave Quantum Inc. (the "Company") entered into the Third Amendment to Loan and Security Agreement (the “Amendment”) with PSPIB Unitas Investments II Inc. (“PSPIB”) amending certain provisions to the Loan and Security Agreement dated as of April 13, 2023, by and among the Company and its subsidiaries and PSPIB, as amended (the “Term Loan”). Under the Amendment, no prepayment of the advances under the Term Loan is required with respect to aggregate gross proceeds of up to $50,000,000 received pursuant to share issuances under the ELOC (as defined in the Term Loan) to the extent that such proceeds are received prior to October 18, 2023.”
Crescent Energy Co incurred senior notes of $300 million aggregate principal amount with U.S. Bank Trust Company, National Association at 9.250% per annum maturing February 15, 2028.
“On July 20, 2023, Crescent Energy Finance LLC (the “Issuer”), a Delaware limited liability company and indirect subsidiary of Crescent Energy Company (NYSE: CRGY) (the “Company”), issued $300 million aggregate principal amount of its 9.250% senior notes due 2028 (the “New Notes”).”
Babylon Holdings Ltd incurred term loan of up to $11,500,000 with AlbaCore Bridge Notes Subscribers at Term SOFR plus credit adjustment spread plus a 12% margin.
“Pursuant to the Amended Bridge Facility Agreement, the AlbaCore Bridge Notes Subscribers agreed to provide further secured debt financing in the form of an additional senior secured term loan notes facility (the “New Bridge Facility (July 2023)”) in an additional aggregate principal amount of up to $11,500,000”
TortoiseEcofin Acquisition Corp. III incurred convertible notes of up to $1,000,000 with Hennessy Capital Growth Partners Fund I SPV V, LLC at bears no interest maturing the earlier of (i) the date on which the Company consummates its initial business combination and (ii) the date that the winding up of the Company is effective.
“On July 19, 2023, TortoiseEcofin Acquisition Corp. III, a Cayman Islands exempted company (the “ Company ”), issued a promissory note (the “ Note ”) in the principal amount of up to $1,000,000 to Hennessy Capital Growth Partners Fund I SPV V, LLC, a Delaware limited liability company (“ HCGP ”).”
Hudson Acquisition I Corp. amended loan of loans up to $1,000,000 in the aggregate with Hudson SPAC Holding, LLC maturing upon the earlier of (i) the date of the consummation of the Company’s initial business combination and (ii) the date of the liquidation of the Company.
“On July 20, 2023, the Company and the Sponsor amended and restated the promissory note, dated as of April 5, 2021 (as amended and restated, the “Working Capital Note”), providing for loans up to $1,000,000 in the aggregate.”
Hudson Acquisition I Corp. incurred loan of up to the aggregate principal amount of $720,000 with Hudson SPAC Holding, LLC maturing upon the earlier of (i) the date of the consummation of the Company’s initial business combination and (ii) the date of the liquidation of the Company.
“On July 18, 2023, Hudson SPAC Holding, LLC (the “Sponsor”) entered into a non-interest bearing, unsecured promissory note issued by Hudson Acquisition I Corp. (the “Company”) in favor of the Sponsor (the “Extension Note”), providing for loans up to the aggregate principal amount of $720,000.”
Generation Asia I Acquisition Ltd incurred loan of $870,000 with Generation Asia LLC at bears no interest maturing repayable in full upon the consummation of a business combination.
“On July 21, 2023, Generation Asia I Acquisition Limited, a Cayman Islands exempted company (the " Company "), issued a non-convertible unsecured promissory note to Generation Asia LLC, a Cayman Islands limited liability company (the " Sponsor "), for a collective principal amount of $870,000 (the " Promissory Note ").”
Estrella Immunopharma, Inc. incurred loan of $50,000 with Tradeup INC. at no interest maturing upon the earlier to occur of (i) the consummation of the Business Combination or (ii) the date of expiry of the term of the Company.
“On July 20, 2023, TradeUP Acquisition Corp. (the “Company”) issued an unsecured promissory note (the “Promissory Note”) in the amount of $50,000 to Tradeup INC., one of the founders of the Company.”
Marblegate Acquisition Corp. incurred loan of up to $500,000 with Marblegate Special Opportunities Master Fund, L.P. at 0% maturing due and payable upon the earlier to occur of (i) the date on which the Company consummates its initial business combination and (ii) the date that the winding u.
“On July 20, 2023, Marblegate Acquisition Corp. (the “ Company ”) issued a promissory note (the “ Note ”) in the principal amount of up to $500,000 to Marblegate Special Opportunities Master Fund, L.P., a member of the Company’s sponsor (the “ Payee ”). The Note was issued in connection with advances the Payee has made, and may make in the future, to the Company for working capital expenses. The Note bears no interest and is due and payable upon the earlier to occur of (i) the date on which the Company consummates its initial business combination and (ii) the date that the winding up of the Company is effective.”
Priveterra Acquisition Corp. II incurred loan of up to $2,000,000 with Priveterra Sponsor, LLC II at 16.00% maturing the date on which the Company consummates its initial business combination.
“On July 17, 2023, Priveterra Acquisition Corp. II, a Delaware corporation (the “Company”), issued a promissory note (the “Note”) to Priveterra Sponsor, LLC II (the “Sponsor”) in the principal amount of up to $2,000,000.”
Near Intelligence, Inc. amended credit facility of $76,742,047.02 with Blue Torch Finance LLC.
“After giving effect to the application of the Prepayment Amount and the PIK Payment, the principal balance of the loans under the Financing Agreement was $76,742,047.02 as of July 18, 2023.”
Blue Owl Credit Income Corp. incurred senior notes of $150 million aggregate principal amount with SMBC Nikko Securities America, Inc., RBC Capital Markets, LLC, Truist Securities, Inc. and Wells Fargo Securities, LLC at 7.950% maturing June 13, 2028.
“On July 21, 2023, Blue Owl Credit Income Corp. (f/k/a Owl Rock Core Income Corp.) (the “Company”) completed its previously announced offering of an additional $150 million aggregate principal amount of its 7.950% notes due 2028 (the “Notes”).”
WeWork Inc. incurred senior notes of $58.3 million at 15.000% maturing due 2027.
“pursuant to which the Issuers issued $116.7 million in aggregate principal amount of 15.000% First Lien Senior Secured PIK Notes due 2027, Series II (the “New Series II Notes”), and $58.3 million in aggregate principal amount of 15.000% First Lien Senior Secured PIK Notes due 2027, Series III (the “New Series III Notes” and, together with the New Series II Notes, the “New Notes”)”
WeWork Inc. incurred senior notes of $116.7 million with SoftBank Vision Fund II-2 L.P. at 15.000% maturing due 2027.
“On July 17, 2023, WeWork Companies LLC, a Delaware limited liability company (the “Issuer”) and wholly-owned subsidiary of WeWork Inc., a Delaware corporation (the “Company”), WW Co-Obligor Inc., a Delaware corporation and wholly-owned subsidiary of the Issuer (the “Co-Obligor” and, together with the Issuer, the “Issuers”), the guarantors party thereto (collectively, the “Guarantors”) and U.S. Bank Trust Company, National Association, as trustee (the “Trustee”), entered into a supplemental indenture (the “First Supplemental Indenture”) to the Base Indenture (as defined below) pursuant to which the Issuers issued $116.7 million in aggregate principal amount of 15.000% First Lien Senior Secured PIK Notes due 2027, Series II (the “New Series II Notes”)”
Rocket Companies, Inc. amended credit facility of decreased the facility amount from $1.25 billion to $1.0 billion with Barclays Bank PLC maturing July 21, 2025.
“On July 21, 2023, Rocket Mortgage, LLC (the “Company”), a Michigan limited liability company and indirect subsidiary of Rocket Companies, Inc., as seller, and Barclays Bank PLC, a public limited company formed under the laws of England and Wales, as buyer ("Barclays"), entered into Amendment No. 3 to the Master Repurchase Agreement ("MRA Amendment") and the related amendment no. 3 to pricing side letter, which extended the expiration date of the existing Master Repurchase Agreement, dated as of September 25, 2020 by and between Barclays, as buyer, and the Company, as seller (the "Master Repurchase Agreement"), from September 24, 2023 to July 21, 2025, decreased the facility amount from $1.25 billion to $1.0 billion and effectuated certain other technical changes to the Master Repurchase Agreement.”
T3 Defense Inc. incurred loan of $32,300 with Nukkleus, Inc. at does not bear interest maturing upon closing of the Company’s initial business combination.
“On July 20, 2023, Brilliant Acquisition Corporation (the “Company” or “Brilliant”) issued an unsecured promissory note dated July 20, 2023, in the aggregate principal amount of $32,300 (the “Note”) to Nukkleus, Inc. (“Nukkleus”), the counterparty to the previously announced merger agreement dated as of February 22, 2022 (as amended and restated on June 23, 2023), pursuant to which a proposed business combination among Nukkleus, Brilliant and BRIL Merger Sub, Inc. (“Merger Sub”) would occur in which Merger Sub would merge into Nukkleus, and Nukkleus would become a wholly-owned subsidiary of Brilliant. The Note does not bear interest and matures upon closing of the Company’s initial business combination.”
Utz Brands, Inc. amended revolving credit of approximately $225,000,000.
“The Eighth Amendment amends the Credit Agreement to, among other things, increase the aggregate amount of the revolving credit commitments under the ABL Facility from $175,000,000 to approximately $225,000,000 to align the borrowing capacity under the ABL Facility with the increased size of the borrower parties’ Collateral (as defined in the Credit Agreement), to extend the Maturity Date (as defined in the Credit Agreement), and to make certain other changes to the terms of the ABL Facility.”
EVmo, Inc. reported a default on lease obligation with Wingspire Equipment Finance LLC.
“On July 12, 2023, the Company received correspondence from Wingspire Equipment Finance LLC (formerly known as Liberty Commercial Finance LLC, (“Wingspire”)) that constitutes a notice of default and reservation of rights under that certain Master Equipment Lease Agreement #32182 by and between the Company and Wingspire dated May 23, 2022 (the “Wingspire ELA”), in which Wingspire asserts that, among other events of default, the Company has: (i) failed to make a rental payment owed under the Wingspire ELA, (ii) failed to pay stipulated loss value for certain equipment, (iii) failed to maintain the equipment leased under the Wingspire ELA free from third-party liens, (iv) experienced an event of default under its senior credit facility, and (v) experienced a material adverse change in its financial condition.”
EVmo, Inc. reported a default on debt with Bellridge Capital, L.P..
“On July 10, 2023, the Company received correspondence from the principal of Bellridge Capital, L.P. (“Bellridge”) relating to a settlement agreement entered into by and between the Company and Bellridge as of March 16, 2023 (the “Settlement Agreement”). In this correspondence, Bellridge has asserted that the Company is in default of an installment payment it was required to make on July 3, 2023.”
EVmo, Inc. reported a default on lease obligation with NFS Leasing, Inc..
“On July 7, 2023, EVmo, Inc., a Delaware corporation (the “Company”), received correspondence from NFS Leasing, Inc. (“NFS”) pursuant to that certain Master Equipment Finance Agreement No. 2022-0232 by and between the Company and NFS, dated May 25, 2022 (the “NFS EFA”) stating that the Company is in default under the NFS EFA.”
Avangrid, Inc. incurred revolving credit of up to $750 million with Iberdrola Financiación, S.A.U. maturing June 18, 2028.
“On July 19, 2023, the Corporation entered into an intra-group credit facility with the Lender (the “Intra-Group Credit Facility”). The Intra-Group Credit Facility provides for revolving loans to be made available to the Corporation in the aggregate principal amount of up to $750 million and contains customary representations and warranties and events of default.”
Avangrid, Inc. incurred loan of $800,000,000 with Iberdrola Financiación, S.A.U. at 5.453% maturing July 13, 2033.
“On July 19, 2023, Avangrid, Inc. (the “Corporation”) entered into an intra-group green loan agreement with Iberdrola Financiación, S.A.U., a wholly-owned subsidiary of Iberdrola, S.A. (the “Lender”), which owns 81.5% of the issued and outstanding shares of common stock of the Corporation (the “Intra-Group Green Loan Agreement”). The Intra-Group Green Loan Agreement provides the Corporation with an unsecured subordinated loan in an aggregate principal amount of $800,000,000 (the “Loan”).”
INVO Fertility, Inc. incurred debt of $543,750 with Cedar Advance LLC.
“On July 20, 2023, INVO Bioscience, Inc. (the “Company”) entered into a Standard Merchant Cash Advance Agreement (the “Cash Advance Agreement”) with Cedar Advance LLC (“Cedar”) under which Cedar purchased $543,750 of our receivables for a gross purchase price of $375,000.”
STEEL DYNAMICS INC incurred revolving credit of $1.2 billion maturing July 19, 2028.
“The new Credit Agreement replaces the December 3, 2019 Credit Agreement. The Credit Agreement has an unsecured revolving credit facility of $1.2 billion and a maturity date of July 19, 2028.”
Hyperscale Data, Inc. incurred credit facility of $24,326,222 with JGB Capital, LP, JGB Partners, LP and JGB (Cayman) Buckeye Ltd. at 8.5% per annum maturing May 7, 2024.
“Borrower, borrowed an additional $8,833,333 (the “ Additional Loan Amount ”) and issued amended and restated secured promissory notes to the Investors in the aggregate amount of $24,326,222 (collectively, the “ Amended Notes ”; and the transaction, the “ Additional Financing ”). The Amended Notes reflected the total amount outstanding under the Loan Agreement after”
OCA Acquisition Corp. incurred loan of $90,000 with OCA Acquisition Holdings LLC at does not bear interest maturing upon closing of the Company's initial business combination.
“On July 12, 2023, the board of directors of OCA Acquisition Corp., a Delaware corporation (the “ Company ”), approved a draw of an aggregate of $90,000 (the “ Extension Funds ”) pursuant to the Promissory Note, dated as of January 19, 2023, between the Company and OCA Acquisition Holdings LLC (the “ Note ”), which Extension Funds the Company deposited into the Company’s trust account for its public stockholders on July 20, 2023.”
RAYONIER ADVANCED MATERIALS INC. incurred term loan of $150 million with Lux Borrower (RYAM Lux SARL) at three-month Term SOFR (or, if greater, 3.00%) plus 8.50% maturing four year anniversary of the Closing Date.
“On the Closing Date, immediately following the borrowing of the loans under the Term Loan Credit Agreement, RYAM entered into a Credit Agreement (the “Pari Passu Credit Agreement”), as borrower, with the Lux Borrower, as lender, and the Guarantors (other than RYAM), as guarantors. The Pari Passu Credit Agreement provides for a senior secured term loan facility (the “Pari Passu Facility”) of $150 million. RYAM’s obligations under the Pari Passu Facility are guaranteed (the “Pari Passu Facility Guarantees”) by the Guarantors (other than RYAM), and RYAM’s obligations thereunder and the Pari Passu Facility Guarantees are secured by the same assets of RYAM and such Guarantors as secure the 2026 Notes and the Term Loan Facility on a pari passu basis with the liens on such assets securing such obligations. The Pari Passu Facility bears interest at a rate per annum rate equal to three-month Term SOFR (or, if greater, 3.00%) plus 8.50%. The Pari Passu Facility matures on the four year anniversa”
RAYONIER ADVANCED MATERIALS INC. incurred term loan of $250 million with Oaktree Capital Management, L.P. at three-month Term SOFR (or, if greater, 3.00%) plus 8.00% maturing four year anniversary of the Closing Date.
“The Term Loan Credit Agreement provides for a senior secured term loan facility of $250 million (the “Term Loan Facility”). The proceeds from the Term Loan Facility will be used to (a) fund the Pari Passu Facility (as defined below) to RYAM, (b) pay fees and expenses related to the transactions and (c) fund a distribution on equity to Rayonier A.M. Products Inc., a Delaware corporation (“RAM Products”). The proceeds of the Pari Passu Facility and such distribution will be used directly or indirectly, together with cash on hand, to fund the redemption in full of the 2024 Notes (as defined below) and to pay fees and expenses related to the transactions. The Lux Borrower’s obligations under the Term Loan Facility are unsecured. The Lux Borrower’s obligations under the Term Loan Facility are guaranteed (the “Term Loan Guarantees”) by RYAM and each subsidiary of RYAM that guarantees RAM Products’ Senior Secured Notes due 2026 (the “2026 Notes”) (collectively with RYAM, the “Guarantors”), an”
Piedmont Realty Trust, Inc. incurred senior notes of $400,000,000 with U.S. Bank Trust Company, National Association at 9.250% per year maturing July 20, 2028.
“On July 20, 2023, Piedmont Operating Partnership, LP (the “Operating Partnership”), the operating partnership and wholly owned subsidiary of Piedmont Office Realty Trust, Inc. (the “Company”), issued $400,000,000 in aggregate principal amount of 9.250% Senior Notes due 2028 (the “Notes”), which mature on July 20, 2028, pursuant to an indenture, dated as of March 6, 2014 (as amended and supplemented by a supplemental indenture (the “Supplemental Indenture”), dated as of July 20, 2023, the “Indenture”), by and among the Operating Partnership, the Company and U.S. Bank Trust Company, National Association, as trustee (the “Trustee”).”
Vitro Biopharma, Inc. incurred convertible notes of $100,000 at eight per cent per year maturing five years from the date of issuance.
“On July 13, 2023, Vitro Biopharma, Inc. (the “Company”) entered into definitive agreements with an accredited investor for the sale of an 8% convertible promissory note (the “Convertible Note”) in the principal amount of $100,000 and warrants to purchase shares of common stock of the Company (the “Warrants”) for total proceeds of $100,000.”
Blue Ocean Acquisition Corp incurred debt of $350,000 with Blue Ocean Sponsor LLC.
“o the Company’s sponsor, Blue Ocean Sponsor LLC (the “Sponsor”), which provides for borrowings from time to time of”
Blue Ocean Acquisition Corp incurred loan of up to an aggregate of one million five hundred thousand U.S. Dollars ($1,500,000.00) with Blue Ocean Sponsor LLC maturing June 7, 2024.
“On June 20, 2023, Blue Ocean Acquisition Corp (the “Company”) issued an unsecured promissory note (the “Sponsor Note”) to the Company’s sponsor, Blue Ocean Sponsor LLC (the “Sponsor”), which provides for borrowings from time to time of up to an aggregate of one million five hundred thousand U.S. Dollars ($1,500,000.00)”
Fortune Rise Acquisition Corp incurred loan of $100,000 with Water On Demand, Inc. at non-interest bearing maturing earlier of (i) consummation of the Company’s initial business combination and (ii) the date of the liquidation of the Company.
“xtension Payment, the Company issued an unsecured promissory note (the “ Note ”) to Water On Demand, Inc., a Nevada corporation and the entity which controls the Company’s sponsor.”
Estrella Immunopharma, Inc. incurred convertible notes of $37,432.70 with Estrella Biopharma, Inc. at bears no interest maturing upon the consummation of the Company’s business combination.
“Such deposit is evidenced by an unsecured promissory note in the principal amount of $37,432.70 issued by the Company to Estrella (the “Extension Note”). The Extension Note bears no interest and is payable in full upon the consummation of the Company’s business combination (the “Business Combination”) (such date, the “Maturity Date”).”
GoDaddy Inc. incurred term loan of $1,761 million at initial Applicable Margin is (i) 2.50% for the Replacement Term Loans that are S maturing 2029.
“The Eighth Amendment provides for a new $1,761 million tranche of term loans maturing in 2029 (the “Replacement Term Loans”), the proceeds of which were used to refinance all outstanding Existing Amendment No. 6 Term Loans. The amortization rate for the Replacement Term Loans is 1.00% per annum and the first installment shall be payable on or about September 30, 2023. Pursuant to the Eighth Amendment, the initial Applicable Margin is (i) 2.50% for the Replacement Term Loans that are SOFR Loans and (ii) 1.50% for the Replacement Term Loans that are ABR Loans.”
TESSCO TECHNOLOGIES INC incurred lease obligation with New Mountain Net Lease Acquisition II Corporation.
“pril 11, 2023, by and between Parent and New Mountain Net Lease Acquisition II Corporation, a Delaware corporation (“Buyer”),”
TESSCO TECHNOLOGIES INC amended revolving credit of $105.0 million with Wells Fargo Bank, National Association.
“Amendment No. 5 amends and restates the terms of the Company’s previously existing $80.0 million Revolving Credit Facility to increase the revolving credit facility to $105.0 million, on similar but amended terms.”
CITIUS ONCOLOGY, INC. incurred convertible notes of $660,000 with 10XYZ Holdings LP at bears no interest maturing upon the consummation of the Company's business combination.
“On July 18, 2023, the Company deposited $660,000 into the trust account of the Company (the “Extension Fee”) to extend the timeline to complete a business combination for an additional three months from July 18, 2023 to October 18, 2023 (the “Extension”). Such deposit of the Extension Fee is evidenced by an unsecured promissory note (the “Promissory Note”) in the principal amount of $660,000 to the Sponsor. The Promissory Note bears no interest and is payable in full upon the consummation of the Company’s business combination (such date, the “Maturity Date”).”
Black Mountain Acquisition Corp. incurred loan of $160,000 with Black Mountain Sponsor LLC at no interest maturing due and payable upon the earlier to occur of (i) the date on which the Company consummates an Initial Business Combination and (ii) the liquidation of the Compa.
“On July 17, 2023, Black Mountain Acquisition Corp. (the “Company”) issued an unsecured promissory note (the “Note”) to Black Mountain Sponsor LLC (the “Sponsor”) in the principal amount of $160,000 in connection with the Extension (as defined below).”
HighPeak Energy, Inc. amended credit facility of not specified (but the amendment includes a temporary restriction on borrowing further amounts until the Company has rec with Wells Fargo Bank, National Association (as successor to Fifth Third Bank, National Association), as administrative agent, and the lenders party thereto at certain pricing increases (no specific rates provided) maturing not directly amended (but the Ninth Amendment postpones the February Notes Obligation to September 1, 2023).
“On July 12, 2023, the Company entered into a Ninth Amendment to the Credit Agreement, dated as of December 17, 2020, by and among the Company, Wells Fargo Bank, National Association (as successor to Fifth Third Bank, National Association), as administrative agent, and the lenders party thereto (as amended, restated, amended and restated, supplemented or otherwise modified, the “Credit Agreement,” and such amendment, the “Ninth Amendment”) to, among other things, provide for (i) a waiver of the minimum current ratio covenant for the fiscal quarter ended June 30, 2023 under the Credit Agreement, (ii) a waiver of the failure to subject one or more certain accounts to an Account Control Agreement within the period provided in the Credit Agreement, (iii) a postponement of the April 2023 borrowing base redetermination until September 2023, (iv) a postponement of the date on which the Company was previously obligated (the “February Notes Obligation”) thereunder to either extend the maturity o”
SHIFT TECHNOLOGIES, INC. amended credit facility of reduced maximum available credit line from $75 million to $30 million with Ally Bank and Ally Financial Inc..
“the Lender. The Second Amendment amends the Ally Facility to, among other things, (i) reduce the maximum available credit line (the “ Credit Line ”) under the Ally Facility from $75 million to $30 million, (ii) eliminate the option for a Borrower to obtain financing from the Lender for vehicles for which Dealership does not then hold a lien-free title, and (iii)”
Kisses From Italy Inc. incurred convertible notes of $115,000.00 with GS Capital Partners, LLC at 10% per annum maturing July 11, 2024.
“(the “Purchase Agreement”) with GS Capital Partners, LLC, (the “Buyer”), pursuant to which the Company issued to the Buyer a 10% promissory note in the principal amount of $115,000.00 (the “Note”). The Company received $105,000.00 gross proceeds from the Buyer due to the original issue discount on the Note of $10,000. In connection with the execution and”
9 METERS BIOPHARMA, INC. reported a default on convertible notes of approximately $1.6 million outstanding under the Note with existing holder (the "Holder").
“to enter into the Amendment, the Company agreed to a partial acceleration payment of approximately $1.08 million in cash from the Note reserve account, leaving approximately $1.6 million outstanding under the Note. However, under the terms of the Forbearance Agreement and the Note, the Extended Forbearance Period was terminated upon the Bankruptcy Filing. Except”
AmeriCrew Inc. reported a default on convertible notes of $2,485,000 at from 8% to 18%.
“As a result of the Agreement, the Note and the Line of Credit and related contemplated thereby, the Company is in default under certain of its outstanding indebtedness totaling $2,485,000 in connection with the Convertible Promissory Notes issued by the Company from October 2021 to October 2022 (the “Prior Notes”). This default results in the acceleration of the indebtedness evidenced by the Prior Notes, and an increase to the interest rate of the Prior Notes from 8% to 18%.”
AmeriCrew Inc. amended credit facility.
“In connection with the Agreement, the Company entered into a Limited Recourse Guaranty (“Guaranty”) with the Lender and Brian Weis, the Company’s President and Chief Operating Officer, pursuant to which Mr. Weis guaranteed the payment of any amounts borrowed by the Company and/or Mikab under the Line of Credit.”
AmeriCrew Inc. incurred revolving credit of $2,000,000 with Thermo Communications Funding, LLC at the lesser of (i) the maximum non-usurious rate permitted by applicable law, and maturing June 9, 2024.
“On June 9, 2023, Americrew Inc. (the “Company”) and Mikab Corporation, a wholly-owned subsidiary of the Company (“Mikab”), entered into a Loan and Security Agreement (the “Agreement”) with Thermo Communications Funding, LLC (the “Lender”) which provides for a $2,000,000 revolving line of credit facility (the “Line of Credit”) to be evidenced by a promissory note (the “Note”).”
Aircastle LTD incurred senior notes of $650 million with Computershare Trust Company, N.A. at 6.500% maturing July 18, 2028.
“On July 18, 2023, Aircastle Limited (the “Company”) issued $650 million aggregate principal amount of the Company’s 6.500% Senior Notes due 2028 (the “Notes”) pursuant to an Indenture, dated as of July 18, 2023 (the “Indenture”), between the Company and Computershare Trust Company, N.A., as trustee for the Notes.”
WORLD ACCEPTANCE CORP amended credit facility of $580 million with Wells Fargo Bank, National Association maturing June 7, 2026.
“The Tenth Amendment amends the Company’s Amended and Restated Revolving Credit Agreement to, among other things: i. Reduce the total commitments under the facility from $685 million to $580 million; ii. Increase the amount available under the accordion feature from $100 million to $150 million (for a total commitment, if the full accordion is borrowed, of $730 million); iii. Extend the maturity to June 7, 2026 (from June 7, 2024); iv. Change the ratio of Net Income Available for Fixed Charges to Fixed Charges from not less than 2.75 to 1 to not less than 2.25 to 1 starting with the fiscal quarter ending March 31, 2024; and v. Replace certain lenders and amend the commitment levels of certain lenders.”
Facts are extracted by an LLM and gated to those whose source quote is present verbatim in the filing text. Coverage is best-effort while backfill and monitoring mature; this is not yet a full-market index. See methodology.