secwatch.observer — SEC 8-K summary
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Issuer:     Keenova Therapeutics plc (—)
CIK:        0001567892
Form:       8-K
Filed at:   2023-07-17T23:59:59+00:00
Accession:  0001104659-23-081484
Event type: other_material
Sentiment:  negative
Materiality: 0.80
Item codes: 1.01, 8.01, 2.03, 2.04, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Mallinckrodt enters forbearance on missed interest; $200M opioid payment extended to Aug 15
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- Missed June 15 interest payments on 11.5% 2028 First Lien Notes and 10% 2029 Second Lien Notes triggered defaults.
- Forbearance agreements signed July 16 with >75% of first-lien and majority of second-lien holders, plus lenders, through Aug 15.
- Borrowed $100M under ABL credit facility on July 13; ABL margin increased 1% and availability capped at $100M.
- Opioid Trust extended $200M deferred payment from July 21 to Aug 15; $450M already paid in June 2022.
- Board has not determined ultimate path, including possible filing under U.S. Bankruptcy Code.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1567892/000110465923081484/0001104659-23-081484-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1567892/000110465923081484/tm2321318d3_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-081484

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