---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-081435"
form_type: "8-K"
ticker: null
cik: "0001839412"
company_name: "QualTek Services Inc."
filed_at: "2023-07-17T23:59:59+00:00"
generated_at: "2026-06-13T07:52:53.439474+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

# QualTek emerges from Chapter 11; old equity cancelled, new board and $126M exit financing

## Summary
- Debt reduced by ~$307M; exit financing includes $101M ABL revolver and $25M new money term loans.
- All existing equity cancelled; new equity issued to prepetition lenders and warrants at $19.16 exercise price to noteholders.
- New board: Scott Hisey (CEO) plus Directors Todd Clegg, Daniel Lafond, Emanuel Pearlman; fifth member TBD.
- Company to deregister securities and suspend SEC reporting obligations via Form 15.
- Convertible notes and prepetition loan agreements cancelled; DIP facilities repaid on emergence.

## SEC filing metadata
- accession: 0001104659-23-081435
- form_type: 8-K
- cik: 0001839412
- company_name: QualTek Services Inc.
- filed_at: 2023-07-17T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 1.01, 1.02, 1.03, 2.03, 3.02, 3.03, 5.01, 5.02, 5.03, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1839412/000110465923081435/0001104659-23-081435-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1839412/000110465923081435/tm2321319d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-081435
- JSON: https://secwatch.observer/filing/0001104659-23-081435.json
- Plain text: https://secwatch.observer/filing/0001104659-23-081435.txt

## Key facts
- Debt Financings
  QualTek Services Inc. incurred revolving credit of $101,200,000 of new money revolving commitments with PNC Bank, National Association and the lenders party thereto at Bloomberg Short-Term Bank Yield Index rate (subject to reserve requirements) plu maturing mature on the first anniversary of the Effective Date.
  - Instrument: revolving credit
  - Principal: $101,200,000 of new money revolving commitments
  - Counterparty: PNC Bank, National Association and the lenders party thereto
  - Rate: Bloomberg Short-Term Bank Yield Index rate (subject to reserve requirements) plu
  - Maturity: mature on the first anniversary of the Effective Date
  - Event: incurrence
  source text: a senior secured ABL Credit and Guaranty Agreement by and among the Loan Parties, PNC Bank, National Association and the lenders party thereto (the “Exit ABL Credit Agreement”) consisting of $101,200,000 of new money revolving commitments
  evidence_url: https://www.sec.gov/Archives/edgar/data/1839412/000110465923081435/0001104659-23-081435-index.htm
- Debt Financings
  QualTek Services Inc. incurred term loan of second lien term loans in an aggregate principal amount of $104,961,023.20 with UMB Bank, N.A. and the lenders party thereto at term SOFR (SOFR floor of 1.00%) plus 1.00% (with the portion of the interest und maturing mature on the date that is three years and six months after the Effective Date.
  - Instrument: term loan
  - Principal: second lien term loans in an aggregate principal amount of $104,961,023.20
  - Counterparty: UMB Bank, N.A. and the lenders party thereto
  - Rate: term SOFR (SOFR floor of 1.00%) plus 1.00% (with the portion of the interest und
  - Maturity: mature on the date that is three years and six months after the Effective Date
  - Event: incurrence
  source text: a Second Lien Credit Agreement by and among the Loan Parties, UMB Bank, N.A. and the lenders party thereto (the “Exit Second Lien Term Loan Credit Agreement”) consisting of second lien term loans in an aggregate principal amount of $104,961,023.20
  evidence_url: https://www.sec.gov/Archives/edgar/data/1839412/000110465923081435/0001104659-23-081435-index.htm
- Debt Financings
  QualTek Services Inc. incurred term loan of an aggregate principal amount of $135,047,073.75 consisting of (x) $25,000,000 of new money first lien term loans and (y with UMB Bank, N.A. and the lenders party thereto at term SOFR (SOFR floor of 1.00%) plus 8.00% maturing mature on the second anniversary of the Effective Date.
  - Instrument: term loan
  - Principal: an aggregate principal amount of $135,047,073.75 consisting of (x) $25,000,000 of new money first lien term loans and (y
  - Counterparty: UMB Bank, N.A. and the lenders party thereto
  - Rate: term SOFR (SOFR floor of 1.00%) plus 8.00%
  - Maturity: mature on the second anniversary of the Effective Date
  - Event: incurrence
  source text: a first lien Term Credit and Guaranty Agreement by and among the Loan Parties, UMB Bank, N.A. and the lenders party thereto (the “Exit First Lien Term Loan Credit Agreement”) in an aggregate principal amount of $135,047,073.75 consisting of (x) $25,000,000 of new money first lien term loans and (y) first lien term loans in an aggregate principal amount of $110,047,073.75, converted from the Debtors’ outstanding DIP term loans
  evidence_url: https://www.sec.gov/Archives/edgar/data/1839412/000110465923081435/0001104659-23-081435-index.htm
- Debt Financings
  QualTek Services Inc. incurred term loan of third lien term loans in an aggregate principal amount of $127,653.99 with UMB Bank, N.A. and the lenders party thereto at term SOFR, plus 1% (all payable in kind) maturing mature on the seventh anniversary of the Effective Date.
  - Instrument: term loan
  - Principal: third lien term loans in an aggregate principal amount of $127,653.99
  - Counterparty: UMB Bank, N.A. and the lenders party thereto
  - Rate: term SOFR, plus 1% (all payable in kind)
  - Maturity: mature on the seventh anniversary of the Effective Date
  - Event: incurrence
  source text: a Third Lien Credit Agreement by and among the Loan Parties, UMB Bank, N.A. and the lenders party thereto (the “Exit Third Lien Term Loan Credit Agreement”) consisting of third lien term loans in an aggregate principal amount of $127,653.99
  evidence_url: https://www.sec.gov/Archives/edgar/data/1839412/000110465923081435/0001104659-23-081435-index.htm
- Distress & Bankruptcy
  QualTek Services Inc. entered chapter 11 (petition 2023-07-14).
  - Proceeding: chapter 11
  - Petition: 2023-07-14
  source text: On July 14, 2023, the Debtors filed a Notice of (I) Entry of Order Approving the Debtors’ Disclosure Statement for, and Confirming, the Debtors’ Joint Plan of Reorganization Pursuant to Chapter 11 of the Bankruptcy Code, and (II) Occurrence of the Plan Effective Date [Docket No. 248].
  evidence_url: https://www.sec.gov/Archives/edgar/data/1839412/000110465923081435/0001104659-23-081435-index.htm
- Executive change
  Todd Clegg was appointed as Director at QualTek Services Inc..
  - Action: designated as a member of the board
  - Role: Director
  source text: Christopher S. Hisey, Todd Clegg, Daniel Lafond, and Emanuel Pearlman were designated as members of the board of directors of the Reorganized Company (the “Board of Directors”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1839412/000110465923081435/0001104659-23-081435-index.htm
- Executive change
  John Kritzmacher departed as Director at QualTek Services Inc..
  - Action: ceased to be a director
  - Role: Director
  source text: Andrew Weinberg, Matthew Allard, Bruce Roberson, John Kritzmacher, Cielo Hernandez and Alan Carr ceased to be directors of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1839412/000110465923081435/0001104659-23-081435-index.htm
- Executive change
  Andrew Weinberg departed as Director at QualTek Services Inc..
  - Action: ceased to be a director
  - Role: Director
  source text: Andrew Weinberg, Matthew Allard, Bruce Roberson, John Kritzmacher, Cielo Hernandez and Alan Carr ceased to be directors of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1839412/000110465923081435/0001104659-23-081435-index.htm
- Executive change
  Emanuel Pearlman was appointed as Director at QualTek Services Inc..
  - Action: designated as a member of the board
  - Role: Director
  source text: Christopher S. Hisey, Todd Clegg, Daniel Lafond, and Emanuel Pearlman were designated as members of the board of directors of the Reorganized Company (the “Board of Directors”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1839412/000110465923081435/0001104659-23-081435-index.htm
- Executive change
  Daniel Lafond was appointed as Director at QualTek Services Inc..
  - Action: designated as a member of the board
  - Role: Director
  source text: Christopher S. Hisey, Todd Clegg, Daniel Lafond, and Emanuel Pearlman were designated as members of the board of directors of the Reorganized Company (the “Board of Directors”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1839412/000110465923081435/0001104659-23-081435-index.htm
- Executive change
  Bruce Roberson departed as Director at QualTek Services Inc..
  - Action: ceased to be a director
  - Role: Director
  source text: Andrew Weinberg, Matthew Allard, Bruce Roberson, John Kritzmacher, Cielo Hernandez and Alan Carr ceased to be directors of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1839412/000110465923081435/0001104659-23-081435-index.htm
- Executive change
  Alan Carr departed as Director at QualTek Services Inc..
  - Action: ceased to be a director
  - Role: Director
  source text: Andrew Weinberg, Matthew Allard, Bruce Roberson, John Kritzmacher, Cielo Hernandez and Alan Carr ceased to be directors of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1839412/000110465923081435/0001104659-23-081435-index.htm
- Executive change
  Matthew Allard departed as Director at QualTek Services Inc..
  - Action: ceased to be a director
  - Role: Director
  source text: Andrew Weinberg, Matthew Allard, Bruce Roberson, John Kritzmacher, Cielo Hernandez and Alan Carr ceased to be directors of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1839412/000110465923081435/0001104659-23-081435-index.htm
- Executive change
  Cielo Hernandez departed as Director at QualTek Services Inc..
  - Action: ceased to be a director
  - Role: Director
  source text: Andrew Weinberg, Matthew Allard, Bruce Roberson, John Kritzmacher, Cielo Hernandez and Alan Carr ceased to be directors of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1839412/000110465923081435/0001104659-23-081435-index.htm
- Executive change
  Christopher S. Hisey was appointed as Director at QualTek Services Inc..
  - Action: designated as a member of the board
  - Role: Director
  source text: Christopher S. Hisey, Todd Clegg, Daniel Lafond, and Emanuel Pearlman were designated as members of the board of directors of the Reorganized Company (the “Board of Directors”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1839412/000110465923081435/0001104659-23-081435-index.htm
- Governance Changes
  QualTek Services Inc.: Adopted new Organizational Documents (including articles of incorporation and bylaws) upon emergence from Chapter 11.
  - Change: charter amendment
  source text: On the Effective Date, in connection with the Reorganized Debtors’ implementation of the Plan, the Reorganized Debtors adopted their New Organizational Documents (each as defined in the Confirmation Order).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1839412/000110465923081435/0001104659-23-081435-index.htm
- M&A Transactions
  QualTek Services Inc. underwent a change of control (closed 2023-07-14).
  - Action: change of control
  - Closing: 2023-07-14
  source text: On the Effective Date, pursuant to the Plan, all existing equity interests of the Company issued and outstanding immediately prior to the Effective Date, and any rights of any holder in respect thereof, were deemed cancelled, released and extinguished and are now of no further force or effect. As described in Item 3.02, on the Effective Date, pursuant to the Plan, the Reorganized Company issued the New Equity Interests and the New Warrants.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1839412/000110465923081435/0001104659-23-081435-index.htm
- Material Agreements
  QualTek Services Inc. entered into Exit ABL Credit Agreement with PNC Bank, National Association and the lenders party thereto valued at $101,200,000.
  - Action: entry
  - Agreement: credit facility
  - Counterparty: PNC Bank, National Association and the lenders party thereto
  - Value: $101,200,000
  source text: a senior secured ABL Credit and Guaranty Agreement by and among the Loan Parties, PNC Bank, National Association and the lenders party thereto (the “Exit ABL Credit Agreement”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1839412/000110465923081435/0001104659-23-081435-index.htm
- Material Agreements
  QualTek Services Inc. entered into Exit Third Lien Term Loan Credit Agreement with UMB Bank, N.A. and the lenders party thereto valued at $127,653.99.
  - Action: entry
  - Agreement: credit facility
  - Counterparty: UMB Bank, N.A. and the lenders party thereto
  - Value: $127,653.99
  source text: a Third Lien Credit Agreement by and among the Loan Parties, UMB Bank, N.A. and the lenders party thereto (the “Exit Third Lien Term Loan Credit Agreement”) consisting of third lien term loans in an aggregate principal amount of $127,653.99
  evidence_url: https://www.sec.gov/Archives/edgar/data/1839412/000110465923081435/0001104659-23-081435-index.htm
- Material Agreements
  QualTek Services Inc. terminated Convertible Notes Indenture with Wilmington Trust, National Association.
  - Action: termination
  - Agreement: notes offering
  - Counterparty: Wilmington Trust, National Association
  source text: the obligations of the Debtors under the indenture, dated as of February 14, 2022, by and among the Company, the guarantors party thereto and Wilmington Trust, National Association, as trustee (as amended, the “Convertible Notes Indenture”), were cancelled.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1839412/000110465923081435/0001104659-23-081435-index.htm
- Material Agreements
  QualTek Services Inc. entered into Exit Second Lien Term Loan Credit Agreement with UMB Bank, N.A. and the lenders party thereto valued at $104,961,023.20.
  - Action: entry
  - Agreement: credit facility
  - Counterparty: UMB Bank, N.A. and the lenders party thereto
  - Value: $104,961,023.20
  source text: a Second Lien Credit Agreement by and among the Loan Parties, UMB Bank, N.A. and the lenders party thereto (the “Exit Second Lien Term Loan Credit Agreement”) consisting of second lien term loans in an aggregate principal amount of $104,961,023.20
  evidence_url: https://www.sec.gov/Archives/edgar/data/1839412/000110465923081435/0001104659-23-081435-index.htm
- Material Agreements
  QualTek Services Inc. entered into Exit First Lien Term Loan Credit Agreement with UMB Bank, N.A. and the lenders party thereto valued at $135,047,073.75.
  - Action: entry
  - Agreement: credit facility
  - Counterparty: UMB Bank, N.A. and the lenders party thereto
  - Value: $135,047,073.75
  source text: a first lien Term Credit and Guaranty Agreement by and among the Loan Parties, UMB Bank, N.A. and the lenders party thereto (the “Exit First Lien Term Loan Credit Agreement”) in an aggregate principal amount of $135,047,073.75
  evidence_url: https://www.sec.gov/Archives/edgar/data/1839412/000110465923081435/0001104659-23-081435-index.htm

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