Alliance Entertainment waives loan defaults, adds minimum EBITDA covenant and $5M-$10M availability block

ALLIANCE ENTERTAINMENT HOLDING CORP

Amendment No. 12 waives defaults for missing Fixed Charge Coverage Ratio for Nov 2022–Feb 2023 and other breaches.
Fixed Charge Coverage covenant suspended; replaced with minimum EBITDA targets (e.g., -$3.8M by Mar 31, 2023).
Waiver fee of $179,882.64 paid; Availability Block of $5M (Apr 19-30) then $10M until compliance.
Inventory sublimit reduced to $90M non-seasonal/$110M seasonal; interest margins set at Level I (Base+2.00% / SOFR+3.00%).
Borrowers released lenders from all claims; company changed name to AENT Corporation in Feb 2023.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

ALLIANCE ENTERTAINMENT HOLDING CORP amended Amendment Number Twelve and Waiver ("Amendment No. 12") with Bank of America, N.A. (the "Agent") (effective 2023-04-21).

Action: amendment
Agreement: credit facility
Counterparty: Bank of America, N.A. (the "Agent")
Effective: 2023-04-21

Exact text from the filing

On April 21, 2023, certain subsidiaries of Alliance Entertainment Holding Corporation, a Delaware corporation (the “Company” or “Alliance”), as Borrowers thereunder (the “Borrowers”), entered into an Amendment Number Twelve and Waiver (“Amendment No. 12”) to the Loan and Security Agreement (the “Credit Facility”) with Bank of America, N.A. (the “Agent”), as agent for the Lenders thereunder.

View on SEC.gov

242 material agreements filed in the last 30 days. Browse all material agreements →

ALLIANCE ENTERTAINMENT HOLDING CORP filing history →

Source: SEC EDGAR

accession 0001104659-23-051347

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.