{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-24-023512","form_type":"8-K","ticker":null,"cik":"0001800682","company_name":"Cano Health, Inc.","filed_at":"2024-02-05T23:59:59+00:00","discovered_at":"2026-05-14T18:03:25.577336+00:00","generated_at":"2026-06-06T09:15:28.315259+00:00","sec_items":["1.01","1.03","2.03","2.04","5.02","7.01","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.9,"calibrated_materiality_score":0.9,"confidence":"high","headline":"Cano Health files Chapter 11 bankruptcy; enters $150M DIP financing with consenting creditors","bullets":["Filed Chapter 11 in Delaware Bankruptcy Court on Feb 4, 2024; 86% secured debt and 92% unsecured note holders support restructuring.","DIP facility of $150M ($50M interim, $100M final) at SOFR+11% or ABR+10%; maturity 8 months from closing.","RSA contemplates standalone reorganization or whole-company sale; unsecured creditors get warrants for 5% of reorganized equity.","CEO Mark Kent receives $3.75M retention bonus; CFO Eladio Gil $950k; COO $1.065M; CCO $462.5k; all forfeit 2023 bonus and 2024 LTI.","Chapter 11 triggers default on 6.250% Senior Notes 2028 and two credit agreements; enforcement automatically stayed."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-24-023512","json":"https://secwatch.observer/filing/0001193125-24-023512.json","markdown":"https://secwatch.observer/filing/0001193125-24-023512.md","text":"https://secwatch.observer/filing/0001193125-24-023512.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1800682/000119312524023512/0001193125-24-023512-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1800682/000119312524023512/d733561d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-06T09:15:28.315259+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"3bf7e675420e66dfb765d97f7049fe78d280ed40","claim":"Cano Health, Inc. reported a default on senior notes of 6.250% Senior Notes due 2028 with U.S. Bank National Association at 6.250% maturing 2028.","evidence_excerpt":"The filing of the Chapter 11 Cases constitutes an event of default that permits acceleration of the Company's obligations under the following debt instruments (the \" Debt Instruments \"): • Indenture, dated as of September 30, 2021, by and among Cano Health, LLC as issuer, the guarantors party thereto and U.S. Bank National Association, as trustee, relating to the 6.250% Senior Notes due 2028.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1800682/000119312524023512/0001193125-24-023512-index.htm","confidence":0.95,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"senior notes"},{"label":"Principal","value":"6.250% Senior Notes due 2028"},{"label":"Counterparty","value":"U.S. Bank National Association"},{"label":"Rate","value":"6.250%"},{"label":"Maturity","value":"2028"},{"label":"Event","value":"default"}],"fact_type":"debt_financing"},{"claim_id":"50e53f4a89c7d13284d0949db7e28a015e394d6a","claim":"Cano Health, Inc. entered chapter 11 in U.S. Bankruptcy Court for the District of Delaware (petition 2024-02-04).","evidence_excerpt":"On February 4, 2024, the Debtors commenced filing voluntary petitions (the “ Chapter 11 Cases ”) in the U.S. Bankruptcy Court for the District of Delaware (the “ Bankruptcy Court ”) seeking relief under Chapter 11 of the U.S. Code (the “ Bankruptcy Code ”).","evidence_source":"SEC 8-K Item 1.03","evidence_url":"https://www.sec.gov/Archives/edgar/data/1800682/000119312524023512/0001193125-24-023512-index.htm","confidence":0.99,"family_label":"Distress & Bankruptcy","details":[{"label":"Proceeding","value":"chapter 11"},{"label":"Court","value":"U.S. Bankruptcy Court for the District of Delaware"},{"label":"Petition","value":"2024-02-04"}],"fact_type":"distress_event"},{"claim_id":"60d4a37647f5c0bacf7ee7e8e03373f9b4aac668","claim":"Cano Health, Inc. entered into Restructuring Support Agreement with lenders holding approximately 86% of its secured revolving and term loan debt and 92% of its senior unsecured notes (effective 2024-02-04).","evidence_excerpt":"On February 4, 2024, Cano Health, Inc. (the “ Company ”) and certain of its direct and indirect subsidiaries (such subsidiaries, together with the Company, the “ Debtors ”), entered into a Restructuring Support Agreement (together with the Restructuring Term Sheet and all other exhibits and schedules attached thereto, the “ RSA ”) with lenders holding approximately (x) 86% of its secured revolving and term loan debt and (y) 92% of its senior unsecured notes (collectively, the “ Consenting Creditors ”)","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1800682/000119312524023512/0001193125-24-023512-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"lenders holding approximately 86% of its secured revolving and term loan debt and 92% of its senior unsecured notes"},{"label":"Effective","value":"2024-02-04"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}