Groupon terminates $43.1M credit facility with JPMorgan using rights offering proceeds

Groupon, Inc.

Prepaid $43.1M ($42.8M principal + $0.1M interest + $0.2M fees) to terminate Credit Agreement with JPMorgan.
No early termination penalties incurred; all future commitments to extend credit ended.
Payoff funded from $80M fully backstopped rights offering proceeds made to common stockholders.
Groupon retained access to letters of credit under pre-existing Cash Collateral Agreement with JPMorgan.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Groupon, Inc. terminated Second Amended and Restated Credit Agreement with JPMorgan Chase Bank, N.A. valued at approximately $43.1 million (effective 2024-02-12).

Action: termination
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A.
Value: approximately $43.1 million
Effective: 2024-02-12

Exact text from the filing

On February 12, 2024, Groupon, Inc. (the "Company") prepaid approximately $43.1 million (the “Payoff Amount”) to terminate all commitments to extend further credit under the Second Amended and Restated Credit Agreement, dated as of May 14, 2019 (as amended by the First Amendment, dated as of July 17, 2020, the Second Amendment, dated as of March 22, 2021, the Third Amendment, dated as of September 28, 2022, the Fourth Amendment, dated as of March 13, 2023 and the Fifth Amendment, dated as of November 7, 2023, collectively, the “Credit Agreement”) with JPMorgan Chase Bank, N.A., as Administrative Agent, and the other lenders party to the Credit Agreement.

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Source: SEC EDGAR

accession 0001490281-24-000016

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