8-K
filed May 24, 2024, 7:59 PM ET
CIK 0001811856
other material
confidence high
sentiment negative
materiality 0.90
View, Inc.: going-concern / distress — View emerges from Chapter 11; all existing equity cancelled, company deregistered
View, Inc.
- Bankruptcy Court confirmed Second Amended Prepackaged Plan on May 20; effective May 22, 2024.
- All common stock and equity rights cancelled; company converted to View Operations, LLC as subsidiary of View TopCo, LLC.
- $52M prepetition term loan equitized for 54.2% of new LLC; $222M convertible notes equitized for 10%; exit lenders received 35.8%.
- New exit facility of $30M (not specified but disclosed) with 5-yr maturity, interest at SOFR+7.5% cash or 14% PIK.
- Howard Lutnick, Josh Spellman, Parikshat Khanna, Scott Rechler, Andrew Min appointed to View TopCo board; Dr. Rao Mulpuri stays CEO of operating LLC.
Key facts
Extracted from this filing and checked against the source text.
Distress & Bankruptcy
SEC 8-K Item 1.03
confidence 0.9
View, Inc. entered chapter 11 in United States Bankruptcy Court for the District of Delaware (petition 2024-04-02).
- Proceeding
- chapter 11
- Court
- United States Bankruptcy Court for the District of Delaware
- Petition
- 2024-04-02
Exact text from the filing
As previously disclosed, on April 2, 2024, View, Inc. (“View” or the “Company”) and certain of its subsidiaries (collectively, the “Debtors”) filed voluntary petitions in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”) for relief under chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”), with a prepackaged chapter 11 plan
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Bill Krause was appointed as Chief Legal Officer and Secretary at View, Inc..
- Action
- appointed
- Role
- Chief Legal Officer and Secretary
Exact text from the filing
Bill Krause (Chief Legal Officer and Secretary)
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Josh Spellman was appointed as director at View, Inc..
- Action
- appointed
Exact text from the filing
Howard Lutnick, Josh Spellman, Parikshat Khanna, Scott Rechler, and Andrew Min. have been appointed to the board of View TopCo, LLC
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Dr. Rao Mulpuri was appointed as Chief Executive Officer at View, Inc..
- Action
- appointed
- Role
- Chief Executive Officer
Exact text from the filing
Dr. Rao Mulpuri (Chief Executive Officer)
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Howard Lutnick was appointed as other_named_officer at View, Inc..
- Action
- appointed
Exact text from the filing
The officer of View TopCo, LLC will be Howard Lutnick.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Howard Lutnick was appointed as director at View, Inc..
- Action
- appointed
Exact text from the filing
Howard Lutnick, Josh Spellman, Parikshat Khanna, Scott Rechler, and Andrew Min. have been appointed to the board of View TopCo, LLC
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Scott Rechler was appointed as director at View, Inc..
- Action
- appointed
Exact text from the filing
Howard Lutnick, Josh Spellman, Parikshat Khanna, Scott Rechler, and Andrew Min. have been appointed to the board of View TopCo, LLC
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Nitesh Trikha was appointed as Chief Product Officer at View, Inc..
- Action
- appointed
- Role
- Chief Product Officer
Exact text from the filing
Nitesh Trikha (Chief Product Officer)
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Andrew Min was appointed as director at View, Inc..
- Action
- appointed
Exact text from the filing
Howard Lutnick, Josh Spellman, Parikshat Khanna, Scott Rechler, and Andrew Min. have been appointed to the board of View TopCo, LLC
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Parikshat Khanna was appointed as director at View, Inc..
- Action
- appointed
Exact text from the filing
Howard Lutnick, Josh Spellman, Parikshat Khanna, Scott Rechler, and Andrew Min. have been appointed to the board of View TopCo, LLC
View on SEC.gov
M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.9
View, Inc. underwent a change of control involving View TopCo, LLC.
- Action
- change of control
- Counterparty
- View TopCo, LLC
Exact text from the filing
On the Effective Date, pursuant to the Prepackaged Plan, the Existing Equity Interests together with any shares of restricted stock, restricted stock units, or any other right to receive equity in the Company, in each case, outstanding immediately prior to the Effective Date, were cancelled, discharged and of no force and effect. As of the Effective Date, the Company converted into a limited liability company, View Operations, LLC, and became a wholly-owned subsidiary of View TopCo, LLC.
View on SEC.gov
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