Item 1.02 Termination of a Material Definitive Agreement.
On May 3, 2021, Aveanna Healthcare Holdings Inc., a Delaware corporation (the
"Company"), using a portion of the proceeds from its initial public offering
(the "Offering") of its common stock described in the prospectus dated April 28,
2021 (the "Prospectus"), filed with the Securities and Exchange Commission
pursuant to Rule 424(b) of the Securities Act of 1933, as amended, which is
deemed to be part of the Registration Statement on
Form S-1 (File No. 333-254981), (i) repaid in full all outstanding obligations
under that certain Second Lien Credit Agreement, dated as of March 16, 2017 (as
amended, the "Second Lien Credit Agreement"), by and among the Company (formerly
known as BCPE Eagle Buyer LLC) as borrower, Aveanna Healthcare Intermediate
Holdings LLC (formerly known as BCPE Eagle Intermediate Holdings, LLC), Royal
Bank of Canada, as administrative agent and collateral agent, and the lenders
party thereto, and (ii) terminated the Second Lien Credit Agreement. The
aggregate principal amount paid on May 3, 2021 to terminate the Second Lien
Credit Agreement was $307.0 million. In connection with the termination of the
Second Lien Credit Agreement, all security interests and pledges granted to the
secured parties thereunder were terminated and released. A description of the
terms and conditions of the Second Lien Credit Agreement is contained in the
Prospectus under the heading "Description of Certain Indebtedness-The Second
Lien Term Facility," and such description is incorporated by reference in this
Item 1.02.
Item 8.01 Other Events.
On May 4, 2021, using a portion of the proceeds from the Offering, the Company
repaid $100.0 million principal amount of its outstanding indebtedness under
that certain First Lien Credit Agreement, dated as of March 16, 2017 (as
amended, the "First Lien Credit Agreement"), by and among the Company (formerly
known as BCPE Eagle Buyer LLC) as borrower, Aveanna Healthcare Intermediate
Holdings LLC (formerly known as BCPE Eagle Intermediate Holdings. LLC), Barclays
Bank PLC, as administrative agent and collateral agent, and the lenders party
thereto. In addition, on May 4, 2021, the Company satisfied the conditions
precedent under the First Lien Credit Agreement to increase the total available
revolving commitment thereunder by $125.0 million to an aggregate of
$200.0 million.
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