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Contract analysis / email-mezz-ad-hoc-meeting-april.eml
email-mezz-ad-hoc-meeting-april.eml
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1. Calderwood & Harkness and the Company will circulate the following materials to Thornbu
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⚑ Confidentiality undertaking
1. Calderwood & Harkness and the Company will circulate the following materials to Thornbury McCaffrey and Meridian Veltrian Partners, subject to execution of appropriate NDAs and confidentiality provisions to the extent not already in place: - Management financial projections (FY 2023E–2027E); - Summary of proposed terms for the super-priority facility; and - Draft of the proposed pro forma capital structure and equ
2. The Company's financial advisor, Hargrove Advisory Group (Elena Voss), will coordinate
2. The Company's financial advisor, Hargrove Advisory Group (Elena Voss), will coordinate directly with Meridian Veltrian Partners on financial diligence matters.
3. We are targeting mid-to-late May 2023 for the circulation of an initial restructuring t
3. We are targeting mid-to-late May 2023 for the circulation of an initial restructuring term sheet that will formalize the proposed terms discussed today.
4. For context, the first meeting with the first lien lender group (Pinnacle National Bank
4. For context, the first meeting with the first lien lender group (Pinnacle National Bank, N.A. as administrative agent, with Westlake Harden & Cole LLP as lenders' counsel) took place on April 14, 2023, and the Company is pursuing parallel dialogue with both creditor constituencies.
5. We would propose scheduling a follow-up meeting in approximately two to three weeks to
5. We would propose scheduling a follow-up meeting in approximately two to three weeks to continue substantive discussions. Please let us know your team's availability and we will coordinate. **VIII. Closing** We want to express our appreciation for the constructive tone of today's meeting and the ad hoc group's willingness to engage on a consensual basis. The Company's strong preference remains to avoid a bankruptcy