{"schema_version":"secwatch.filing_event.v1","accession":"0001772695-25-000016","form_type":"8-K","ticker":null,"cik":"0001772695","company_name":"Sunnova Energy International Inc.","filed_at":"2025-03-03T23:59:59+00:00","discovered_at":"2026-05-14T18:03:04.806958+00:00","generated_at":"2026-05-25T19:45:25.758883+00:00","sec_items":["1.01","2.03","5.02","9.01"],"event_type":"debt","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Sunnova secures $185M term loan at 15% interest; cancels 2024 NEO bonuses, awards RSUs","bullets":["$185M secured term loan facility at 15% interest, 3-year maturity, used for working capital.","$10M original issue discount/cash fee for lenders; prepayment subject to 1.30x MOIC.","Loan secured by pledges of membership interests in subsidiaries owning residual interests in existing securitization transactions.","No 2024 annual incentive bonuses paid to NEOs despite 89.41% corporate metric achievement; Committee cited stock price and market challenges.","Long-term RSU grants approved: Williams $2.5M, Matthews $2.4M, Grasso $2.4M, Searle $1.4M; vest in 3 years."],"urls":{"canonical":"https://secwatch.observer/filing/0001772695-25-000016","json":"https://secwatch.observer/filing/0001772695-25-000016.json","markdown":"https://secwatch.observer/filing/0001772695-25-000016.md","text":"https://secwatch.observer/filing/0001772695-25-000016.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1772695/000177269525000016/0001772695-25-000016-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1772695/000177269525000016/nova-20250303.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-25T19:45:25.758883+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"60f631cdd50a0241b9f11323c3331083ee4594fa","claim":"Sunnova Energy International Inc. incurred term loan of $185 million with Wilmington Trust, National Association, as Agent at 15.00% per annum maturing three years from the closing date.","evidence_excerpt":"The Loan Agreement provides for a $185 million secured term loan facility (the “Facility”), subject to customary closing conditions.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1772695/000177269525000016/0001772695-25-000016-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Principal","value":"$185 million"},{"label":"Counterparty","value":"Wilmington Trust, National Association, as Agent"},{"label":"Rate","value":"15.00% per annum"},{"label":"Maturity","value":"three years from the closing date"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}