Hydrofarm Agrees to Retire $109 Million Secured Term Loan in Exchange for Preferred Stock, Warrants
Bitget2026/10/27 13:31- Hydrofarm agreed to extinguish its $109 million Senior Secured Term Loan by issuing 27,500,000 Series 1 Non-Voting Convertible Preferred Stock shares.
- Lenders will also receive warrants to purchase 27,500,000 common shares at an exercise price of $0.78 per share.
- Each preferred share converts into one common share; conversion and exercise of the Lender Warrants require shareholder approval.
- A concurrent registered direct offering and private placement priced at $0.905 are expected to raise approximately $8.3 million in gross proceeds.
- The offering is expected to close October 27, 2026, subject to customary conditions, with net proceeds earmarked for general corporate purposes.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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