secwatch.observer — SEC 8-K summary
======================================

Issuer:     KLDiscovery Inc. (—)
CIK:        0001752474
Form:       8-K/A
Filed at:   2024-08-15T23:59:59+00:00
Accession:  0000950170-24-097477
Event type: other_material
Sentiment:  positive
Materiality: 1.00
Item codes: 3.02, 1.01, 1.02, 2.03, 5.03, 5.01, 5.02, 5.07, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

KLDiscovery completes restructuring; debentures exchanged for 96% equity; new $50M loan at 17%
--------------------------------------------------------------------------------

- Convertible debentures exchanged for 96% of fully-diluted common stock; old equity holders diluted to 4%.
- Entered $50M second-lien loan at 17% PIK interest; proceeds used to repay credit facility and transaction costs.
- Term loan maturity extended 18 months to August 2027; rate increased 100 bps; commitment fee 0.75%.
- Board reduced to 7 directors; MGG and OTPP each designate two; CEO Chris Weiler remains; new chair Michael Suchsland.
- New certificate authorizes 2.5B Class A, 1B Class B-1, 1B Class B-2 shares with differentiated voting rights.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1752474/000095017024097477/0000950170-24-097477-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1752474/000095017024097477/kldi-20240815.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-097477

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