8-K
filed November 17, 2023, 6:59 PM ET
ticker CGEH
CIK 0001009759
other material
confidence high
sentiment positive
materiality 1.00
Capstone Energy Plus, Inc. (CGEH): going-concern / distress — Capstone Green Energy receives court confirmation of Chapter 11 plan; secures additional $3M DIP financing
Capstone Energy Plus, Inc.
- Bankruptcy Court confirmed prepackaged Chapter 11 plan on Nov 14, 2023; plan includes $7.0M exit financing (up from $5.0M).
- Entered First Amendment to DIP Note Purchase Agreement on Nov 15; waived certain milestone breaches.
- Issued $3.0M in new money DIP notes to fund restructuring, working capital; interest at SOFR + 8.75% payable in kind.
- Upon emergence, company becomes private holding trademarks and distributor support; Capstone Turbine International renamed as successor public co.
- Post-emergence officers: Robert C. Flexon Interim President/CEO, John J. Juric CFO; board of 5 named.
Key facts
Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Capstone Energy Plus, Inc. incurred senior notes of $3.0 million with Broad Street Credit Holdings LLC at SOFR Rate plus 8.75% per annum.
- Instrument
- senior notes
- Principal
- $3.0 million
- Counterparty
- Broad Street Credit Holdings LLC
- Rate
- SOFR Rate plus 8.75% per annum
- Event
- incurrence
Exact text from the filing
On November 15, 2023, the Company issued, and the Purchaser funded, $3.0 million in new money debtor-in-possession notes (“New Money DIP Notes”).
View on SEC.gov
Distress & Bankruptcy
SEC 8-K Item 1.03
confidence 0.9
Capstone Energy Plus, Inc. entered chapter 11 in United States Bankruptcy Court for the District of Delaware (petition 2023-09-28).
- Proceeding
- chapter 11
- Court
- United States Bankruptcy Court for the District of Delaware
- Petition
- 2023-09-28
Exact text from the filing
As previously disclosed, on September 28, 2023 (the "Petition Date"), Capstone Green Energy Corporation
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Capstone Energy Plus, Inc. amended First Amendment with Broad Street Credit Holdings LLC valued at $3.0 million (effective 2023-11-15).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- Broad Street Credit Holdings LLC
- Value
- $3.0 million
- Effective
- 2023-11-15
Exact text from the filing
On November 15, 2023, the Company entered into the First Amendment (the “First Amendment”) to Super-Priority Senior Secured Debtor-In-Possession Note Purchase Agreement
View on SEC.gov
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