Bondoro Insights: Weekly Docket Update

This Week's Key Filings

Inspired Healthcare Capital Holdings, LLC (Filed Feb. 2)

• Case Summary – Published Feb. 4
  • Inspired Healthcare Capital has filed for Chapter 11 bankruptcy amid an SEC investigation and allegations of fund mismanagement, seeking to pursue a sale of its senior living portfolio backed by $35 million in DIP financing from Lapis Municipal Opportunities Fund V, LP.
• DIP Terms – Published Feb. 4
  • Inspired Healthcare Capital filed a motion seeking interim and final approval for a $35 million super-priority DIP facility from Lapis Municipal Opportunities Fund V LP, split between a $10 million initial draw and a $25 million delayed-draw tranche, carrying 11.5% PIK interest and a 1.25% PIK commitment fee while maturing 365 days post-petition subject to two six-month extension options.

Carbon Health Technologies Inc. (Filed Feb. 2)

• DIP Terms – Published Feb. 4
  • Carbon Health obtained interim approval for a $19.5 million new-money DIP facility from Future Solution Investments, structured as a delayed-draw term loan with up to $9 million available on an interim basis and the full $19.5 million available upon entry of the final order.
• Bidding Procedures – Published Feb. 4
  • Carbon Health filed an emergency motion to establish bidding procedures for a sale of substantially all assets, proposing a March 6 bid deadline and March 11 auction, with the process structured as a dual-track mechanism allowing the debtor to toggle to a debt-for-equity plan reorganization if cash bids fail to satisfy DIP and prepetition secured obligations in full.
• Case Summary – Published Feb. 2
  • Carbon Health Technologies has filed for Chapter 11 bankruptcy amid persistent liquidity constraints and an unsustainable cost structure, pursuing a dual-track sale or debt-for-equity reorganization backed by DIP financing from its prepetition lenders.

Nine Energy Service, Inc. (Filed Feb. 1)

• DIP Terms – Published Feb. 4
  • Nine Energy Service obtained interim approval for a $125 million White Oak Commercial Finance-led revolving DIP facility that effects a full cashless rollup of prepetition ABL obligations, priced at SOFR+4% and maturing 120 days post-closing.
• Case Summary – Published Feb. 2
  • Nine Energy Service has filed for Chapter 11 bankruptcy to address an overleveraged capital structure amid depressed commodity prices and declining rig counts, pursuing a prepackaged debt-for-equity restructuring backed by a $125 million DIP facility from existing lenders.
• RSA Terms – Published Feb. 2
  • Nine Energy Service's restructuring support agreement outlines a prepackaged Chapter 11 recapitalization whereby senior secured noteholders acquire 100% of the reorganized equity, existing shareholders are wiped out, and general unsecured claims remain unimpaired.

Multi-Color Corporation (Filed Jan. 29)

• DIP Terms – Published Feb. 4
  • Multi-Color Corporation secured interim approval for a $657.5 million super-priority DIP facility administered by Acquiom Agency Services and Seaport Loan Products, consisting of a $250 million new-money term loan available in equal interim and final draws that unlocks a corresponding $250 million dollar-for-dollar rollup of prepetition debt, alongside a $150 million incremental tranche, with the facility carrying interest at SOFR+6.75% and maturing 10 months from the interim order date.
• Case Summary – Published Jan. 29
  • Multi-Color Corporation has filed for a prepackaged Chapter 11 bankruptcy to reduce net debt by $3.9 billion and raise $889 million in new money, driven by supply chain disruptions and declining demand, supported by $657.5 million in DIP financing.
• RSA Terms – Published Jan. 29
  • Multi-Color’s prepackaged reorganization plan facilitates a $3.9 billion reduction in net debt through a balance sheet recapitalization anchored by $889 million in new equity, whereby sponsor CD&R contributes $400 million alongside a backstopped $489 million preferred equity raise, leaving the company with over $550 million in liquidity at emergence.

Pretium Packaging, L.L.C. (Filed Jan. 28)

• DIP Summary – Published Feb. 4
  • Pretium PKG Holdings secured interim approval for a $533.5 million DIP term loan facility, comprising $401 million in new-money loans to refinance first lien Tranche A debt and $132.5 million in delayed draw commitments, and a $100 million DIP ABL roll-up facility, priced at SOFR+5.25% and SOFR+3.50%, respectively.
• Case Summary – Published Jan. 29
  • Pretium Packaging has filed for a prepackaged Chapter 11 bankruptcy to reduce approximately $900 million in debt, following post-pandemic demand normalization and Alpha Packaging acquisition integration challenges, supported by up to $633.5 million in DIP financing.
• RSA Terms – Published Jan. 29
  • Pretium Packaging’s restructuring support agreement outlines a prearranged Chapter 11 plan designed to eliminate approximately $900 million in funded debt, facilitated by a $533.5 million backstopped DIP facility that refinances Tranche A claims in full before converting to exit debt, whereby First Lien Tranche A-1 lenders assume control through 72.5% of the new equity and $500 million in second-out term loans while sponsor Clearlake acquires a 21.9% stake via a $50 million new money investment.

FLOAT Alaska LLC (filed Jan. 26)

• DIP Terms – Published Feb. 4
  • New Pacific Airlines and affiliated debtors obtained interim approval for a $3.23 million DIP facility from Jones Holding, with $250,000 available immediately and a $400,000 second draw conditioned on delivery of an Anchorage real estate mortgage within 14 days, featuring a 1:1 interim cashless rollup against new-money advances and Prime + 5% PIK interest.
• Bidding Procedures Summary – Published Feb. 4
  • FLOAT Alaska filed a motion to establish bidding procedures for a sale of substantially all assets, including three Boeing 757 aircraft and a Part 121 air carrier certificate, proposing a March 16 bid deadline and March 18 auction, while seeking authority to designate a stalking horse bidder by March 2 with a proposed 3% break-up fee, subject to the credit bidding rights of DIP lender Jones Holding.

Saks Global Enterprises LLC (Filed Jan. 14)

• Consulting Agreement Summary – Published Feb. 4
  • Saks Global obtained interim approval of a consulting agreement with GA Retail Solutions to conduct store closing sales, authorizing the liquidation of merchandise and FF&E commencing no later than Feb. 6 in exchange for a sliding-scale fee ranging from 2% to 2.4% of gross recoveries on cost and a 15% commission on FF&E proceeds.

STG Logistics, Inc. (Filed Jan. 12)

• Bidding Procedures Summary – Published Feb. 4
  • STG Logistics filed a motion to establish bidding procedures for a sale of substantially all assets, proposing a March 13 bid deadline and March 20 auction, while seeking authority to designate a stalking horse bidder with up to a 3% break-up fee and requiring qualified bids to meet minimum recovery thresholds for DIP and first lien creditors.

United Site Services (Filed Dec. 29)

• DIP Terms – Published Feb. 4
  • United Site Services secured final approval for a $120 million superpriority DIP term loan facility administered by Wilmington Savings Fund Society, split between a $62.5 million interim draw and a $57.5 million final tranche, priced at Term SOFR + 7.75% and carrying a 7.5% PIK backstop fee alongside a 2% PIK upfront fee.

GST, Inc. (Filed Dec. 11)

• DIP Terms – Published Feb. 4
  • GST secured final approval for a $4.7 million DIP facility from Winners Alliance that structures a $2.35 million rollup of prepetition debt on a dollar-for-dollar basis against a $2.35 million new-money component, carrying 9% PIK interest and a 2% exit fee on new money advances.

Tedder Industries, LLC (Filed Dec. 8)

• Bidding Procedures – Published Feb. 4
  • Tedder Industries filed an emergency motion to establish bidding procedures for a sale of substantially all assets, proposing a March 12, 2026 bid deadline and March 18, 2026 auction, while seeking authority to designate a stalking horse bidder subject to a 1.5% aggregate bid protection cap.

SpiriTrust Lutheran (Filed Nov. 21)

• APA Summary – Published Feb. 4
  • SpiriTrust Lutheran obtained approval to sell substantially all assets to successful bidder Concordia Lutheran Ministries for $51 million in cash and the assumption of liabilities, in addition to a $45 million capital infusion commitment, following a Jan. 22 auction.

Buckingham Senior Living Community, Inc. (Filed Nov. 17)

• APA Summary – Published Feb. 4
  • Buckingham Senior Living Community obtained approval to sell substantially all assets to Focus SH Acquisitions LLC for approximately $129.15 million, comprised of $116.4 million in cash plus resident rebate and discount funds, following a Jan. 21-22 auction that generated $15.25 million in incremental value over the stalking horse bid, with Kong Capital LLC designated as backup bidder.

Office Properties Income Trust (Filed Oct. 30)

• DIP Terms – Published Feb. 4
  • Office Properties Income Trust obtained final approval for a $125 million multiple-draw DIP facility administered by Acquiom Agency Services, comprising a $10 million fully funded interim draw and a $115 million final term loan split between a $75 million Tranche A and a $40 million Tranche B, priced at 12% per annum.

Groff Tractor Mid Atlantic, LLC (Filed Oct. 14)

• DIP Terms – Published Feb. 4
  • Groff Tractor obtained approval for an amendment to its final DIP order authorizing $2.7 million in supplemental advances from M&T Bank to fund operations pending a sale, structuring a 50/50 allocation of case expenses between the DIP lender and participating floor plan lenders subject to a $2.65 million cap for CNH Capital, and mandating a transaction closing by February 17, 2026.
• APA Summary – Published Feb. 4
  • Groff Tractor obtained approval to sell substantially all assets to LB Advisors for approximately $50.3 million in total consideration, consisting of $22 million in cash and the assumption of roughly $28.3 million in floor plan obligations, following the conclusion of a Jan. 21-22 auction.

White Wilson Medical Center PA (Filed Oct. 3)

• APA Summary – Published Feb. 4
  • White-Wilson Medical Center filed a notice designating Kain Capital as the stalking horse bidder for a sale of substantially all assets, proposing a split acquisition structure valued at approximately $32.7 million comprised of cash, equity and assumed liabilities, subject to a 3% break-up fee and expense reimbursement.

Navidea Biopharmaceuticals, Inc. (Filed Oct. 1)

• APA Summary – Published Feb. 4
  • Navidea Biopharmaceuticals obtained approval of the sale of substantially all assets to Cardinal Health 414, LLC for $11.95 million in cash plus the assumption of certain liabilities following a Jan. 22 auction, designating John K. Scott, Jr. as the back-up bidder.

Partners Pharmacy Services, LLC (Filed Aug. 13)

• APA Summary – Published Feb. 4
  • Partners Pharmacy Services filed a notice of closing regarding the sale of substantially all hospice and long-term care assets to stalking horse bidder CS One, LLC, consummating a transaction with a purchase price comprised of a credit bid of approximately $51 million in prepetition and DIP obligations.

Palm Greens Recreation Association (Filed Jan. 28)

• Case Summary – Published Jan. 29
  • Palm Greens Recreation Association has filed for Chapter 11 bankruptcy to consolidate litigation and protect operations amid disputes with a stockholder over allegedly diverted reserves and developers over replacement facility construction delayed by approximately four years.

About Bondoro Insights Summaries

Our goal with Bondoro Insights is to provide you with faster, broader coverage on active Chapter 11 cases. These summaries are generated by Bondoro's proprietary AI, tuned on our historical coverage and validated against source filings. While accuracy is a priority, they are intended for immediate informational purposes, may contain errors, and are not a substitute for professional or legal advice. Please refer to the source filings for definitive information.

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