secwatch.observer — SEC 8-K summary
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Issuer:     Cyxtera Technologies, Inc. (—)
CIK:        0001794905
Form:       8-K
Filed at:   2023-06-09T23:59:59+00:00
Accession:  0001193125-23-164436
Event type: other_material
Sentiment:  negative
Materiality: 0.90
Item codes: 1.01, 2.03, 3.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cyxtera files Chapter 11, secures $200M DIP financing, faces delisting
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- Filed Chapter 11 on June 4, 2023 in New Jersey; cases jointly administered as In re: Cyxtera Technologies (23-14852).
- Entered $200M DIP facility: up to $150M new money, $36M roll-up, $14M transferred loans; SOFR + 8.50% interest.
- DIP facility matures earliest of 6 months after effective date, asset sale, or plan confirmation; subject to Bankruptcy Court final order.
- Received Nasdaq delisting notice June 6, 2023; trading suspended June 15, 2023; company will not appeal.
- Prepetition priority lenders owed ~$50M principal; DIP used for working capital, professional fees, Chapter 11 costs.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1794905/000119312523164436/0001193125-23-164436-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1794905/000119312523164436/d508934d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-164436

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