secwatch.observer — SEC 8-K summary
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Issuer:     AppHarvest, Inc. (—)
CIK:        0001807707
Form:       8-K
Filed at:   2023-07-28T23:59:59+00:00
Accession:  0001807707-23-000110
Event type: other_material
Sentiment:  negative
Materiality: 1.00
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

AppHarvest enters Chapter 11 restructuring with $29.6M DIP facility from Equilibrium
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1807707/000180770723000110/0001807707-23-000110-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1807707/000180770723000110/apph-20230724.htm
  HTML page:      https://secwatch.observer/filing/0001807707-23-000110

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