other material
confidence high
sentiment neutral
materiality 0.40
CompoSecure amends credit agreement to permit spin-off of Resolute Holdings
GPGI, Inc.
- Spin-off of Resolute Holdings to occur no later than Feb 28, 2025; conditions include no default and delivery of certificate.
- Amendment allows up to $10M investment in Resolute Holdings and waives past default for not making it a loan party.
- Management Agreement with Resolute Holdings limits quarterly management fee to 2.5% of trailing four-quarter EBITDA.
- Resolute Change of Control requires Cote and Knott remain officers and Permitted Holders retain ≥25% voting power.