{"id":39000,"date":"2022-12-31T09:47:45","date_gmt":"2022-12-31T09:47:45","guid":{"rendered":"http:\/\/www.brandon.ddtest.info\/multisite-test\/grove-refinances-existing-debt-extends-maturity\/"},"modified":"2022-12-31T09:47:45","modified_gmt":"2022-12-31T09:47:45","slug":"grove-refinances-existing-debt-extends-maturity","status":"publish","type":"post","link":"http:\/\/www.brandon.ddtest.info\/multisite-test\/grove-refinances-existing-debt-extends-maturity\/","title":{"rendered":"Grove Refinances Existing Debt &#038; Extends Maturity"},"content":{"rendered":"<p> \n<\/p>\n<div>\n<figure class=\"caas-figure\">\n<div class=\"caas-figure-with-pb\" style=\"max-height: 400px\">\n<div>\n<div class=\"caas-img-container\" style=\"padding-bottom:67%;\"><img class=\"caas-img has-preview\" alt=\"\" src=\"https:\/\/s.yimg.com\/ny\/api\/res\/1.2\/cC1GHr4so.rKcxzfx3TsoQ--\/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTY0MA--\/https:\/\/media.zenfs.com\/en\/Benzinga\/a0515154ec568f8f58d50b9e7aeb7629\"\/><\/div>\n<\/div>\n<\/div>\n<\/figure>\n<ul class=\"caas-list caas-list-bullet\">\n<li>\n<p><strong>Grove Collaborative Holdings Inc\u00a0<\/strong>(NYSE: <a class=\"link \" href=\"http:\/\/finance.yahoo.com\/q?s=GROV\" data-ylk=\"slk:GROV\">GROV<\/a>) has\u00a0<a class=\"link \" href=\"https:\/\/www.benzinga.com\/pressreleases\/22\/12\/b30208597\/grove-announces-refinancing-of-existing-debt-extending-maturity-with-principal-payments-beginning-?utm_campaign=partner_feed&amp;utm_source=yahooFinance&amp;utm_medium=partner_feed&amp;utm_content=site\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:entered into a new loan and security agreement\">entered into a new loan and security agreement<\/a>\u00a0providing for a four-year $72.0 million term loan.<\/p>\n<\/li>\n<li>\n<p>With the transaction,\u00a0<strong>Structural Capital<\/strong>\u00a0and\u00a0<strong>Avenue Sustainable Solutions Fund, L.P.<\/strong>\u00a0join as capital partners with experience in consumer, disruptive commerce, and ESG.<\/p>\n<\/li>\n<li>\n<p>The company plans to use the new funds to refinance existing debt and to fund ongoing business operations.<\/p>\n<\/li>\n<li>\n<p>The term loan bears an annual interest at the greater of 15% or prime plus 7.5%, payable monthly.<\/p>\n<\/li>\n<li>\n<p>The principal repayment period commences in July 2025 and the term loan matures in December 2026.<\/p>\n<\/li>\n<li>\n<p>The loan agreement replaces Grove&#8217;s existing credit facilities by and among Grove and Silicon Valley Bank dated as of July 29, 2020.<\/p>\n<\/li>\n<li>\n<p><strong>Price Action:<\/strong>\u00a0GROV shares are trading higher by 11.75% at $0.31 in premarket on the last check Wednesday.<\/p>\n<\/li>\n<\/ul>\n<p><strong>See more from Benzinga<\/strong><\/p>\n<p>Don&#8217;t miss real-time alerts on your stocks &#8211; join <a href=\"http:\/\/benzingapro.com\/?utm_campaign=partner_feed&amp;utm_source=yahooFinance&amp;utm_medium=partner_feed&amp;utm_content=site\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:Benzinga Pro\" class=\"link \">Benzinga Pro<\/a> for free! <a href=\"http:\/\/benzingapro.com\/?utm_campaign=partner_feed&amp;utm_source=yahooFinance&amp;utm_medium=partner_feed&amp;utm_content=site\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:Try the tool that will help you invest smarter, faster, and better\" class=\"link \">Try the tool that will help you invest smarter, faster, and better<\/a>.<\/p>\n<p><i>\u00a9 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.<\/i><\/p>\n<\/div>\n\n<br \/><a href=\"https:\/\/news.google.com\/__i\/rss\/rd\/articles\/CBMiVGh0dHBzOi8vZmluYW5jZS55YWhvby5jb20vbmV3cy9ncm92ZS1yZWZpbmFuY2VzLWV4aXN0aW5nLWRlYnQtZXh0ZW5kcy0xMDQwMjQ2MTYuaHRtbNIBXGh0dHBzOi8vZmluYW5jZS55YWhvby5jb20vYW1waHRtbC9uZXdzL2dyb3ZlLXJlZmluYW5jZXMtZXhpc3RpbmctZGVidC1leHRlbmRzLTEwNDAyNDYxNi5odG1s?oc=5\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Grove Collaborative Holdings Inc\u00a0(NYSE: GROV) has\u00a0entered into a new loan and security agreement\u00a0providing for a four-year $72.0 million term loan. With the transaction,\u00a0Structural Capital\u00a0and\u00a0Avenue Sustainable Solutions Fund, L.P.\u00a0join as capital partners with experience in consumer, disruptive commerce, and ESG. The company plans to use the new funds to refinance existing debt and to fund ongoing &hellip;<\/p>\n","protected":false},"author":1,"featured_media":39001,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[161],"tags":[],"_links":{"self":[{"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/posts\/39000"}],"collection":[{"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/comments?post=39000"}],"version-history":[{"count":0,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/posts\/39000\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/media\/39001"}],"wp:attachment":[{"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/media?parent=39000"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/categories?post=39000"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/tags?post=39000"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}