Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
SPRUCE POWER HOLDING CORP incurred term loan of $125,000,000 with Deutsche Bank AG, New York Branch at secured overnight financing rate as administered by the Federal Reserve Bank of maturing August 18, 2025.
- Instrument
- term loan
- Principal
- $125,000,000
- Counterparty
- Deutsche Bank AG, New York Branch
- Rate
- secured overnight financing rate as administered by the Federal Reserve Bank of
- Maturity
- August 18, 2025
- Event
- incurrence
Exact text from the filing
the Borrower entered into a Credit Agreement (the “Credit Agreement”) with Deutsche Bank AG, New York Branch, as facility agent, Computershare Trust Company, National Association, as collateral agent and as paying agent, and the financial institutions from time to time party thereto as Lenders, that provides for a 3-year term loan facility in an aggregate principal amount of $125,000,000 (the “Term Loan Facility”).
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
SPRUCE POWER HOLDING CORP entered into Membership Interest Purchase and Sale Agreement with Mezzanine Partners III, L.P., AP Mezzanine Partners III, L.P., SS Offshore, L.P., and HPS Investment Partners, LLC valued at approximately $23 million in cash, net of cash acquired, and assumed $125 million in debt (effective 2023-03-23).
- Action
- entry
- Agreement
- asset purchase
- Counterparty
- Mezzanine Partners III, L.P., AP Mezzanine Partners III, L.P., SS Offshore, L.P., and HPS Investment Partners, LLC
- Value
- approximately $23 million in cash, net of cash acquired, and assumed $125 million in debt
- Effective
- 2023-03-23
Exact text from the filing
On March 23, 2023, Spruce Power Holding Corporation (the “Company”) entered into a Membership Interest Purchase and Sale Agreement (the “Purchase Agreement”) with Mezzanine Partners III, L.P. (“Mezz Partners”), AP Mezzanine Partners III, L.P. (“AP Mezz Partners”), and SS Offshore, L.P. (“SS Offshore”, and, together with Mezz Partners and AP Mezz Partners, the “Sellers”), and HPS Investment Partners, LLC, a Delaware limited liability company, in its capacity as the Sellers’ Representative, pursuant to which, on the date thereof, the Company acquired 100% of the membership interests in SS Holdings 2017, LLC (“HPS Blocker”), SunStreet Energy Master Tenant Holdings, LLC (“ SEMTH” ), SunStreet Energy Tenant, LLC (“ SET” ), and SET Borrower 2022, LLC (the “ Borrower” and, together with HPS Blocker, SEMTH and SET, collectively, the “Target Companies”), from the Sellers for approximately $23 million in cash, net of cash acquired, and assumed $125 million in debt, subject to the terms and condi
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