secwatch.observer — SEC 8-K summary
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Issuer:     Keenova Therapeutics plc (—)
CIK:        0001567892
Form:       8-K
Filed at:   2023-09-11T23:59:59+00:00
Accession:  0001104659-23-099695
Event type: debt
Sentiment:  negative
Materiality: 1.00
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1567892/000110465923099695/0001104659-23-099695-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1567892/000110465923099695/tm2325834d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-099695

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