secwatch.observer — SEC 8-K summary
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Issuer:     Greenrose Holding Co Inc. (—)
CIK:        0001790665
Form:       8-K
Filed at:   2023-03-27T23:59:59+00:00
Accession:  0001213900-23-023263
Event type: other_material
Sentiment:  negative
Materiality: 0.90
Item codes: 1.01, 2.04, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Greenrose subsidiaries enter strict foreclosure; debt accelerated, collateral to be transferred to lenders
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- On Mar 27, 2023, Theraplant & True Harvest entered Strict Foreclosure Agreement; collateral transferred to NewCo (DXR affiliates) to satisfy ~$155M debt.
- Notice of Acceleration received Mar 25, 2023; all principal, accrued interest, and fees under Credit Agreement declared immediately due and payable.
- TH Obligations set at $20M, Holdings at $5M (if Holdings joins), and CT Real Property Obligations at $4.1M via judicial foreclosure.
- Holdings is not a party initially but may join within 60 days after court rules on board change; if joins, its remaining assets are foreclosed.
- Closings subject to regulatory approvals, mutual release, indemnification; separate closings require 13-week cash flow forecast and NewCo funding of shortfalls.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1790665/000121390023023263/0001213900-23-023263-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1790665/000121390023023263/ea175766-8k_greenrose.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-023263

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