---
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"
generated_at: "2026-06-01T22:28:12.942591+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# GlassBridge subsidiary enters $35M revolving credit facility with East West Bank, secured by home equity options

## Summary
- 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.

## SEC filing metadata
- accession: 0001493152-24-020034
- form_type: 8-K
- cik: 0001014111
- company_name: GlassBridge Enterprises, Inc.
- filed_at: 2024-05-15T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-020034
- JSON: https://secwatch.observer/filing/0001493152-24-020034.json
- Plain text: https://secwatch.observer/filing/0001493152-24-020034.txt

## Key facts
- Debt Financings
  GlassBridge Enterprises, Inc. incurred credit facility of $35,000,000 with East West Bank at Term SOFR plus 3.25% maturing May 9, 2031.
  - Instrument: credit facility
  - Principal: $35,000,000
  - Counterparty: East West Bank
  - Rate: Term SOFR plus 3.25%
  - Maturity: May 9, 2031
  - Event: incurrence
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1014111/000149315224020034/0001493152-24-020034-index.htm
- Material Agreements
  GlassBridge Enterprises, Inc. entered into Loan and Security Agreement with East West Bank valued at $35,000,000 (effective 2024-05-09).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: East West Bank
  - Value: $35,000,000
  - Effective: 2024-05-09
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1014111/000149315224020034/0001493152-24-020034-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.