Vintage Wine Announces Forbearance Agreement Extension with Lenders
Vintage Wine Estates, Inc. (VWE)
Company Research
Source: Business Wire
SANTA ROSA, Calif.--(BUSINESS WIRE)--Vintage Wine Estates, Inc. (Nasdaq: VWE and VWEWW) (“VWE” or the “Company”) today announced that the Company and its lender group have amended the forbearance agreement dated March x, 2024 to extend the forbearance period to May 15, 2024. The lenders have also agreed to the deferral of the $10 million principal payment previously due at March 31, 2024 to May 15, 2024.Kristina Johnston, Chief Financial Officer, commented, “We are continuing productive discussions with our lenders as we work to advance potential asset sales, the monetization of inventory and cost reductions. We believe we have presented a viable business plan that transforms VWE into a much simpler business focused on a sustainable core of Super Premium+ priority brands which, importantly, can generate cash. The extension of the forbearance agreement provides additional time for further discussions with the lenders regarding an amended lending agreement as we execute on our plans
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VWE
Sec Filings
- 4/3/24 - Form 424B3
- 4/3/24 - Form 424B3
- 4/3/24 - Form 3
- VWE's page on the SEC website