secwatch.observer — SEC 8-K summary
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Issuer:     Groupon, Inc. (GRPN)
CIK:        0001490281
Form:       8-K
Filed at:   2022-09-29T23:59:59+00:00
Accession:  0001490281-22-000127
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Groupon amends credit agreement: revolver cut to $150M, covenants eased, $40M drawn
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- Revolver reduced from $225M to $150M; additional $40M drawn on closing (Sept 28, 2022).
- Max funded debt/EBITDA ratio loosened to 4.50x through June 2023 (from 3.25x); then 4.25x.
- Minimum liquidity changed to 100% of accrued merchant & supplier payables (monthly) from 70%.
- EBITDA add-back cap increased to $100M for Q3/Q4 2022, stepping down to $60M thereafter.
- Interest rate benchmark switched from LIBOR to Term SOFR+10bps; ABR spreads temporarily raised.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1490281/000149028122000127/0001490281-22-000127-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1490281/000149028122000127/grpn-20220928.htm
  HTML page:      https://secwatch.observer/filing/0001490281-22-000127

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer