The US Bankruptcy Court gave an order to Teligent, Inc. to obtain DIP financing on an interim basis on October 15, 2021. As per the order, the debtor has been authorized to obtain a revolving credit facility in the amount of $3 million from ACF Finco I LP, Ares Capital Corporation, Cion Ares Diversified Credit Fund, Ares Centre Street Partnership, L.P., and Ares Credit Strategies Insurance Dedicated Fund Series Interest Of Sali Multi-Series Fund, L.P.; and a DIP junior new money term loans facility of $3 million with ACF Finco I LP and Ares Capital Corporation acting as the administrative agent. The total DIP financing available to debtor consists of a Senior Revolving Credit Facility of $6 million, Senior Roll-Up Term Loans of $15 million plus accrued and unpaid interest and fees in the amount of $1.44 million, DIP Junior New Money Term Loan Facility of $6 million, and a Junior Roll-Up Term Loans of $18 million plus accrued and unpaid interest thereon. The lenders of DIP Junior New Money Term Loan Facility and Junior Roll-Up Term Loans are Ares Capital Corporation, Cion Ares Diversified Credit Fund, Ares Center Street Partnership, L.P., Ares Credit Strategies Insurance Dedicated Fund Series Interest of Sali Multi-Series Fund, L.P., and Ares Commercial Finance, L.P. The DIP Revolving Loans and DIP Senior Term Loans would either carry an interest rate of 6.5% p.a. for Euro dollar loans and 5.5% p.a. for ABR loans, and with respect to DIP Junior New Money Term Loan Facility and RollUp Junior Term Loan Facility, an interest rate of 8.5% p.a. for Eurodollar loans and 7.5% p.a. for ABR loans. As per the terms of the DIP agreement, the loan carries an upfront fee on the original aggregate amount of revolving loan commitments and delayed draw term loan commitments of such lender made available to the borrower on the closing date, in an amount equal to 1.00% of its pro rata share of such commitments of such lender as of the closing date, an exit fee of 1% and a unused line fee of 0.50% of the undrawn commitment. The DIP facility would mature either on January 31, 2022 or on the effective date of the plan or on the date of consummation of the sale of substantially all assets or the date on which all amounts owed under the DIP credit agreement become due and payable and the commitments are terminated under the DIP documents, whichever is earlier. Adequate protection would be provided to the DIP lenders in the form of super-priority administrative expense claims which is subject to a carve-out of $0.05 million towards trustee under Bankruptcy Code, $0.25 million towards debtor professionals and $0.05 million towards the committee professionals and first priority lien upon and security interest in the debtor?s collateral. The final hearing shall be held on November 9, 2021. The proceeds of the DIP financing would be used in accordance with the terms of the DIP budget and the terms of the DIP orders or any other order entered by the Bankruptcy Court, including, without limitation, for the payment of fees and expenses incurred through the closing date in connection with the credit documents, general corporate purposes and obligations benefiting from the carve out.