Capstone Green enters Fifth Amendment waiving covenant breach; receives Nasdaq deficiency notice

Capstone Energy Plus, Inc.

Fifth Amendment waives covenant breach and missed interest payment; sets minimum liquidity at $3.5M through Sept 2024.
Milestones for Transaction Support Agreement: terms by Aug 22, definitive docs by Aug 31, close by Sept 15; may include bankruptcy.
Nasdaq notified late 10-Q (Jun 30, 2023) and 10-K (Mar 31, 2023); 60 days to submit compliance plan, possible extension to Feb 12, 2024.
Previously disclosed MVLS below $35M minimum; compliance deadline Sept 25, 2023.

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Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Capstone Energy Plus, Inc. amended Fifth Amendment to the Amended and Restated Note Purchase Agreement with Goldman Sachs Specialty Lending Group, L.P. valued at Fifth Amendment provides waiver of breach, revised interest payment due date, minimum Consolidated L (effective 2023-08-16).

Action: amendment
Agreement: notes offering
Counterparty: Goldman Sachs Specialty Lending Group, L.P.
Value: Fifth Amendment provides waiver of breach, revised interest payment due date, minimum Consolidated L
Effective: 2023-08-16

Exact text from the filing

On August 16, 2023 (the "Effective Date"), Capstone Green Energy Corporation (the "Company") entered into a Fifth Amendment (the "Fifth 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 (the "Collateral Agent"), and the purchaser party thereto (the "Purchaser").

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Capstone Energy Plus, Inc. filing history →

Source: SEC EDGAR

accession 0001558370-23-015108

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