Hydrofarm Holdings amends credit facility, extends maturity to 2026, reduces commitment to $55M

HYDROFARM HOLDINGS GROUP, INC.

Entered Fifth Amendment to Senior Secured Revolving Credit Facility with JPMorgan Chase, extending maturity to June 30, 2026.
Maximum commitment reduced to $55 million; no borrowings outstanding as of March 31, 2023.
Compensation committee approved 173,411 RSUs to CEO William Toler, vesting 50% Oct 2023 and 50% Oct 2024.
Also approved $250,000 cash retention bonus to CFO B. John Lindeman, payable in installments through Oct 2024.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 1.0

HYDROFARM HOLDINGS GROUP, INC. amended Fifth Amendment with JPMorgan Chase Bank, N.A. valued at $55 million (effective 2023-03-31).

Action: amendment
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A.
Value: $55 million
Effective: 2023-03-31

Exact text from the filing

On March 31, 2023, Hydrofarm Holdings Group, Inc. (the “Company”) and certain of its subsidiaries entered into an amendment (the “Fifth Amendment”) to that certain Senior Secured Revolving Credit Facility (the “Revolving Credit Facility”) with JPMorgan Chase Bank, N.A., as administrative agent, issuing bank and swingline lender, and the lenders from time to time party thereto.

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Source: SEC EDGAR

accession 0001628280-23-011013

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