The US Bankruptcy Court gave an order to View Inc. to obtain DIP financing on an interim basis on April 4, 2024. As per the order, the debtor has been authorized to obtain a term loan facility in the amount of $10 million out of $17.5 million from RXR FP Investor LP, RXR FP Investor II LP, RXR FP Investor III LP, RXR FP Investor IV LP, RXR FP GP LLC, RXR FP Investor II, RXR FP Investor III and RXR FP Investor IV with Cantor Fitzgerald Securities acting as the administrative agent. The DIP loan would either carry an interest rate of SOFR plus 7.50% p.a., with a LIBOR floor of 2% p.a., along with an additional 2% p.a. interest in the event of default.

As per the terms of the DIP agreement, the loan carries a closing fee of 3% and commitment fee of 2% p.a. The DIP facility would mature either on 90 days after the petition date or on the effective date of the plan or on the date of consummation of the sale of substantially all assets, 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 $0.50 million towards unpaid professional fees / administrative expenses and first priority lien upon and security interest in the debtor?s collateral. The final hearing shall be scheduled within 35 days of entry of interim order.