secwatch.observer — SEC 8-K summary
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Issuer:     ALLIANCE ENTERTAINMENT HOLDING CORP (AENT)
CIK:        0001823584
Form:       8-K
Filed at:   2023-04-27T23:59:59+00:00
Accession:  0001104659-23-051347
Event type: debt
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1823584/000110465923051347/0001104659-23-051347-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1823584/000110465923051347/tm2313592d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-051347

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