AgileThought, Inc.: debt financing — AgileThought files Chapter 11, secures $22.7M DIP financing and stalking horse deal with Blue Torch

AgileThought, Inc.

Filed Chapter 11 on Aug 28, 2023 in Delaware; expects Nasdaq delisting (no appeal planned).
Blue Torch accelerated ~$93.6M debt on Aug 25; DIP financing of $119.9M includes $22.7M new money and $97.2M roll-up.
Blue Torch affiliate serves as stalking horse bidder for substantially all assets; sale process targets ~90-day timeline.
DIP facility terms: interest at Reference Rate+10% or SOFR+11%; 5% closing and exit fees on term loans.
Day-to-day operations continue; restructuring aims to reduce debt, infuse capital, and take company private.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.98

AgileThought, Inc. faced acceleration on credit facility of $93,640,057.55 with Blue Torch Finance LLC at Applicable Premium payable pursuant to Section 2.07(c) of the Financing Agreemen.

Instrument: credit facility
Principal: $93,640,057.55
Counterparty: Blue Torch Finance LLC
Rate: Applicable Premium payable pursuant to Section 2.07(c) of the Financing Agreemen
Event: acceleration

Exact text from the filing

under the Loan Documents to be “immediately due and payable” on and as of August 25, 2023. The Notice of Acceleration further noted that such Obligations are not less than $93,640,057.55 and that there are certain other amounts owing under the Financing Agreement, including accrued and unpaid interest, the Applicable Premium payable pursuant to Section 2.07(c) of

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Source: SEC EDGAR

accession 0001790625-23-000134

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