secwatch.observer — SEC 8-K summary
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Issuer:     Groupon, Inc. (GRPN)
CIK:        0001490281
Form:       8-K
Filed at:   2023-03-15T23:59:59+00:00
Accession:  0001490281-23-000013
Event type: debt
Sentiment:  negative
Materiality: 0.80
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Groupon amends credit agreement: revolver cut to $75M, adds $50M minimum liquidity covenant
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- Fourth Amendment reduces revolving line from $150M to $75M; company repaid $25M of outstanding borrowings.
- New monthly minimum liquidity requirement of at least $50M (including undrawn revolver capacity).
- EBITDA add-back cap for non-recurring charges raised to $120M in Q1/Q2 2023, stepping down to $60M thereafter.
- Mandatory prepayment from asset sales exceeding $15M annually; additional restrictions on investments and debt.
- Company must appoint financial advisor within 90 days to pursue alternative financing; Q4 2022 earnings rescheduled to March 16.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1490281/000149028123000013/0001490281-23-000013-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1490281/000149028123000013/grpn-20230313.htm
  HTML page:      https://secwatch.observer/filing/0001490281-23-000013

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