---
schema_version: "secwatch.filing_event.v1"
accession: "0001852633-25-000036"
form_type: "8-K/A"
ticker: null
cik: "0001852633"
company_name: "Pinstripes Holdings, Inc."
filed_at: "2025-03-07T23:59:59+00:00"
generated_at: "2026-05-25T03:58:13.814984+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

# Pinstripes enters LOI for recapitalization with Oaktree; receives $7.5M loan, to delist from NYSE

## Summary
- Oaktree will receive 85% of common stock; existing stockholders retain 15% plus warrants with upside at certain enterprise values.
- Company receives $7.5M Tranche 2 Loan from Oaktree at 20% PIK interest; proceeds restricted under control agreement.
- NYSE delisting effective after market close March 5, 2025 due to non-compliance with $15M market cap rule; stock now trades on OTC Pink.
- Current Oaktree loan defaults forbearance extended to March 31, 2025; company must retain consulting firm and board-appointed officer.
- Recapitalization closing subject to definitive docs and waiver of defaults from Silverview and Granite Creek lenders.

## SEC filing metadata
- accession: 0001852633-25-000036
- form_type: 8-K/A
- cik: 0001852633
- company_name: Pinstripes Holdings, Inc.
- filed_at: 2025-03-07T23:59:59+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, 3.01, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1852633/000185263325000036/0001852633-25-000036-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1852633/000185263325000036/pnst-20250305.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001852633-25-000036
- JSON: https://secwatch.observer/filing/0001852633-25-000036.json
- Plain text: https://secwatch.observer/filing/0001852633-25-000036.txt

## Key facts
- Debt Financings
  Pinstripes Holdings, Inc. incurred term loan of $7.5 million with Oaktree Capital Management, L.P. at 20% maturing December 29, 2028.
  - Instrument: term loan
  - Principal: $7.5 million
  - Counterparty: Oaktree Capital Management, L.P.
  - Rate: 20%
  - Maturity: December 29, 2028
  - Event: incurrence
  source text: On March 7, 2025, in connection with the closing of the Oaktree Third Amendment, the Oaktree Lenders will fund a Tranche 2 Loan in the amount of $7.5 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1852633/000185263325000036/0001852633-25-000036-index.htm
- Listing & Compliance Notices
  Pinstripes Holdings, Inc. received a nyse delisting notice notice regarding market value (rules 802.01B).
  - Exchange: nyse
  - Notice: delisting notice
  - Deficiency: market value
  - Rules: 802.01B
  source text: March 5, 2025, the NYSE notified the Company and publicly disclosed that it has determined to commence proceedings to delist the Company’s Common Stock, as a result of the Company’s non-compliance with Rule 802.01B of the NYSE Listed Company Manual that requires listed companies to maintain an average global market capitalization of at least $15 million over a period of 30 consecutive trading days. Trading of the Common Stock on the NYSE was suspended after market close on March 5, 2025. The NYSE will apply to the Securities and Exchange Commission (the “SEC”) to delist the Common Stock upon c
  evidence_url: https://www.sec.gov/Archives/edgar/data/1852633/000185263325000036/0001852633-25-000036-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.