secwatch.observer — SEC 8-K summary
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Issuer:     INVACARE HOLDINGS Corp (—)
CIK:        0000742112
Form:       8-K
Filed at:   2023-02-01T23:59:59+00:00
Accession:  0000742112-23-000008
Event type: other_material
Sentiment:  negative
Materiality: 1.00
Item codes: 1.01, 1.03, 1.02, 2.01, 2.02, 2.03, 2.04, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Invacare files Chapter 11; common stock cancelled; sells respiratory business for $11.9M
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- Filed Chapter 11 on Jan 31, 2023; restructuring support agreement with majority of debt holders to implement plan.
- DIP financing: $70M term loan ($35M roll-up) and $17.4M revolver to fund operations during Chapter 11.
- Common shares to be cancelled without distribution; holders receive nothing. Unsecured note holders get rights offering and new equity.
- Completed sale of respiratory assets to Ventec Life Systems for $11.9M cash; net proceeds ~$11.5M.
- Terminated Birlasoft IT services agreement due to breach; also sold Top End wheelchair business on Jan 27.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/742112/000074211223000008/0000742112-23-000008-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/742112/000074211223000008/ivc-20230127.htm
  HTML page:      https://secwatch.observer/filing/0000742112-23-000008

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