LiveWire Group enters $100M convertible loan facility with Harley-Davidson; no amounts drawn

LiveWire Group, Inc.

Convertible Delayed Draw Term Loan from Harley-Davidson, Inc. for up to $100M aggregate principal.
Interest rate: 6-month SOFR + 4.00% per annum; floating rate recalculated semi-annually.
Maturity: earlier of 24 months after first draw or October 31, 2026.
At maturity, if not cash-settled, converts to LiveWire common stock at 90% of 30-day VWAP.
No amounts drawn as of February 14, 2024; stockholder approval required for conversion above certain thresholds.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

LiveWire Group, Inc. entered into Convertible Delayed Draw Term Loan Agreement with Harley-Davidson, Inc. valued at $100 million (effective 2024-02-14).

Action: entry
Agreement: credit facility
Counterparty: Harley-Davidson, Inc.
Value: $100 million
Effective: 2024-02-14

Exact text from the filing

On February 14, 2024, LiveWire EV, LLC (the “Company”), a Delaware limited liability company and a subsidiary of LiveWire Group, Inc. (“Parent”), entered into a Convertible Delayed Draw Term Loan Agreement (the “Convertible Term Loa n ”) with Harley-Davidson, Inc. (“H-D”) providing for term loans from H-D to the Company in one or more advances up to an aggregate principal amount of $100 million.

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LiveWire Group, Inc. filing history →

Source: SEC EDGAR

accession 0001898795-24-000037

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