secwatch.observer — SEC 8-K summary
======================================

Issuer:     Digital Media Solutions, Inc. (—)
CIK:        0001725134
Form:       8-K
Filed at:   2024-04-19T23:59:59+00:00
Accession:  0001628280-24-016841
Event type: debt
Sentiment:  negative
Materiality: 0.85
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Digital Media Solutions secures $22M debt amendment, waives defaults but must launch asset sale process
--------------------------------------------------------------------------------

- New Tranche A term loans of $22M increase total credit facility to $297M; maturity Feb 25, 2026.
- PIK interest option for quarterly payments through March 31, 2025; net leverage covenant waived through June 30, 2025.
- Company must maintain minimum $5M unrestricted cash and comply with variance test on cash receipts.
- 8.0% commitment fee payable as PIK interest; amendment also waives specified prior defaults.
- Company must promptly start a strategic review and marketing process for sale of all or substantially all assets.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1725134/000162828024016841/0001628280-24-016841-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1725134/000162828024016841/dms-20240417.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-016841

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer