secwatch.observer — SEC 8-K summary
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Issuer:     Pinstripes Holdings, Inc. (—)
CIK:        0001852633
Form:       8-K
Filed at:   2024-01-05T23:59:59+00:00
Accession:  0001104659-24-001803
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.90
Item codes: 3.03, 1.01, 2.01, 2.03, 3.02, 5.02, 4.01, 9.01, 5.01, 5.03, 5.05, 5.06, 7.01
LLM model:  deepseek-v4-flash:cloud@v2

Pinstripes completes de-SPAC with Banyan, lists on NYSE as PNST; obtains $50M Oaktree loan
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- Closed merger with Banyan Dec 29; Pinstripes now wholly-owned sub; PNST & PNST WS start Jan 2 on NYSE.
- Post-close: 39.9M Class A, 3.4M each Series B-1/B-2, 4M Series B-3, 24M PNST warrants, 2.5M Oaktree warrants.
- 2.65M shares redeemed at $10.76; $347K left in trust; 23.99M warrants outstanding.
- Secured $50M Oaktree term loan (Tranche 1) due Dec 2028 at 12.5%+7.5%; also borrowed $5M more under Silverview loan.
- CEO Dale Schwartz gets director designation rights based on ownership; registration rights agreement filed.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1852633/000110465924001803/0001104659-24-001803-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1852633/000110465924001803/tm241884d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-001803

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer