{"schema_version":"secwatch.filing_event.v1","accession":"0001437749-23-002860","form_type":"8-K","ticker":"BBXIB","cik":"0001814974","company_name":"BBX Capital, Inc.","filed_at":"2023-02-09T23:59:59+00:00","discovered_at":"2026-05-14T18:03:46.717371+00:00","generated_at":"2026-06-19T20:45:56.937639+00:00","sec_items":["2.03","9.01"],"event_type":"debt","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"BBX Capital subsidiary Renin amends TD credit facility, receives $8M equity injection","bullets":["BBX Capital contributed $1M in Dec 2022 and $7M in Feb 2023 to Renin; Renin used $2.5M to prepay term loan.","Revolving line temporarily increased to $22M (from $20M) through Dec 31, 2023, then reverts to $20M.","Interest rates reduced during modification: Canadian Prime +2.875%, US Base +2.5%, Term SOFR/BA +4.375% plus CSA.","Waived past non-compliance with financial covenants; new minimum operating results for 2023 and redefined leverage ratio.","BBX pledged all membership interests in Renin as collateral; subordination agreement with TD Bank."],"urls":{"canonical":"https://secwatch.observer/filing/0001437749-23-002860","json":"https://secwatch.observer/filing/0001437749-23-002860.json","markdown":"https://secwatch.observer/filing/0001437749-23-002860.md","text":"https://secwatch.observer/filing/0001437749-23-002860.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1814974/000143774923002860/0001437749-23-002860-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1814974/000143774923002860/bbxi20230201_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-19T20:45:56.937639+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"1a469f6a6bc1a58cc0a863f0f95ade2ec04fcef2","claim":"BBX Capital, Inc. reported a default on credit facility with The Toronto-Dominion Bank.","evidence_excerpt":"As of June 30, 2022 and continuing through January 2023, Renin was not in compliance with the financial covenants under the credit facility which required Renin to meet certain minimum levels of specified operating results, and while TD Bank continued to allow Renin to utilize its revolving line of credit, TD Bank sent formal notices of default to Renin between August 2022 and January 2023.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1814974/000143774923002860/0001437749-23-002860-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Counterparty","value":"The Toronto-Dominion Bank"},{"label":"Event","value":"default"}],"fact_type":"debt_financing"},{"claim_id":"a42d1dbc21c1acb0beff4c56872c7837359fde3f","claim":"BBX Capital, Inc. amended credit facility with The Toronto-Dominion Bank at Canadian Prime Rate plus a spread of 2.875% per annum.","evidence_excerpt":"On February 3, 2023, the credit facility was further amended effective January 31, 2023 to, among other things: (i) temporarily increase the availability under the revolving line of credit from $20.0 million to $22.0 million from January 1, 2023 through December 31, 2023, (ii) require $8.0 million of funding from BBX Capital (including amounts funded by BBX Capital during the period from December 2022 through the date of the amendment) to provide Renin funds to prepay the Term Loan by no less than $1.5 million and to provide additional working capital to Renin, (iii) waive Renin’s non-compliance with the financial covenants under the facility through the date of the amendment, (iv) establish a financial covenant requiring Renin to meet minimum levels of specified operating results from January 2023 through December 2023, (v) redefine the maximum total leverage ratio financial covenant under the credit facility and waive the requirement to comply with the covenant until January 1, 2024,","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1814974/000143774923002860/0001437749-23-002860-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Counterparty","value":"The Toronto-Dominion Bank"},{"label":"Rate","value":"Canadian Prime Rate plus a spread of 2.875% per annum"},{"label":"Event","value":"amendment"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}