Enviva bankruptcy progresses: DIP final approval, NOL order, RSA milestone extended.

Enviva Inc.

Bankruptcy court final approval of $500M DIP financing on May 3; syndication closed May 6.
Affiliates of directors Bumgarner and Lapeyre became lenders in DIP syndication on May 6.
RSA milestone extended to June 14 for motion to reject customer contracts.
NOL Order approved April 12 restricts stock transfers to preserve net operating losses.
Monthly operating reports for March 12-31, 2024 filed with bankruptcy court.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Enviva Inc. entered into DIP Credit Agreement with the various lenders from time to time party thereto, Acquiom Agency Services LLC and Seaport Loan Products LLC, as co-administrative agents, and Acquiom, as collateral agent valued at $500,000,000 (effective 2024-03-15).

Action: entry
Agreement: credit facility
Counterparty: the various lenders from time to time party thereto, Acquiom Agency Services LLC and Seaport Loan Products LLC, as co-administrative agents, and Acquiom, as collateral agent
Value: $500,000,000
Effective: 2024-03-15

Exact text from the filing

On March 15, 2024, the Debtors entered into a Debtor-in-Possession Credit and Note Purchase Agreement (the “ DIP Credit Agreement ”) by and among the Company, as borrower, and the other Debtors, as guarantors, the various lenders from time to time party thereto (the “ Lenders ”), and Acquiom Agency Services LLC (“ Acquiom ”) and Seaport Loan Products LLC, as co-administrative agents, and Acquiom, as collateral agent providing for a debtor-in-possession term loan and notes facility (the “ DIP Financing ”) in an amount not to exceed $500,000,000.

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292 material agreements filed in the last 30 days. Browse all material agreements →

Source: SEC EDGAR

accession 0001104659-24-059110

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