CURO Group Holdings Corp.: Nasdaq/NYSE listing notice — CURO Group delisted from NYSE; forbearance extended to March 25 amid restructuring talks

CURO Group Holdings Corp.

NYSE suspended trading and initiated delisting on Mar 11, 2024; Form 25 filed Mar 14; effective 10 days later.
Company will not appeal; stock now trades on OTC Pink (CURO); intends to file Form 15 to terminate SEC registration.
Forbearance with 84% of 1.5L noteholders (7.500% due 2028) and 74% of 2.0L noteholders extended to Mar 25, 2024.
Lenders under 1.0L credit agreement extended waiver of cross-defaults (missed $25.6M and $11.9M interest payments) to Mar 25.
Company continues discussions with lenders on a comprehensive financial restructuring to strengthen balance sheet.

item 1.01 item 3.01 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

CURO Group Holdings Corp. received a nyse delisting notice notice regarding market value (rules 802.01B).

Exchange: nyse
Notice: delisting notice
Deficiency: market value
Rules: 802.01B

Exact text from the filing

March 11, 2024, the New York Stock Exchange (the “NYSE”) notified CURO Group Holdings Corp. (the “Company”), and publicly announced, that it had determined to commence proceedings to delist the Company’s common stock, par value $0.001 per share (the “Common Stock”), as a result of the Company’s non-compliance with Rule 802.01B of the NYSE Listed Company Manual, which requires listed companies to maintain an average global market capitalization over a consecutive 30 trading day period of at least $15 million. Trading in the Common Stock on the NYSE was suspended after market close on March 11

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

CURO Group Holdings Corp. amended 1.5L Notes Forbearance Agreement with certain beneficial owners (or nominees, investment managers, advisors or subadvisors for the beneficial owners) of approximately 84% of the outstanding aggregate principal amount of the Company’s outstanding 7.500% Senior 1.5 Lien Secured Notes due 2028 (effective 2024-03-15).

Action: amendment
Counterparty: certain beneficial owners (or nominees, investment managers, advisors or subadvisors for the beneficial owners) of approximately 84% of the outstanding aggregate principal amount of the Company’s outstanding 7.500% Senior 1.5 Lien Secured Notes due 2028
Effective: 2024-03-15

Exact text from the filing

On March 15, 2024, the Company received notices on behalf of 1.5L Forbearing Noteholders constituting Requisite Forbearing 1.5L Noteholders, consenting to an extension of the scheduled expiration date under the 1.5L Notes Forbearance Agreement to March 25, 2024.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

CURO Group Holdings Corp. amended 2.0L Notes Forbearance Agreement with certain beneficial owners (or nominees, investment managers, advisors or subadvisors for the beneficial owners) of approximately 74% of the outstanding aggregate principal amount of 7.500% Senior Secured Notes due 2028 (effective 2024-03-15).

Action: amendment
Counterparty: certain beneficial owners (or nominees, investment managers, advisors or subadvisors for the beneficial owners) of approximately 74% of the outstanding aggregate principal amount of 7.500% Senior Secured Notes due 2028
Effective: 2024-03-15

Exact text from the filing

On March 15, 2024, the Company received notice on behalf of 2.0L Forbearing Noteholders constituting Requisite Forbearing 2.0L Noteholders, consenting to an extension of the scheduled expiration date under the 2.0L Notes Forbearance Agreement to March 25, 2024.

View on SEC.gov

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Source: SEC EDGAR

accession 0001711291-24-000024

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