---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-23-011736"
form_type: "8-K"
ticker: "CGEH"
cik: "0001009759"
company_name: "Capstone Energy Plus, Inc."
filed_at: "2023-07-07T23:59:59+00:00"
generated_at: "2026-06-13T10:51:10.290348+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Capstone Green Energy extends note maturity to Sep 2024, waives covenant breach, may pursue bankruptcy restructuring

## Summary
- Fourth Amendment to $50M notes: maturity extended from Oct 2023 to Sep 2024; 1% amendment fee at maturity.
- Goldman Sachs granted board observer rights; new minimum liquidity covenants of $4.0M-$6.0M.
- Company must enter Transaction Support Agreement within 30 days; may involve bankruptcy proceedings.
- Interest payment due July 3 deferred to 30 days from effective date; future payments may be paid-in-kind.
- Restrictions on professional fees, cash disbursements, and employment agreements imposed.

## SEC filing metadata
- accession: 0001558370-23-011736
- form_type: 8-K
- ticker: CGEH
- cik: 0001009759
- company_name: Capstone Energy Plus, Inc.
- filed_at: 2023-07-07T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1009759/000155837023011736/0001558370-23-011736-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1009759/000155837023011736/cgrn-20230706x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-23-011736
- JSON: https://secwatch.observer/filing/0001558370-23-011736.json
- Plain text: https://secwatch.observer/filing/0001558370-23-011736.txt

## Key facts
- Debt Financings
  Capstone Energy Plus, Inc. amended senior notes of $50 million aggregate principal amount of notes (the “Notes”) outstanding with Goldman Sachs Specialty Lending Group, L.P. at Term SOFR interest rate benchmark maturing September 1, 2024.
  - Instrument: senior notes
  - Principal: $50 million aggregate principal amount of notes (the “Notes”) outstanding
  - Counterparty: Goldman Sachs Specialty Lending Group, L.P.
  - Rate: Term SOFR interest rate benchmark
  - Maturity: September 1, 2024
  - Event: amendment
  source text: The Fourth Amendment provides for (i) the waiver by the Purchaser and the Collateral Agent of the Company’s breach of the minimum Consolidated Liquidity covenant contained in the A&R Note Purchase Agreement, the failure to make the interest payment for the most recently ended quarter and certain other breaches specified therein; (ii) the extension of the maturity of the $50 million aggregate principal amount of notes (the “Notes”) outstanding pursuant to the A&R Note Purchase Agreement from October 1, 2023 to September 1, 2024; (iii) an amendment fee payable by the Company at maturity equal to 1.00% of the principal balance of the Notes on the Effective Date; (iv) a due date for the next interest payment on the date that is 30 days from the Effective Date, which interest payment was originally due on July 3, 2023; (v) following the Company’s entry into a Transaction Support Agreement (as defined below), the payment-in-kind of the quarterly interest payments that are due following the n
  evidence_url: https://www.sec.gov/Archives/edgar/data/1009759/000155837023011736/0001558370-23-011736-index.htm
- Material Agreements
  Capstone Energy Plus, Inc. amended Fourth Amendment with Goldman Sachs Specialty Lending Group, L.P., as collateral agent, and the purchaser party thereto valued at $50 million (effective 2023-07-06).
  - Action: amendment
  - Agreement: notes offering
  - Counterparty: Goldman Sachs Specialty Lending Group, L.P., as collateral agent, and the purchaser party thereto
  - Value: $50 million
  - Effective: 2023-07-06
  source text: On July 6, 2023 (the “Effective Date”), Capstone Green Energy Corporation (the “Company”) entered into a Fourth Amendment (the “Fourth Amendment”) to the Amended and Restated Note Purchase Agreement dated October 1, 2020 (the “A&R Note Purchase Agreement”) among the Company, certain subsidiaries of the Company, Goldman Sachs Specialty Lending Group, L.P. (as successor in interest to Goldman Sachs Specialty Lending Holdings, Inc.), as collateral agent (“Goldman” or the “Collateral Agent”) and the purchaser party thereto (the “Purchaser”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1009759/000155837023011736/0001558370-23-011736-index.htm

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