---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-040563"
form_type: "8-K"
ticker: null
cik: "0001821850"
company_name: "Sunlight Financial Holdings Inc."
filed_at: "2023-04-03T23:59:59+00:00"
generated_at: "2026-06-17T07:13:23.184441+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Sunlight Financial secures $100M Cross River loan, faces NYSE delisting notices

## Summary
- Cross River Bank commits $88.6M secured term loan (Tranche 1 $38.8M, Tranche 2 $49.8M) and increases loan cap to $650M.
- Company to issue warrants for 19.9% of common stock to Cross River at $0.01/share, vesting monthly after closing.
- NYSE notifies Sunlight of non-compliance for minimum avg closing price below $1 over 30 days and late 10-K filing.
- Company expects to file 2022 10-K in first half of April and regain NYSE compliance within cure period.
- Going concern doubts raised if transactions not completed; recurring losses and negative cash flows.

## SEC filing metadata
- accession: 0001104659-23-040563
- form_type: 8-K
- cik: 0001821850
- company_name: Sunlight Financial Holdings Inc.
- filed_at: 2023-04-03T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 3.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1821850/000110465923040563/0001104659-23-040563-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1821850/000110465923040563/tm2311229d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-040563
- JSON: https://secwatch.observer/filing/0001104659-23-040563.json
- Plain text: https://secwatch.observer/filing/0001104659-23-040563.txt

## Key facts
- Listing & Compliance Notices
  Sunlight Financial Holdings Inc. received a nyse noncompliance notice notice regarding minimum bid price (rules 802.01C).
  - Exchange: nyse
  - Notice: noncompliance notice
  - Deficiency: minimum bid price
  - Rules: 802.01C
  source text: March 31, 2023, the Company was notified by the New York Stock Exchange (“NYSE”) that the Company is not in compliance with the continued listing standard contained in Rule 802.01C of the NYSE’s Listed Company Manual (“Rule 802.01C”) relating to the minimum average closing price of the Common Stock, required over a consecutive 30 trading-day period. The notice does not result in the immediate delisting of the Company’s Common Stock from the NYSE. The Company intends to notify the NYSE within 10 business days of its intent to regain compliance with Rule 802.01C. The Company expects to regain co
  evidence_url: https://www.sec.gov/Archives/edgar/data/1821850/000110465923040563/0001104659-23-040563-index.htm
- Listing & Compliance Notices
  Sunlight Financial Holdings Inc. received a nyse noncompliance notice notice regarding late filing (rules 802.01E).
  - Exchange: nyse
  - Notice: noncompliance notice
  - Deficiency: late filing
  - Rules: 802.01E
  source text: April 3, 2023 the Company was notified by NYSE that it is not in compliance with Section 802.01E of the NYSE Listed Company Manual, which requires that NYSE-listed companies timely file all periodic reports with the SEC. Sunlight is currently finalizing the 10-K to incorporate recent developments, including the Commitment & Transaction Support Agreement, and expects to file the 10-K with the SEC in the first half of April 2023, significantly prior to the end of the six-month cure period to file the 10-K as provided by Section 802.01E of the NYSE Listed Company Manual. During this time, the Com
  evidence_url: https://www.sec.gov/Archives/edgar/data/1821850/000110465923040563/0001104659-23-040563-index.htm
- Material Agreements
  Sunlight Financial Holdings Inc. entered into Commitment & Transaction Support Agreement with Cross River Bank (effective 2023-04-02).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Cross River Bank
  - Effective: 2023-04-02
  source text: On April 2, 2023 Sunlight Financial LLC (“Sunlight”), a wholly owned subsidiary of Sunlight Financial Holdings Inc. (the “Company”), the Company and Cross River Bank (“the Bank Partner”), entered into a Commitment and Transaction Support Agreement (the “Commitment & Transaction Support Agreement “) pursuant to which the parties have agreed to undertake the transactions contemplated under the Commitment & Transaction Support Agreement
  evidence_url: https://www.sec.gov/Archives/edgar/data/1821850/000110465923040563/0001104659-23-040563-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.