secwatch.observer — SEC 8-K summary
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Issuer:     20230930-DK-Butterfly-1, Inc. (—)
CIK:        0000886158
Form:       8-K
Filed at:   2023-04-24T23:59:59+00:00
Accession:  0001193125-23-111754
Event type: other_material
Sentiment:  negative
Materiality: 1.00
Item codes: 1.01, 1.03, 2.03, 2.04, 5.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Bed Bath & Beyond files Chapter 11 bankruptcy; secures $240M DIP financing; begins wind-down
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- Filed voluntary Chapter 11 petitions on April 23, 2023; 360 Bed Bath & Beyond and 120 buybuy BABY stores remain open.
- Obtained $240M debtor-in-possession financing from Sixth Street Specialty Lending ($40M new money + $200M roll-up).
- Appointed Holly Etlin as CFO (effective April 22) and also as Chief Restructuring Officer.
- Expects Nasdaq delisting; warns common stock is highly speculative and holders may face complete loss.
- Bankruptcy triggered defaults on $1.03B in senior notes, $80M credit facility, and other obligations.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/886158/000119312523111754/0001193125-23-111754-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/886158/000119312523111754/d465247d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-111754

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