Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
SmileDirectClub, Inc. incurred term loan of up to $80,000,000 with Cluster Holdco LLC, as administrative agent and collateral agent at 17.5% maturing December 29, 2023.
- Instrument
- term loan
- Principal
- up to $80,000,000
- Counterparty
- Cluster Holdco LLC, as administrative agent and collateral agent
- Rate
- 17.5%
- Maturity
- December 29, 2023
- Event
- incurrence
Exact text from the filing
have entered into a senior secured superpriority delayed‐draw debtor-in-possession term loan facility (the “DIP Credit Agreement”) in an aggregate principal amount of up to $80,000,000 (the “DIP Facility”), subject to the terms and conditions set forth therein. The DIP Facility is comprised of (a) upon entry of an interim order of the Bankruptcy Court approving
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Listing & Compliance Notices
SEC 8-K Item 3.01
confidence 0.95
SmileDirectClub, Inc. received a nasdaq delisting notice notice regarding other (rules 5101, 5110(b), IM-5101-1).
- Exchange
- nasdaq
- Notice
- delisting notice
- Rules
- 5101, 5110(b), IM-5101-1
Exact text from the filing
October 2, 2023, the Company received written notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that in accordance with Nasdaq Listing Rules 5101, 5110(b) and IM-5101-1, Nasdaq had determined that the Company’s securities will be delisted from Nasdaq. Trading of the Company’s common stock will be suspended at the opening of business on October 4, 2023, and Nasdaq will file a Form 25-NSE with the Securities and Exchange Commission, which will remove the Company’s securities from listing and registration on Nasdaq. The Company expec
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
SmileDirectClub, Inc. entered into Forbearance Agreement with certain of its lenders (effective 2023-09-29).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- certain of its lenders
- Effective
- 2023-09-29
Exact text from the filing
On September 29, 2023, SDC U.S. SmilePay SPV (“SDC SVP”), SmileDirectClub, LLC (“SDC LLC”) and SDC Financial LLC entered into a Forbearance Agreement (the “Forbearance Agreement”) and Restructuring Plan Term Sheet (“Term Sheet”) with certain of its lenders (the “Forbearance Lenders”) in connection with that certain Loan Agreement by and among SDC SVP as borrower, SDC LLC as seller and servicer, HPS Investment Partners, LLC (“HPS”) as administrative agent and collateral agent, and the lenders from time to time party thereto (the “HPS Loan Facility”).
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
SmileDirectClub, Inc. entered into DIP Credit Agreement with Cluster Holdco LLC valued at up to $80,000,000.
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Cluster Holdco LLC
- Value
- up to $80,000,000
Exact text from the filing
SmileDirectClub, Inc. (the “Company”), SDC Financial LLC (the “Borrower”, together with the Company and certain of the Company’s subsidiaries, the “Debtors”), the lenders from time to time party thereto (each, a “DIP Lender” and together the “DIP Lenders”), and Cluster Holdco LLC, as administrative agent for the DIP Lenders (in such capacity, the “Administrative Agent”) and as collateral agent for the DIP Lenders (in such capacity, the “Collateral Agent”) have entered into a senior secured superpriority delayed‐draw debtor-in-possession term loan facility (the “DIP Credit Agreement”) in an aggregate principal amount of up to $80,000,000 (the “DIP Facility”), subject to the terms and conditions set forth therein.
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