{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-23-079701","form_type":"8-K","ticker":null,"cik":"0000870826","company_name":"Legacy IMBDS, Inc.","filed_at":"2023-07-10T23:59:59+00:00","discovered_at":"2026-05-14T18:03:36.829747+00:00","generated_at":"2026-06-13T10:49:22.059508+00:00","sec_items":["1.01","2.03","7.01","9.01"],"event_type":"m_and_a","sentiment":"negative","materiality_score":0.9,"calibrated_materiality_score":0.9,"confidence":"high","headline":"iMedia Brands to sell substantially all assets to RNN for ~$50M via Chapter 11 process","bullets":["Sale includes ShopHQ, 1-2-3.tv, iMDS, J.W. Hulme, and Christopher & Banks brands.","Approximately $50M transaction value plus assumption of certain liabilities.","Transaction subject to higher or better offers; expected to close in August 2023 pending court approval.","Debtor-in-possession financing of $15M approved to support operations during sale process.","Company suspends earnings calls; warns trading in common stock is highly speculative."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-23-079701","json":"https://secwatch.observer/filing/0001104659-23-079701.json","markdown":"https://secwatch.observer/filing/0001104659-23-079701.md","text":"https://secwatch.observer/filing/0001104659-23-079701.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/870826/000110465923079701/0001104659-23-079701-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/870826/000110465923079701/tm2320697d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-13T10:49:22.059508+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"64765a41c5bf5ad67630b45b2366bc33a7dbadea","claim":"Legacy IMBDS, Inc. incurred credit facility of maximum loan amount of (a) $31,947,305.40 prior to closing the Sale Transaction, and (b) $34,947,305.40 on consummation with Siena Lending Group LLC and the other parties thereto as lenders.","evidence_excerpt":"On July 6, 2023, the Company and Siena Lending Group LLC and the other parties thereto as lenders (collectively, the \"DIP Lenders\") entered into a senior secured super-priority debtor-in-possession credit facility in a maximum loan amount of (a) $31,947,305.40 prior to closing the Sale Transaction, and (b) $34,947,305.40 on consummation of the Sale Transaction, in each case subject to the terms and conditions set forth therein (the \"DIP Financing Agreement\").","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/870826/000110465923079701/0001104659-23-079701-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Principal","value":"maximum loan amount of (a) $31,947,305.40 prior to closing the Sale Transaction, and (b) $34,947,305.40 on consummation"},{"label":"Counterparty","value":"Siena Lending Group LLC and the other parties thereto as lenders"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"7b6501ceaece796caa896dd4aa91fa234177f4c7","claim":"Legacy IMBDS, Inc. entered into Purchase Agreement with RNN-TV Licensing Co. LLC (effective 2023-07-03).","evidence_excerpt":"On July 3, 2023, iMedia Brands, Inc. (the “Company”) and certain of its subsidiaries (together with the Company, collectively, the “Sellers”) entered into an Asset and Equity Purchase Agreement (the “Purchase Agreement”) with RNN-TV Licensing Co. LLC (“Buyer”)","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/870826/000110465923079701/0001104659-23-079701-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"asset purchase"},{"label":"Counterparty","value":"RNN-TV Licensing Co. LLC"},{"label":"Effective","value":"2023-07-03"}],"fact_type":"material_agreement"},{"claim_id":"82a6d18a9f1b759aa33e4398e6ca576875d192f5","claim":"Legacy IMBDS, Inc. entered into DIP Financing Agreement with Siena Lending Group LLC and the other parties thereto as lenders valued at maximum loan amount of (a) $31,947,305.40 prior to closing the Sale Transaction, and (b) $34,947,305 (effective 2023-07-06).","evidence_excerpt":"On July 6, 2023, the Company and Siena Lending Group LLC and the other parties thereto as lenders (collectively, the “DIP Lenders”) entered into a senior secured super-priority debtor-in-possession credit facility in a maximum loan amount of (a) $31,947,305.40 prior to closing the Sale Transaction, and (b) $34,947,305.40 on consummation of the Sale Transaction","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/870826/000110465923079701/0001104659-23-079701-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Siena Lending Group LLC and the other parties thereto as lenders"},{"label":"Value","value":"maximum loan amount of (a) $31,947,305.40 prior to closing the Sale Transaction, and (b) $34,947,305"},{"label":"Effective","value":"2023-07-06"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}