---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-099695"
form_type: "8-K"
ticker: null
cik: "0001567892"
company_name: "Keenova Therapeutics plc"
filed_at: "2023-09-11T23:59:59+00:00"
generated_at: "2026-06-10T21:41:19.962029+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

# Mallinckrodt enters $250M DIP loan, draws $150M; shares delisted to OTC under MNKTQ

## Summary
- Entered $250M superpriority DIP term loan; initial draw of $150M on Sept 8, 2023; $100M available upon final court order.
- Interest at SOFR + 8% (1% floor); 12% backstop commitment fee paid in kind by increasing DIP loan principal.
- Proceeds fund working capital and corporate purposes per approved budget during Chapter 11 proceedings.
- Ordinary shares delisted from NYSE American on Sept 6, 2023; now trade OTC under symbol MNKTQ.
- DIP matures 12 months post-petition or upon plan effective date, unless converted to new takeback term loans.

## SEC filing metadata
- accession: 0001104659-23-099695
- form_type: 8-K
- cik: 0001567892
- company_name: Keenova Therapeutics plc
- filed_at: 2023-09-11T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1567892/000110465923099695/0001104659-23-099695-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1567892/000110465923099695/tm2325834d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-099695
- JSON: https://secwatch.observer/filing/0001104659-23-099695.json
- Plain text: https://secwatch.observer/filing/0001104659-23-099695.txt

## Key facts
- Debt Financings
  Keenova Therapeutics plc incurred credit facility of $250 million with Acquiom Agency Services LLC and Seaport Loan Products LLC, as co-administrative agents at SOFR plus 8.00% maturing the earliest of: (a) the date that is 12 months after the Petition Date....
  - Instrument: credit facility
  - Principal: $250 million
  - Counterparty: Acquiom Agency Services LLC and Seaport Loan Products LLC, as co-administrative agents
  - Rate: SOFR plus 8.00%
  - Maturity: the earliest of: (a) the date that is 12 months after the Petition Date...
  - Event: incurrence
  source text: On September 8, 2023, the Company, the DIP Borrowers and the other parties thereto entered into the DIP Credit Agreement, which provides the following: · The DIP Lenders will provide a priming, senior secured, super-priority debtor-in-possession term loan facility in the aggregate principal amount (exclusive of capitalized fees) of $250 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1567892/000110465923099695/0001104659-23-099695-index.htm
- Material Agreements
  Keenova Therapeutics plc entered into Senior Secured Debtor-In-Possession Credit Agreement with Acquiom Agency Services LLC and Seaport Loan Products LLC, as co-administrative agents, and Acquiom Agency Services LLC, as collateral agent valued at $250 million (effective 2023-09-08).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Acquiom Agency Services LLC and Seaport Loan Products LLC, as co-administrative agents, and Acquiom Agency Services LLC, as collateral agent
  - Value: $250 million
  - Effective: 2023-09-08
  source text: On September 8, 2023, the Company, the DIP Borrowers and the other parties thereto entered into the DIP Credit Agreement, which provides the following: · The DIP Lenders will provide a priming, senior secured, super-priority debtor-in-possession term loan facility in the aggregate principal amount (exclusive of capitalized fees) of $250 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1567892/000110465923099695/0001104659-23-099695-index.htm

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