Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
ProSomnus, Inc. incurred credit facility of $13 million with Wilmington Savings Fund Society, F.S.B., as administrative agent and collateral agent maturing November 7, 2024.
- Instrument
- credit facility
- Principal
- $13 million
- Counterparty
- Wilmington Savings Fund Society, F.S.B., as administrative agent and collateral agent
- Maturity
- November 7, 2024
- Event
- incurrence
Exact text from the filing
the DIP Lenders have agreed, upon the terms and conditions set forth therein, including the approval of the Court, to make available to the Company a senior subordinate secured debtor-in-possession term loan credit facility in the aggregate principal amount of $13 million
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
ProSomnus, Inc. faced acceleration on senior notes of $41,669,228.
- Instrument
- senior notes
- Principal
- $41,669,228
- Event
- acceleration
Exact text from the filing
the principal and interest due under the Indentures shall automatically become due and payable. The outstanding principal about due under the Indentures is, in the aggregate, $41,669,228, and the outstanding interest as of May 7, 2024 is $856,254. Any efforts to enforce such payment obligations under the Indentures are automatically stayed as a result of the
View on SEC.gov
Distress & Bankruptcy
SEC 8-K Item 1.03
confidence 0.99
ProSomnus, Inc. entered chapter 11 in United States Bankruptcy Court for the District of Delaware.
- Proceeding
- chapter 11
- Court
- United States Bankruptcy Court for the District of Delaware
Exact text from the filing
On May 7 , 2024, the Company Parties filed voluntary petitions for relief under chapter 11 of title 11 of the Code (the "Petitions") in the Court to pursue the Plan.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
ProSomnus, Inc. entered into Restructuring Support Agreement with Sponsoring Noteholders valued at $20.0 million (effective 2024-05-07).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Sponsoring Noteholders
- Value
- $20.0 million
- Effective
- 2024-05-07
Exact text from the filing
On May 7, 2024, ProSomnus, Inc. (the “Company”) voluntarily entered into a Restructuring Support Agreement (including all exhibits thereto, collectively, the “RSA”) with (i) certain of its existing affiliates and subsidiaries (as set forth in the RSA, and together with the Company, the “Company Parties”); and (ii) certain sponsoring Senior Noteholders and Subordinated Noteholders (the “Sponsoring Noteholders”).
View on SEC.gov