Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Tilray Brands, Inc. incurred credit facility of $75 million with Bank of America, N.A., as Administrative Agent at With respect to any Loans whose interest is determined by reference to the SOFR maturing June 30, 2028.
- Instrument
- credit facility
- Principal
- $75 million
- Counterparty
- Bank of America, N.A., as Administrative Agent
- Rate
- With respect to any Loans whose interest is determined by reference to the SOFR
- Maturity
- June 30, 2028
- Event
- incurrence
Exact text from the filing
On June 30, 2023, Four Twenty Corporation (the "Borrower"), a wholly owned subsidiary of Tilray Brands, Inc., a Delaware corporation (the "Company"), entered into a Credit Agreement (the "Credit Agreement"), together with certain of the Company’s wholly domestic owned subsidiaries (the "Guarantors"), a syndicate of lending institutions from time to time party thereto (the "Lenders"), and Bank of America, N.A., as Administrative Agent (the "Administrative Agent"). Pursuant to the Credit Agreement, the Guarantors have guaranteed the obligations of the Borrower under the Credit Agreement. The Credit Agreement provides for a total aggregate principal amount of $75 million, consisting of term loans in an aggregate principal amount of $70.0 million (the "Term Loans") and revolving loan commitments (the "Revolving Loan Commitments") in an aggregate principal amount of $5.0 million
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Tilray Brands, Inc. entered into Credit Agreement with Bank of America, N.A., as Administrative Agent and the Lenders valued at $75 million (effective 2023-06-30).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Bank of America, N.A., as Administrative Agent and the Lenders
- Value
- $75 million
- Effective
- 2023-06-30
Exact text from the filing
On June 30, 2023, Four Twenty Corporation (the “Borrower”), a wholly owned subsidiary of Tilray Brands, Inc., a Delaware corporation (the “Company”), entered into a Credit Agreement (the “Credit Agreement”), together with certain of the Company’s wholly domestic owned subsidiaries (the “Guarantors”), a syndicate of lending institutions from time to time party thereto (the “Lenders”), and Bank of America, N.A., as Administrative Agent (the “Administrative Agent”).
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Tilray Brands, Inc. terminated Existing Credit Agreement with Bank of Montreal, as agent, and a syndicate of lenders (effective 2023-06-30).
- Action
- termination
- Agreement
- credit facility
- Counterparty
- Bank of Montreal, as agent, and a syndicate of lenders
- Effective
- 2023-06-30
Exact text from the filing
On June 30, 2023, the Borrower borrowed $70.0 million of Term Loans and $5.0 million of Revolving Loans under the Credit Agreement to repay in full all outstanding obligations under and terminate that certain Credit Agreement, dated as of December 8, 2020, by and among the Borrower, the guarantors named therein, Bank of Montreal, as agent, and a syndicate of lenders (as amended, the “Existing Credit Agreement”), which was scheduled to mature on December 8, 2023.
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