Troika Media Group, Inc.: M&A transaction — Troika Media Group completes asset sale under Chapter 11 for min $83.85M credit bid

Troika Media Group, Inc.

Sold substantially all assets to BTC Converge Buyer LLC (affiliate of Blue Torch Finance) for at least $83,849,285.36 in credit bid.
Consummated on March 1, 2024 after Bankruptcy Court approval on February 7, 2024.
Company cautions equity holders (common stock and warrants) likely receive no recovery due to senior creditor claims.
Stock delisted from Nasdaq Dec 18, 2023; now trades OTC under TRKAQ and TRKAWQ.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Troika Media Group, Inc. completed a disposition involving BTC Converge Buyer LLC for aggregate consideration of not less than $83,849,285.36 (closed 2024-03-01).

Action: disposition
Counterparty: BTC Converge Buyer LLC
Consideration: aggregate consideration of not less than $83,849,285.36
Closing: 2024-03-01

Exact text from the filing

”), providing for the Asset Sale, whereby BTC agreed to purchase the Purchased Assets (as defined in the Asset Purchase Agreement) for aggregate consideration of not less than $83,849,285.36, consisting of (1) a credit bid equal to (x) an amount up to all outstanding obligations under the DIP Credit Facility (as defined in the Asset Purchase Agreement) but not less

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Source: SEC EDGAR

accession 0001628280-24-008758

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