Hydrofarm Eliminates $109 Million Term Loan in Exchange for Preferred Stock, Warrants
Bitget2026/10/28 11:35- Hydrofarm eliminated its $109 million Senior Secured Term Loan, removing approximately $12 million in annual debt service.
- Lenders received 27,500,000 shares of Series 1 Non-Voting Convertible Preferred Stock, each convertible into one common share.
- They also received warrants to purchase 27,500,000 common shares at an exercise price of $0.78 per share.
- Preferred stock conversion and Lender Warrants exercise require stockholder approval, which will be sought as promptly as practicable.
- A concurrent registered direct offering and private placement raised approximately $8.3 million in gross proceeds for general corporate purposes.
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