{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-24-020034","form_type":"8-K","ticker":null,"cik":"0001014111","company_name":"GlassBridge Enterprises, Inc.","filed_at":"2024-05-15T23:59:59+00:00","discovered_at":"2026-05-14T18:03:16.885180+00:00","generated_at":"2026-06-01T22:28:12.942591+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"confidence":"high","headline":"GlassBridge subsidiary enters $35M revolving credit facility with East West Bank, secured by home equity options","bullets":["GB HEI (subsidiary) obtained a $35M revolver (up to $50M) from East West Bank; $9.3M drawn at closing.","Proceeds used to repay $4M loan from Point Digital Finance; facility matures May 9, 2031.","Advances bear interest at Term SOFR + 3.25%, interest payable monthly, available through May 9, 2026.","Performance triggers: 3-month rolling Resolution Rate <7.5% (after 6 months) or Intrinsic Value <85% of net funded balance.","GB HRP pledged 100% membership interest of GB HEI as collateral; home equity option contracts transferred to borrower."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-24-020034","json":"https://secwatch.observer/filing/0001493152-24-020034.json","markdown":"https://secwatch.observer/filing/0001493152-24-020034.md","text":"https://secwatch.observer/filing/0001493152-24-020034.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1014111/000149315224020034/0001493152-24-020034-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1014111/000149315224020034/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-01T22:28:12.942591+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":"5050d0b1a2d098bf072a475c4f899515e0558284","claim":"GlassBridge Enterprises, Inc. incurred credit facility of $35,000,000 with East West Bank at Term SOFR plus 3.25% maturing May 9, 2031.","evidence_excerpt":"not otherwise defined herein have the meanings ascribed thereto in the EWB Loan Agreement. The aggregate amount of the Revolving Loan Commitments under the EWB Loan Agreement is $35,000,000; provided that in the sole discretion of East West Bank and the other lenders, the Revolving Loan Commitment may be increased up to $50,000,000. The Scheduled Maturity Date is","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1014111/000149315224020034/0001493152-24-020034-index.htm","confidence":0.95,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Principal","value":"$35,000,000"},{"label":"Counterparty","value":"East West Bank"},{"label":"Rate","value":"Term SOFR plus 3.25%"},{"label":"Maturity","value":"May 9, 2031"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"1525cc7a2876905d7259694ab4a97235159491d5","claim":"GlassBridge Enterprises, Inc. entered into Loan and Security Agreement with East West Bank valued at $35,000,000 (effective 2024-05-09).","evidence_excerpt":"On May 9, 2024, GB HEI, LLC (the “Borrower” or “GB HEI”), a wholly-owned indirect subsidiary of GlassBridge Enterprises, Inc. (the “Company”), and GB HRP, LLC (“GB HRP”), a wholly-owned subsidiary of the Company, entered into a Loan and Security Agreement (the “EWB Loan Agreement”), and East West Bank, a California corporation (“East West Bank”), as a lender and as agent for the other lenders from time to time party thereto","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1014111/000149315224020034/0001493152-24-020034-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"East West Bank"},{"label":"Value","value":"$35,000,000"},{"label":"Effective","value":"2024-05-09"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}