--- schema_version: "secwatch.filing_event.v1" accession: "0001807707-23-000110" form_type: "8-K" ticker: null cik: "0001807707" company_name: "AppHarvest, Inc." filed_at: "2023-07-28T23:59:59+00:00" generated_at: "2026-06-12T23:14:51.570275+00:00" event_type: "other_material" sentiment: "negative" materiality_score: 1.0 calibrated_materiality_score: 1.0 confidence: "high" source: SEC EDGAR --- # AppHarvest enters Chapter 11 restructuring with $29.6M DIP facility from Equilibrium ## Summary - Restructuring Support Agreement signed July 24; Chapter 11 cases to be filed in Bankruptcy Court. - DIP facility of $29.6M (12% interest) from Equilibrium; includes $24.3M new money plus roll-up loan. - Stalking horse asset purchase agreement for certain facilities; Berea facility transferred to Mastronardi Berea for $3.75M. - Immediate $2M advance on July 26; additional $6M conditional, then two more draws totaling balance. - Company warns trading in securities is highly speculative during Chapter 11 pendency. ## SEC filing metadata - accession: 0001807707-23-000110 - form_type: 8-K - cik: 0001807707 - company_name: AppHarvest, Inc. - filed_at: 2023-07-28T23:59:59+00:00 - event_type: other_material - sentiment: negative - materiality_score: 1.0 - calibrated_materiality_score: 1.0 - confidence: high - sec_items: 1.01, 2.03, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1807707/000180770723000110/0001807707-23-000110-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1807707/000180770723000110/apph-20230724.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001807707-23-000110 - JSON: https://secwatch.observer/filing/0001807707-23-000110.json - Plain text: https://secwatch.observer/filing/0001807707-23-000110.txt ## Key facts - Debt Financings AppHarvest, Inc. amended credit facility of $2,000,000, $6,000,000, $4 million, and the remaining balance with Equilibrium at 12.0% (referenced from DIP Credit Agreement, unchanged) maturing same as DIP Credit Agreement, referenced. - Instrument: credit facility - Principal: $2,000,000, $6,000,000, $4 million, and the remaining balance - Counterparty: Equilibrium - Rate: 12.0% (referenced from DIP Credit Agreement, unchanged) - Maturity: same as DIP Credit Agreement, referenced - Event: amendment source text: shall be made available in multiple draws over the term of the DIP Facility. Pursuant to the terms and conditions of the Amended DIP Credit Agreement, the Lender advanced $2,000,000 to the Company on July 26, 2023 and shall advance an additional $6,000,000 upon the satisfaction of certain terms in the Amended DIP Credit Agreement (such advances, collectively, evidence_url: https://www.sec.gov/Archives/edgar/data/1807707/000180770723000110/0001807707-23-000110-index.htm - Material Agreements AppHarvest, Inc. amended First Amendment to Credit Agreement with DIP Parties (Debtors and Equilibrium) (effective 2023-07-26). - Action: amendment - Agreement: credit facility - Counterparty: DIP Parties (Debtors and Equilibrium) - Effective: 2023-07-26 source text: On July 26, 2023, the DIP Parties entered into that certain First Amendment to Credit Agreement (the “ DIP Amendment ”, and together with the DIP Credit Agreement, the “ Amended DIP Credit Agreement ”). evidence_url: https://www.sec.gov/Archives/edgar/data/1807707/000180770723000110/0001807707-23-000110-index.htm - Material Agreements AppHarvest, Inc. entered into Restructuring Support Agreement with CEFF II AppHarvest Holdings, LLC, Mastronardi Produce Limited, Mastronardi Berea LLC (effective 2023-07-24). - Action: entry - Counterparty: CEFF II AppHarvest Holdings, LLC, Mastronardi Produce Limited, Mastronardi Berea LLC - Effective: 2023-07-24 source text: On July 24, 2023, AppHarvest, Inc., (the “ Company ”) entered into a Restructuring Support Agreement (including all exhibits thereto, collectively, the “ RSA ”) with (i) each of its affiliates (as set forth in the RSA, and together with the Company, the “ Debtors ”), (ii) CEFF II AppHarvest Holdings, LLC (“ Equilibrium ”); (iii) Mastronardi Produce Limited (“ Mastronardi ”); and (iv) Mastronardi Berea LLC (“ Mastronardi Berea ”, and together with Equilibrium and Mastronardi, the “ Non-Company Parties ”). evidence_url: https://www.sec.gov/Archives/edgar/data/1807707/000180770723000110/0001807707-23-000110-index.htm - Material Agreements AppHarvest, Inc. entered into Senior Secured Super-Priority Debtor-In-Possession Credit Agreement with Equilibrium (as lender) valued at up to approximately $24.3 million (effective 2023-07-25). - Action: entry - Agreement: credit facility - Counterparty: Equilibrium (as lender) - Value: up to approximately $24.3 million - Effective: 2023-07-25 source text: On July 25, 2023, the Company, as borrower, and its Debtor affiliates, as guarantors, entered into that certain Senior Secured Super-Priority Debtor-In-Possession Credit Agreement (the “ DIP Credit Agreement ”) with Equilibrium, as lender (the “ Lender ”, and together with the Company and its Debtor affiliates, the “ DIP Parties ”), pursuant to which the Lender agreed to provide the Company with a debtor-in-possession, super-priority, senior secured loan credit facility (the “ DIP Facility ”) which consists of (i) a new money multiple-draw delayed draw term loan (“ New Money Facility ”) in the initial aggregate principal amount of up to approximately $24.3 million and (ii) a loan in an amount equal to the Roll-Up Loan Amount (as defined in the DIP Credit Agreement). evidence_url: https://www.sec.gov/Archives/edgar/data/1807707/000180770723000110/0001807707-23-000110-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.