secwatch.observer — SEC 8-K summary
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Issuer:     Party City Holdco Inc. (—)
CIK:        0001592058
Form:       8-K
Filed at:   2023-10-12T23:59:59+00:00
Accession:  0000950142-23-002592
Event type: other_material
Sentiment:  neutral
Materiality: 0.95
Item codes: 1.01, 1.02, 2.03, 3.02, 3.03, 5.01, 5.02, 5.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Party City emerges from Chapter 11; old shares canceled, new equity issued, $545M ABL facility closed
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- Plan effective Oct 12, 2023; old common stock canceled; 13,374,519 new shares issued to secured noteholders.
- Entered $545M ABL revolving facility (plus $17.1M FILO) maturing Oct 2028, with JPMorgan as agent.
- Issued $232.4M of 12% Senior Secured Second Lien PIK Toggle Notes due Jan 2029, with PIK interest option.
- Rights Offering raised $75M for 3.6M new shares and part of PIK notes; backstop commitments in place.
- Prepetition equity holders received no recovery; secured noteholders received 100% of new equity.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1592058/000095014223002592/0000950142-23-002592-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1592058/000095014223002592/eh230409100_8k.htm
  HTML page:      https://secwatch.observer/filing/0000950142-23-002592

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