---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-23-015648"
form_type: "8-K"
ticker: null
cik: "0001828672"
company_name: "Boxed, Inc."
filed_at: "2023-04-03T23:59:59+00:00"
generated_at: "2026-06-17T07:14:23.122443+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

# Boxed files Chapter 11, plans to sell Spresso software business and wind down retail operations

## Summary
- Filed voluntary Chapter 11 petitions on April 2, 2023 (Case Nos. 23-10397 to 23-10401).
- Negotiating sale of substantially all Spresso assets to first lien lender; expects asset purchase agreement.
- Began winding down retail operations on March 30; expects to fully cease Dallas and Las Vegas fulfillment by April 3.
- Chapter 11 filing accelerated obligations under First Lien, Second Lien, and Convertible Note debt instruments.
- Warns common stock holders may receive no recovery; trading is highly speculative.

## SEC filing metadata
- accession: 0001140361-23-015648
- form_type: 8-K
- cik: 0001828672
- company_name: Boxed, Inc.
- filed_at: 2023-04-03T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 1.03, 2.04, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1828672/000114036123015648/0001140361-23-015648-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1828672/000114036123015648/brhc10050838_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-23-015648
- JSON: https://secwatch.observer/filing/0001140361-23-015648.json
- Plain text: https://secwatch.observer/filing/0001140361-23-015648.txt

## Key facts
- Debt Financings
  Boxed, Inc. faced acceleration on convertible notes with U.S. Bank, N.A. at 7.00% maturing due 2026.
  - Instrument: convertible notes
  - Counterparty: U.S. Bank, N.A.
  - Rate: 7.00%
  - Maturity: due 2026
  - Event: acceleration
  source text: • The Indenture, dated as of December 8, 2021, between the Company (f/k/a Seven Oaks Acquisition Corp.), as issuer, and U.S. Bank, N.A., as Trustee (the “Convertible Note Indenture”), pursuant to which the Company issued 7.00% Convertible Senior Notes due 2026.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1828672/000114036123015648/0001140361-23-015648-index.htm
- Debt Financings
  Boxed, Inc. faced acceleration on credit facility with Alter Domus (US) LLC.
  - Instrument: credit facility
  - Counterparty: Alter Domus (US) LLC
  - Event: acceleration
  source text: • The Credit Agreement, dated as of August 4, 2021, as amended by the First Amendment to Credit Agreement, dated as of January 20, 2023, between Boxed, LLC, as borrower, the Company, as Parent, the lenders party thereto and Alter Domus (US) LLC, as administrative agent (the “First Lien Credit Agreement”);
  evidence_url: https://www.sec.gov/Archives/edgar/data/1828672/000114036123015648/0001140361-23-015648-index.htm
- Debt Financings
  Boxed, Inc. faced acceleration on credit facility with Wilmington Savings Fund Society, FSB.
  - Instrument: credit facility
  - Counterparty: Wilmington Savings Fund Society, FSB
  - Event: acceleration
  source text: • The Second Lien Credit Agreement, dated as of January 20, 2023, between Boxed, LLC, as borrower, the Company, as parent, the lenders party thereto, and Wilmington Savings Fund Society, FSB, as administrative agent (the “Second Lien Credit Agreement”);
  evidence_url: https://www.sec.gov/Archives/edgar/data/1828672/000114036123015648/0001140361-23-015648-index.htm
- Distress & Bankruptcy
  Boxed, Inc. entered chapter 11 (petition 2023-04-02).
  - Proceeding: chapter 11
  - Petition: 2023-04-02
  source text: On April 2, 2023, the Company and its subsidiaries, Ashbrook Commerce Solutions LLC, Boxed, LLC, Boxed Max LLC and Jubilant LLC (together with the Company, the “Debtors”), filed voluntary petitions (Case Nos. 23-10397, 23-10398, 23-10399, 23-10400 and 23-10401) (the “Chapter 11 Cases”) for relief under Chapter 11 of title 11 of the Bankruptcy Code in the Bankruptcy Court.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1828672/000114036123015648/0001140361-23-015648-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.