secwatch.observer — SEC 8-K summary
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Issuer:     INVACARE HOLDINGS Corp (—)
CIK:        0000742112
Form:       8-K12G3
Filed at:   2023-05-08T23:59:59+00:00
Accession:  0000742112-23-000071
Event type: other_material
Sentiment:  positive
Materiality: 1.00
Item codes: 1.01, 5.03, 1.02, 2.03, 3.02, 3.03, 5.01, 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Invacare emerges from Chapter 11 with $85M Highbridge loan, $40M ABL, and $46.5M convertible notes
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- Effective May 5, 2023; old equity canceled; new common shares issued to backstop parties (6,973,654 shares) and others (9,999,980 common, 6,750,011 convertible preferred).
- New $85M Highbridge Loan (SOFR+8%) matures 2027; $40M White Oak ABL facility (SOFR+5%) matures 2026.
- Issued $25.739M Tranche I and $20.736M Tranche II 7.5% Convertible Senior Secured Notes due 2028; conversion price $1.72/share.
- Old Invacare's prepetition debt ($232.9M+ in convertible notes) and all equity canceled; no value for prior holders.
- New board appointed: Marec Edgar, Abraham Han, Peter Kuipers, Kimberly Lody, Randel Owen; Crawford, Danielsohn-Weil, Gibeley, Merriman, Nastas, Schwartz departed.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/742112/000074211223000071/0000742112-23-000071-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/742112/000074211223000071/ivc-20230505.htm
  HTML page:      https://secwatch.observer/filing/0000742112-23-000071

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer