Global Clean Energy Holdings, Inc.: debt financing — Global Clean Energy obtains $36M in new Tranche D loans; extends capital raise deadlines

Global Clean Energy Holdings, Inc.

New $110M Tranche D facility (upsizable to $140M); $36M committed including $7M funded and $29M converted from Tranche C loans.
Availability period through July 31, 2023 (extendable to Sept 30, 2023); deadlines for $10M and $170M capital raises extended to July 31, 2023 and July 31, 2024.
Existing warrants cancelled and reissued for up to 10,875,000 shares at $0.075/share, exercisable until Dec 23, 2028.
Lenders waived certain defaults arising prior to Amendment No. 13 effective date.
Governance and management deadlines extended to August 15, 2023.

item 1.01 item 2.03 item 3.02 item 9.01

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

Global Clean Energy Holdings, Inc. amended credit facility with Lenders party to Waiver No. 8.

Instrument: credit facility
Counterparty: Lenders party to Waiver No. 8
Event: amendment

Exact text from the filing

Pursuant to Waiver No. 8, the lenders agreed to waive certain Defaults and Events of Default (each as defined under the Senior Credit Agreement), if any, arising prior to, or based on events or circumstances existing prior to, the effective date of Amendment No. 13.

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Global Clean Energy Holdings, Inc. incurred term loan of $110 million with Orion Energy Partners TP Agent, LLC (Administrative Agent).

Instrument: term loan
Principal: $110 million
Counterparty: Orion Energy Partners TP Agent, LLC (Administrative Agent)
Event: incurrence

Exact text from the filing

Amendment No. 13 provides for, among other things, a new $110 million Tranche D term loan facility (which may be increased up to $140 million upon the consent of the Required Lenders (as defined therein)), of which $36 million has been committed.

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Source: SEC EDGAR

accession 0001575872-23-001108

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