8-K
filed April 18, 2025, 7:59 PM ET
CIK 0000748790
other material
confidence high
sentiment negative
materiality 0.95
Global Clean Energy Holdings, Inc.: going-concern / distress — Global Clean Energy Holdings files Chapter 11; existing equity to be canceled
Global Clean Energy Holdings, Inc.
- Filed voluntary Chapter 11 on April 16, 2025 in Southern District of Texas.
- Existing common stock canceled with no distribution; new equity issued to term lenders and CTCI.
- Secured $250M DIP financing ($100M new money) from term lenders and CTCI.
- Debt defaults accelerated on ~$1.27B total borrowings across five credit facilities.
- OTCQB listing moved to OTC Pink; USDA grant terminated but reapplication invited.
Key facts
Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Global Clean Energy Holdings, Inc. faced acceleration on credit facility of $49.4 million with Orion Energy Partners TP Agent, LLC.
- Instrument
- credit facility
- Principal
- $49.4 million
- Counterparty
- Orion Energy Partners TP Agent, LLC
- Event
- acceleration
Exact text from the filing
● Approximately $1,096.3 million of borrowings (plus any accrued but unpaid interest, fees and premiums in respect thereof) under Term Loan Credit Agreement; ● Approximately $49.4 million of borrowings (plus any accrued but unpaid interest in respect thereof) under that certain Credit Agreement, dated as of May 4, 2020, by and among BKRF HCB, LLC, a Delaware
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Global Clean Energy Holdings, Inc. faced acceleration on loan of $48.6 million.
- Instrument
- loan
- Principal
- $48.6 million
- Event
- acceleration
Exact text from the filing
HCB, LLC, a Delaware limited liability company, BKRF HCP, LLC, a Delaware limited liability company and GCEH, as assignee of Orion Energy Partners TP Agent, LLC; ● Approximately $48.6 million of borrowings (plus any accrued but unpaid interest in respect thereof) under that certain Promissory Note, dated as of February 23, 2022, by and among Rosedale FinanceCo LLC, a
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Global Clean Energy Holdings, Inc. faced acceleration on credit facility of $1,096.3 million with Orion Energy Partners TP Agent, LLC.
- Instrument
- credit facility
- Principal
- $1,096.3 million
- Counterparty
- Orion Energy Partners TP Agent, LLC
- Event
- acceleration
Exact text from the filing
● Approximately $39.1 million of borrowings (plus any accrued but unpaid interest, fees, and premiums in respect thereof) under the RCF Credit Agreement; ● Approximately $1,096.3 million of borrowings (plus any accrued but unpaid interest, fees and premiums in respect thereof) under Term Loan Credit Agreement; ● Approximately $49.4 million of borrowings (plus any
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Global Clean Energy Holdings, Inc. faced acceleration on credit facility of $39.1 million with Vitol Americas Corp..
- Instrument
- credit facility
- Principal
- $39.1 million
- Counterparty
- Vitol Americas Corp.
- Event
- acceleration
Exact text from the filing
above in Item 1.03 constitutes an event of default that accelerated the Company’s obligations under the following debt instruments (the “Debt Instruments”): ● Approximately $39.1 million of borrowings (plus any accrued but unpaid interest, fees, and premiums in respect thereof) under the RCF Credit Agreement; ● Approximately $1,096.3 million of borrowings (plus
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Global Clean Energy Holdings, Inc. faced acceleration on loan of $34.9 million.
- Instrument
- loan
- Principal
- $34.9 million
- Event
- acceleration
Exact text from the filing
Promissory Note, dated as of February 23, 2022, by and among Rosedale FinanceCo LLC, a Delaware limited liability company, as maker and GCEH as payee; and ● Approximately $34.9 million of borrowings (plus any accrued but unpaid interest in respect thereof) under that certain Amended and Restated Promissory Note, dated as of June 25, 2024, by and among
View on SEC.gov
Distress & Bankruptcy
SEC 8-K Item 1.03
confidence 0.9
Global Clean Energy Holdings, Inc. entered chapter 11 in United States Bankruptcy Court for the Southern District of Texas (petition 2025-04-16).
- Proceeding
- chapter 11
- Court
- United States Bankruptcy Court for the Southern District of Texas
- Petition
- 2025-04-16
Exact text from the filing
On April 16, 2025, the Company filed a petition under chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”) in the Bankruptcy Court.
View on SEC.gov
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