secwatch.observer — SEC 8-K summary
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Issuer:     Veradigm Inc. (—)
CIK:        0001124804
Form:       8-K
Filed at:   2024-04-01T23:59:59+00:00
Accession:  0001193125-24-082648
Event type: other_material
Sentiment:  negative
Materiality: 0.80
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Veradigm enters third credit agreement amendment, cuts liquidity covenant to $75M from $350M
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- Third Amendment to credit agreement provides relief period for furnishing financials through 2024.
- Minimum liquidity reduced from $350M to $75M, excluding undrawn commitments and deducting 2027 convertible notes outstanding.
- Borrowing condition during relief period: consolidated cash cannot exceed $400M (or $250M after 75% of 2027 notes redeemed).
- Aggregate cap of $40M on certain acquisitions, investments, restricted payments and prepayments of restricted junior debt.
- Highest pricing tier in leverage-based pricing grid applied; management projected financials permitted for financial testing.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1124804/000119312524082648/0001193125-24-082648-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1124804/000119312524082648/d800322d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-082648

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