home · filing · 0001193125-24-173893
8-K filed July 2, 2024, 7:59 PM ET
ticker DOUG
CIK 0001878897
debt
confidence high
sentiment positive
materiality 0.75
Douglas Elliman issues $50M convertible notes to Kennedy Lewis; Q2 GTV prelim $10.25-$11.25B
Douglas Elliman Inc.
Issued $50M senior secured convertible notes due 2029 at 7% cash/8% PIK interest, conversion price $1.50 per share (19% premium).
Preliminary Q2 gross transaction value $10.25B-$11.25B vs Q1 $7.1B; cash $92M as of June 30 after $7.75M litigation settlement.
David K. Chene (Kennedy Lewis) and Patrick J. Bartels appointed to board; Ronald J. Kramer and Lynn Mestel resigned.
Kennedy Lewis can nominate a director while holding at least one-third of its initial investment.
Negative covenant: if Consolidated Adjusted EBITDA below $0 for two consecutive quarters, must maintain $20M liquidity.
Executive movements
Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements .
Appointed
Patrick J. Bartels Jr.
Class III Director
DOUG ·
Douglas Elliman Inc.
Effective 2024-07-02
Filed July 2, 2024, 7:59 PM ET
On July 2, 2024, effective immediately after Closing, the Board appointed David K. Chene and Patrick J. Bartels Jr. as Class III directors
Appointed
David K. Chene
Class III Director
DOUG ·
Douglas Elliman Inc.
Effective 2024-07-02
Filed July 2, 2024, 7:59 PM ET
On July 2, 2024, effective immediately after Closing, the Board appointed David K. Chene and Patrick J. Bartels Jr. as Class III directors
Departed
Ronald J. Kramer
Director
DOUG ·
Douglas Elliman Inc.
Effective 2024-07-02
Filed July 2, 2024, 7:59 PM ET
Ronald J. Kramer and Lynn Mestel resigned from the Board and all committees thereof.
Departed
Lynn Mestel
Director
DOUG ·
Douglas Elliman Inc.
Effective 2024-07-02
Filed July 2, 2024, 7:59 PM ET
Ronald J. Kramer and Lynn Mestel resigned from the Board and all committees thereof.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Patrick J. Bartels Jr. was appointed as Class III Director at Douglas Elliman Inc..
Action appointed
Role Class III Director
Exact text from the filing
On July 2, 2024, effective immediately after Closing, the Board appointed David K. Chene and Patrick J. Bartels Jr. as Class III directors
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
David K. Chene was appointed as Class III Director at Douglas Elliman Inc..
Action appointed
Role Class III Director
Exact text from the filing
On July 2, 2024, effective immediately after Closing, the Board appointed David K. Chene and Patrick J. Bartels Jr. as Class III directors
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Ronald J. Kramer resigned as Director at Douglas Elliman Inc..
Action resigned
Role Director
Exact text from the filing
Ronald J. Kramer and Lynn Mestel resigned from the Board and all committees thereof.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Lynn Mestel resigned as Director at Douglas Elliman Inc..
Action resigned
Role Director
Exact text from the filing
Ronald J. Kramer and Lynn Mestel resigned from the Board and all committees thereof.
View on SEC.gov
Source: SEC EDGAR
accession 0001193125-24-173893
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