--- schema_version: "secwatch.filing_event.v1" accession: "0001104659-23-109413" form_type: "8-K/A" ticker: null cik: "0000084129" company_name: "RITE AID CORP" filed_at: "2023-10-16T23:59:59+00:00" generated_at: "2026-06-09T23:42:18.172979+00:00" event_type: "other_material" sentiment: "negative" materiality_score: 1.0 calibrated_materiality_score: 1.0 confidence: "high" source: SEC EDGAR --- # Rite Aid files Chapter 11 bankruptcy; secures $3.45B DIP financing; plans debt-for-equity restructuring ## Summary - Rite Aid and certain subsidiaries filed Chapter 11 on Oct 15, 2023; will continue operations as debtors-in-possession under Bankruptcy Court. - Reached restructuring agreement with senior secured noteholders: debt-for-equity swap; existing equity interests to be canceled. - Secured $3.45B DIP financing ($3.25B ABL + $200M term loan) with interest rates at SOFR+3.25% (ABL) and SOFR+7.50% (term loan); matures 12 months from closing. - Signed stalking horse APA to sell Elixir assets to MedImpact for $575M; auction process if higher bids received by Nov 16, 2023. ## SEC filing metadata - accession: 0001104659-23-109413 - form_type: 8-K/A - cik: 0000084129 - company_name: RITE AID CORP - filed_at: 2023-10-16T23:59:59+00:00 - event_type: other_material - sentiment: negative - materiality_score: 1.0 - calibrated_materiality_score: 1.0 - confidence: high - sec_items: 1.01, 1.03, 2.04, 7.01, 8.01, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/84129/000110465923109413/0001104659-23-109413-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/84129/000110465923109413/tm2328535d1_8ka.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001104659-23-109413 - JSON: https://secwatch.observer/filing/0001104659-23-109413.json - Plain text: https://secwatch.observer/filing/0001104659-23-109413.txt ## Key facts - Debt Financings RITE AID CORP reported a default on senior notes of 6.875% Notes due 2028 with Harris Trust and Savings Bank, as trustee at 6.875% maturing 2028. - Instrument: senior notes - Principal: 6.875% Notes due 2028 - Counterparty: Harris Trust and Savings Bank, as trustee - Rate: 6.875% - Maturity: 2028 - Event: default source text: Indenture, dated as of December 21, 1998, between Rite Aid Corporation, as issuer, and Harris Trust and Savings Bank, as trustee, related to the Company’s 6.875% Notes due 2028; evidence_url: https://www.sec.gov/Archives/edgar/data/84129/000110465923109413/0001104659-23-109413-index.htm - Debt Financings RITE AID CORP reported a default on senior notes of 8.000% Senior Secured Notes due 2026 with The Bank of New York Mellon Trust Company, N.A. at 8.000% maturing 2026. - Instrument: senior notes - Principal: 8.000% Senior Secured Notes due 2026 - Counterparty: The Bank of New York Mellon Trust Company, N.A. - Rate: 8.000% - Maturity: 2026 - Event: default source text: Indenture, dated as of July 27, 2020, among Rite Aid Corporation, the subsidiary guarantors named therein and The Bank of New York Mellon Trust Company, N.A., related to the Company’s 8.000% Senior Secured Notes due 2026; evidence_url: https://www.sec.gov/Archives/edgar/data/84129/000110465923109413/0001104659-23-109413-index.htm - Debt Financings RITE AID CORP reported a default on senior notes of 7.500% Senior Secured Notes due 2025 with The Bank of New York Mellon Trust Company, N.A. at 7.500% maturing 2025. - Instrument: senior notes - Principal: 7.500% Senior Secured Notes due 2025 - Counterparty: The Bank of New York Mellon Trust Company, N.A. - Rate: 7.500% - Maturity: 2025 - Event: default source text: Indenture, dated as of February 5, 2020, among Rite Aid Corporation, the subsidiary guarantors named therein and The Bank of New York Mellon Trust Company, N.A., related to the Company’s 7.500% Senior Secured Notes due 2025; evidence_url: https://www.sec.gov/Archives/edgar/data/84129/000110465923109413/0001104659-23-109413-index.htm - Debt Financings RITE AID CORP reported a default on senior notes of 7.70% Notes due 2027 with Morgan Guaranty Trust Company of New York, as trustee at 7.70% maturing 2027. - Instrument: senior notes - Principal: 7.70% Notes due 2027 - Counterparty: Morgan Guaranty Trust Company of New York, as trustee - Rate: 7.70% - Maturity: 2027 - Event: default source text: Indenture, dated as of August 1, 1993, between Rite Aid Corporation, as issuer, and Morgan Guaranty Trust Company of New York, as trustee, related to the Company’s 7.70% Notes due 2027; evidence_url: https://www.sec.gov/Archives/edgar/data/84129/000110465923109413/0001104659-23-109413-index.htm - Distress & Bankruptcy RITE AID CORP entered chapter 11 in United States Bankruptcy Court for the District of New Jersey (petition 2023-10-15). - Proceeding: chapter 11 - Court: United States Bankruptcy Court for the District of New Jersey - Petition: 2023-10-15 source text: On October 15, 2023 (the “ Petition Date ”), Rite Aid Corporation (“ Rite Aid ” or the “ Company ”) and certain of its direct and indirect subsidiaries (together with the Company, the “ Debtors ”) filed voluntary petitions to commence proceedings under chapter 11 (the “ Chapter 11 Cases ”) of title 11 of the United States Code (the “ Bankruptcy Code ”) in the United States Bankruptcy Court for the District of New Jersey (the “ Bankruptcy Court ”). evidence_url: https://www.sec.gov/Archives/edgar/data/84129/000110465923109413/0001104659-23-109413-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.