secwatch.observer — SEC 8-K summary
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Issuer:     Mativ Holdings, Inc. (MATV)
CIK:        0001000623
Form:       8-K
Filed at:   2023-09-29T23:59:59+00:00
Accession:  0001193125-23-246522
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Mativ amends credit facility to permit sale of Engineered Papers business to Evergreen Hill
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- Seventh Amendment to $1.793B credit agreement effective Sept 19, 2023, clears way for Engineered Papers sale.
- Maximum net debt to EBITDA covenant: 4.75x for Q3 2023; 4.50x for Q4 2023 (post-closing) and thereafter.
- Net cash proceeds from the sale must be used to prepay Term Loans under the credit agreement.
- Amendment required consent from Required Lenders and Required TLA/DDTL/RC Lenders; other material terms unchanged.
- Transaction remains subject to other closing conditions; no change to previously announced sale terms.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1000623/000119312523246522/0001193125-23-246522-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1000623/000119312523246522/d470042d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-246522

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