The Arena Group Holdings, Inc. has entered into a new Loan Agreement with Renew Group Private Limited for a term loan of $97,691,000. The proceeds were used to refinance the company's existing term loan obligations with Renew and for general corporate purposes.
Key Details
- Loan Amount & Term: The loan totals $97,691,000, bears a 10.00% annual interest rate, and matures on August 6, 2029.
- Repayment Schedule: Interest payments are due quarterly starting September 30, 2026. Principal payments of $1,000,000 are due quarterly beginning September 30, 2027, with the remaining balance due at maturity.
- Financial Covenants: The agreement includes financial covenants such as a minimum fixed charge coverage ratio of 1.20 to 1.00 and a maximum total net leverage ratio of 3.5 to 1.00, tested quarterly.
- Security: The loan is guaranteed by the company's subsidiaries and secured by a first-priority security interest in substantially all assets of the company and its guarantors.