ITEM 8.01 OTHER EVENTS.

On October 12, 2021, certain holders of the Company's warrants elected to exercise their "accordion right" in full and purchased from the Company $3,000,000 in aggregate principal amount of the Company's 7.00% Senior Subordinated Convertible Notes due 2031 (the "Notes").

This "accordion right" was granted under the terms of the Company's registration rights agreement, dated as of March 12, 2021, that was entered into concurrently with the financing agreement, by and among the Company, as borrower, certain subsidiaries of the Company from time to time party thereto, the lenders from time to time party thereto, and Wilmington Savings Fund Society, FSB, as administrative agent and collateral agent.

The "accordion right" allowed those holders to elect during the sixty days following the consummation of the Company's Rights Offering (which expired on August 13, 2021) to purchase an additional amount of Notes (on the same terms as those offered in the Rights Offering) in the aggregate principal amount of up to 10% of the aggregate principal amount of the Notes offered in the Rights Offering.

The information in this Form 8-K filed pursuant to Item 8.01 does not constitute an offer to sell or a solicitation of an offer to buy the Notes described herein, nor shall there be any sale of these Notes in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.





                                       1

© Edgar Online, source Glimpses