IPic discloses late interest payment [Seeking Alpha]
IPIC ENTERTAINMENT INC A (IPIC)
US:NASDAQ Investor Relations:
globenewswire.com/news-release/2018/02/01/1330161/0/en/ipic-entertainment-announces-closing-of-its-initial-public-offering.html
Company Research
Source: Seeking Alpha
IPic discloses late interest payment In a filing, iPic Entertainment (NASDAQ: IPIC late on an interest payment The company has about $204M of outstanding indebtedness under a credit facility with the Teachers' Retirement System of Alabama and the Employees' Retirement System of Alabama. It says it was obligated to make a $10.1M interest payment to RSA on July 1, and expected to draw down a "substantial portion" of the remaining principal balance to make the payment. "To date, however, RSA has not made additional funds available to us under the credit facility for the purpose of making the interest payment and we have not made the interest payment as of the date hereof," it says. Talks are active and RSA hasn't declared an event of default, iPic says.
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