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8-K: Current report

8-K: Current report

8-K:重大事件
美股SEC公告 ·  09/24 05:18

Moomoo AI 已提取核心訊息

On September 17, 2024, B. Riley Financial amended its credit agreement, repaying $85.9M of term loans, reducing the outstanding principal to $388.1M, and terminating its $100M revolving credit facility. The amendment increased interest rates, revised financial covenants, and mandated a reduction of term loans to $100M or less by September 30, 2025.Key changes include: SOFR Loans to accrue interest at Adjusted Term SOFR plus 7.00% cash or 6.00% cash plus 1.50% PIK; Base Rate Loans at Base Rate plus 6.00% cash or 5.00% cash plus 1.50% PIK. Financial covenants now require Total Net Leverage Ratio ≤ 10.00:1.00, Interest Coverage Ratio ≥ 1.00:1.00, and Liquidity ≥ $60M.Separately, on September 20, 2024, Kenny Young resigned as President of B. Riley Financial and CEO of B. Riley Principal Investments. He will continue as a consultant for one year, earning $250,000 annually. Young also transitioned from his role as CEO of Babcock & Wilcox Enterprises, now serving through his own entity.
On September 17, 2024, B. Riley Financial amended its credit agreement, repaying $85.9M of term loans, reducing the outstanding principal to $388.1M, and terminating its $100M revolving credit facility. The amendment increased interest rates, revised financial covenants, and mandated a reduction of term loans to $100M or less by September 30, 2025.Key changes include: SOFR Loans to accrue interest at Adjusted Term SOFR plus 7.00% cash or 6.00% cash plus 1.50% PIK; Base Rate Loans at Base Rate plus 6.00% cash or 5.00% cash plus 1.50% PIK. Financial covenants now require Total Net Leverage Ratio ≤ 10.00:1.00, Interest Coverage Ratio ≥ 1.00:1.00, and Liquidity ≥ $60M.Separately, on September 20, 2024, Kenny Young resigned as President of B. Riley Financial and CEO of B. Riley Principal Investments. He will continue as a consultant for one year, earning $250,000 annually. Young also transitioned from his role as CEO of Babcock & Wilcox Enterprises, now serving through his own entity.
在2024年9月17日,B. Riley Financial修訂了其信貸協議,償還了8590萬美元的定期貸款,使未償還本金減少到38810萬美元,並終止了其10000萬美元的循環信貸額度。修訂提高了利率,修訂了財務契約,並要求在2025年9月30日之前將定期貸款減少到1億美元或更少。關鍵變化包括:SOFR貸款的利息累積爲調整後的期限SOFR加7.00%現金或6.00%現金加1.50%PIK;基礎利率貸款爲基礎利率加6.00%現金或5.00%現金加1.50%PIK。財務契約現在要求總淨槓桿率≤10.00:1.00,利息覆蓋率≥1.00:1.00,以及流動性≥6000萬美元。另外,在2024年9月...展開全部
在2024年9月17日,B. Riley Financial修訂了其信貸協議,償還了8590萬美元的定期貸款,使未償還本金減少到38810萬美元,並終止了其10000萬美元的循環信貸額度。修訂提高了利率,修訂了財務契約,並要求在2025年9月30日之前將定期貸款減少到1億美元或更少。關鍵變化包括:SOFR貸款的利息累積爲調整後的期限SOFR加7.00%現金或6.00%現金加1.50%PIK;基礎利率貸款爲基礎利率加6.00%現金或5.00%現金加1.50%PIK。財務契約現在要求總淨槓桿率≤10.00:1.00,利息覆蓋率≥1.00:1.00,以及流動性≥6000萬美元。另外,在2024年9月20日,肯尼·楊辭去了B. Riley Financial的總裁和B. Riley Principal Investments的首席執行官職務。他將繼續擔任顧問一年,年薪爲250,000美元。楊還從Babcock & Wilcox Enterprises的首席執行官角色轉變,現在通過自己的實體繼續服務。
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