View, Inc.: debt financing — View, Inc. enters Chapter 11; bankruptcy court approves interim $17.5M DIP facility

View, Inc.

Filed Chapter 11 on April 2, 2024 in Delaware; Nasdaq delisted securities effective April 5, 2024.
Interim DIP order approved April 4: $17.5M superpriority facility with 3% closing fee, SOFR+7.5% cash or SOFR+14% PIK interest.
Final DIP approval hearing set for April 26, 2024; no assurance of consummation.
Facility matures 90 days after petition or earlier on defined termination events.
Proceeds used for working capital, adequate protection, and bankruptcy costs per approved budget.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

View, Inc. incurred credit facility of up to $17,500,000 with Cantor Fitzgerald Securities at (i) SOFR + 7.50% per annum if paid in cash, or (ii) SOFR + 14.00% if paid-in-kin maturing 90 days after the Petition Date.

Instrument: credit facility
Principal: up to $17,500,000
Counterparty: Cantor Fitzgerald Securities
Rate: (i) SOFR + 7.50% per annum if paid in cash, or (ii) SOFR + 14.00% if paid-in-kin
Maturity: 90 days after the Petition Date
Event: incurrence

Exact text from the filing

the DIP Lenders have agreed to provide a priming, senior secured, superpriority debtor-in-possession delayed draw term loan facility in an aggregate principal amount equal to up to $17,500,000

View on SEC.gov

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Source: SEC EDGAR

accession 0001193125-24-089607

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