secwatch.observer — SEC 8-K summary
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Issuer:     CareMax, Inc. (—)
CIK:        0001813914
Form:       8-K
Filed at:   2024-11-18T23:59:59+00:00
Accession:  0000950170-24-127766
Event type: other_material
Sentiment:  negative
Materiality: 1.00
Item codes: 1.01, 1.03, 2.04, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CareMax files Chapter 11; secures $122M DIP financing; ACO sale to RHG for $10M
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- Chapter 11 filed Nov 17, 2024 in N.D. Texas; company operates as debtor-in-possession.
- DIP facility up to $122M: $12M interim, $18.5M final new money plus $91.5M roll-up; interest SOFR+11%.
- ACO SPA: RHG Network to buy ACO entities for $10M plus 2023/2024 MSSP payments; subject to Bankruptcy Court approval.
- CFO Kevin Wirges granted $250K retention bonus; vests by Mar 15, 2025 or upon restructuring or change in control.
- Company warns equity holders face significant or complete loss; expects delisting of CMAX and CMAXW from Nasdaq.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1813914/000095017024127766/0000950170-24-127766-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1813914/000095017024127766/cmax-20241115.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-127766

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