secwatch.observer — SEC 8-K summary
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Issuer:     Grove Collaborative Holdings, Inc. (GROV)
CIK:        0001841761
Form:       8-K
Filed at:   2022-12-27T23:59:59+00:00
Accession:  0001841761-22-000086
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Grove Collaborative secures $72M term loan, issues ~4.95M shares to lenders
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- Four-year $72M term loan replaces existing SVB credit facilities; interest at greater of 15% or prime+7.5%.
- Principal repayment begins July 2025; loan matures December 2026.
- Issued 3,437,500 shares to Structural and 1,512,500 shares to Avenue; potential additional shares if obligations remain.
- Proceeds used to refinance existing debt and fund operations; company targets profitability in 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1841761/000184176122000086/0001841761-22-000086-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1841761/000184176122000086/grov-20221221.htm
  HTML page:      https://secwatch.observer/filing/0001841761-22-000086

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer