secwatch.observer — SEC 8-K summary
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Issuer:     Sphere Entertainment Co. (SPHR)
CIK:        0001795250
Form:       8-K
Filed at:   2025-02-05T23:59:59+00:00
Accession:  0001193125-25-020178
Event type: debt
Sentiment:  negative
Materiality: 0.70
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sphere Entertainment subsidiary extends loan forbearance to March 26, 2025
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- MSGN L.P. owes $804.1M in principal plus $193,707.56 unpaid interest under Credit Agreement.
- Forbearance period extended from Feb 4, 2025 to the earlier of March 26, 2025 or a Termination Event.
- New covenants include a Minimum Liquidity Test requiring specified unrestricted cash each test date.
- Loan parties must maintain cash in accounts subject to control agreement favor of the Agent.
- Supporting Lenders may further extend forbearance; no waiver of Specified Default or other rights.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1795250/000119312525020178/0001193125-25-020178-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1795250/000119312525020178/d930689d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-020178

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