{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-23-112707","form_type":"8-K","ticker":null,"cik":"0001821850","company_name":"Sunlight Financial Holdings Inc.","filed_at":"2023-10-31T23:59:59+00:00","discovered_at":"2026-05-14T18:03:30.729934+00:00","generated_at":"2026-06-09T04:54:05.738622+00:00","sec_items":["1.01","1.03","2.03","2.04","7.01","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.9,"calibrated_materiality_score":0.9,"confidence":"high","headline":"Sunlight Financial files Chapter 11, agrees to $15M investment from ED Umbrella for 87.5% of new equity","bullets":["Filed Chapter 11 in Delaware on Oct 30; prepackaged plan supported by ED Umbrella Holdings (Greenbacker, IGS).","Plan Sponsor invests $15M for 87.5% of new equity; CRB receives 12.5% and provides $20M exit financing.","CRB backstops $10M at 10% interest; $4.4M additional advance from collateral account allowed for operations.","Total $109.9M outstanding under CRB agreements; default accelerated but stayed by Chapter 11 filing.","Tax Receivables Agreement terminated; Recharacterization Notice reclassifies certain loans as retained."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-23-112707","json":"https://secwatch.observer/filing/0001104659-23-112707.json","markdown":"https://secwatch.observer/filing/0001104659-23-112707.md","text":"https://secwatch.observer/filing/0001104659-23-112707.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1821850/000110465923112707/0001104659-23-112707-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1821850/000110465923112707/tm2329469d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-09T04:54:05.738622+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"4a816cfad39d6f40a9c171601429ef5363e161bc","claim":"Sunlight Financial Holdings Inc. faced acceleration on credit facility of approximately $109.9 million with CRB.","evidence_excerpt":"Improvement Loan Sale Agreement, dated as of April 25, 2023, by and between CRB and Sunlight Financial LLC. 7 As of the date of this filing, the Company has approximately $109.9 million outstanding under the CRB Agreements.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1821850/000110465923112707/0001104659-23-112707-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Principal","value":"approximately $109.9 million"},{"label":"Counterparty","value":"CRB"},{"label":"Event","value":"acceleration"}],"fact_type":"debt_financing"},{"claim_id":"cee302a6efef0cb499e55cb3a2c16bd1452a547e","claim":"Sunlight Financial Holdings Inc. entered chapter 11 in United States Bankruptcy Court for the District of Delaware (petition 2023-10-30).","evidence_excerpt":"On October 30, 2023 , Sunlight Financial Holdings Inc. (the “ Company ”) and each of its wholly owned subsidiaries","evidence_source":"SEC 8-K Item 1.03","evidence_url":"https://www.sec.gov/Archives/edgar/data/1821850/000110465923112707/0001104659-23-112707-index.htm","confidence":1.0,"family_label":"Distress & Bankruptcy","details":[{"label":"Proceeding","value":"chapter 11"},{"label":"Court","value":"United States Bankruptcy Court for the District of Delaware"},{"label":"Petition","value":"2023-10-30"}],"fact_type":"distress_event"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}