---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-012057"
form_type: "8-K"
ticker: null
cik: "0001592058"
company_name: "Party City Holdco Inc."
filed_at: "2023-01-20T23:59:59+00:00"
generated_at: "2026-06-20T12:29:20.051825+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.95
calibrated_materiality_score: 0.95
confidence: "high"
source: SEC EDGAR
---

# Party City files Chapter 11, gets $150M DIP, faces NYSE delisting

## Summary
- Filed Chapter 11 on Jan 17, 2023; interim court approval for $150M DIP facility on Jan 18.
- Initial draw of $75M on Jan 19; second $75M draw contingent on final court order.
- DIP bears SOFR+10% or base+9%; commitments expire June 19, 2023, may extend 30 days.
- NYSE started delisting proceedings under Section 802.01D; company will not appeal.
- Proceeds used for admin costs, case expenses, and general corporate purposes.

## SEC filing metadata
- accession: 0001193125-23-012057
- form_type: 8-K
- cik: 0001592058
- company_name: Party City Holdco Inc.
- filed_at: 2023-01-20T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.95
- calibrated_materiality_score: 0.95
- confidence: high
- sec_items: 1.01, 2.03, 3.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1592058/000119312523012057/0001193125-23-012057-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1592058/000119312523012057/d454174d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-012057
- JSON: https://secwatch.observer/filing/0001193125-23-012057.json
- Plain text: https://secwatch.observer/filing/0001193125-23-012057.txt

## Key facts
- Debt Financings
  Party City Holdco Inc. incurred credit facility of $150.00 million with Ankura Trust Company, LLC at adjusted secured overnight financing rate with a one-month tenor rate plus 10.0% maturing June 19, 2023.
  - Instrument: credit facility
  - Principal: $150.00 million
  - Counterparty: Ankura Trust Company, LLC
  - Rate: adjusted secured overnight financing rate with a one-month tenor rate plus 10.0%
  - Maturity: June 19, 2023
  - Event: incurrence
  source text: in accordance with the applicable provisions of the Bankruptcy Code and orders of the Bankruptcy Court. On January 18, 2023, the Bankruptcy Court approved the Debtors proposed $150.00 million senior secured superpriority priming debtor-in-possession term loan credit facility (the “DIP Facility”) on an interim basis pursuant to the Interim Order for the DIP Facility
  evidence_url: https://www.sec.gov/Archives/edgar/data/1592058/000119312523012057/0001193125-23-012057-index.htm
- Listing & Compliance Notices
  Party City Holdco Inc. received a nyse delisting notice notice regarding other (rules 802.01D).
  - Exchange: nyse
  - Notice: delisting notice
  - Rules: 802.01D
  source text: January 18, 2023, the Company was notified by the New York Stock Exchange (the “NYSE”) that, as a result of the Chapter 11 Cases, and in accordance with Section 802.01D of the NYSE Listed Company Manual, the NYSE has commenced proceedings to delist the Company’s common stock from the NYSE. Under NYSE delisting procedures, the Company has the right to appeal this determination. The Company has decided not to appeal this determination. Cautionary Note Regarding Forward-Looking Statements This Form 8-K includes “forward-looking statements” within the meaning of the Private Securities Litigation R
  evidence_url: https://www.sec.gov/Archives/edgar/data/1592058/000119312523012057/0001193125-23-012057-index.htm
- Material Agreements
  Party City Holdco Inc. entered into DIP Credit Agreement with certain financial institutions; Ankura Trust Company, LLC valued at $150.00 million (effective 2023-01-19).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: certain financial institutions; Ankura Trust Company, LLC
  - Value: $150.00 million
  - Effective: 2023-01-19
  source text: On January 19, 2023, certain of the Debtors entered into the credit agreement governing the DIP Facility along with certain financial institutions party thereto as lenders and Ankura Trust Company, LLC, as the administrative agent and collateral agent (the “DIP Credit Agreement"), and the closing of the DIP Facility occurred on the same day.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1592058/000119312523012057/0001193125-23-012057-index.htm

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