---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-040998"
form_type: "8-K"
ticker: null
cik: "0001021096"
company_name: "Troika Media Group, Inc."
filed_at: "2023-12-07T23:59:59+00:00"
generated_at: "2026-06-07T15:58:32.731102+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

# Troika Media files Chapter 11, enters stalking horse asset sale to Blue Torch Finance

## Summary
- Filed Chapter 11 on Dec 7, 2023 in SDNY; will operate as debtor-in-possession.
- Stalking horse credit bid: at least $11M DIP obligations + at least $40M prepetition loan claims by Blue Torch.
- DIP financing up to $11M committed by Blue Torch to fund operations through sale process.
- 2023 annual meeting canceled; Company warns equity holders likely receive no recovery.
- Sale process via court-supervised auction expected to conclude in a few months; Converge leaders Carrano and Terry to remain.

## SEC filing metadata
- accession: 0001628280-23-040998
- form_type: 8-K
- cik: 0001021096
- company_name: Troika Media Group, Inc.
- filed_at: 2023-12-07T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 1.01, 1.03, 2.03, 2.04, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1021096/000162828023040998/0001628280-23-040998-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1021096/000162828023040998/trka-20231207.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-040998
- JSON: https://secwatch.observer/filing/0001628280-23-040998.json
- Plain text: https://secwatch.observer/filing/0001628280-23-040998.txt

## Key facts
- Debt Financings
  Troika Media Group, Inc. incurred term loan of $11,000,000 with Blue Torch Finance LLC.
  - Instrument: term loan
  - Principal: $11,000,000
  - Counterparty: Blue Torch Finance LLC
  - Event: incurrence
  source text: the DIP Lenders provided the Debtors with a senior secured, superpriority debtor-in-possession term loan facility in the maximum aggregate amount of $11,000,000
  evidence_url: https://www.sec.gov/Archives/edgar/data/1021096/000162828023040998/0001628280-23-040998-index.htm
- Debt Financings
  Troika Media Group, Inc. faced acceleration on credit facility of $71,718,750 with Blue Torch Finance LLC.
  - Instrument: credit facility
  - Principal: $71,718,750
  - Counterparty: Blue Torch Finance LLC
  - Event: acceleration
  source text: thereto and Blue Torch Finance LLC, as administrative agent and collateral agent. As of December 1, 2023, the outstanding principal amount under the Financing Agreement was $71,718,750. The Financing Agreement provides that upon the filing of the Bankruptcy Petitions, the outstanding principal and all accrued and unpaid interest under the Financing Agreement
  evidence_url: https://www.sec.gov/Archives/edgar/data/1021096/000162828023040998/0001628280-23-040998-index.htm
- Distress & Bankruptcy
  Troika Media Group, Inc. entered chapter 11 in United States Bankruptcy Court for the Southern District of New York (petition 2023-12-07).
  - Proceeding: chapter 11
  - Court: United States Bankruptcy Court for the Southern District of New York
  - Petition: 2023-12-07
  source text: each filed a voluntary petition for relief (the “ Bankruptcy Petitions ”) under chapter 11 of the United States Bankruptcy Code
  evidence_url: https://www.sec.gov/Archives/edgar/data/1021096/000162828023040998/0001628280-23-040998-index.htm

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