Sep. 19 at 2:01 AM
$RENT Lender agreed to contribute approximately
$223.1 million (as of the end of our second fiscal quarter ending July 31, 2025, which excludes our unamortized debt premium and includes accrued but unpaid cash interest) in outstanding indebtedness under the Existing Credit Agreement to us in exchange for newly issued shares of Class A Common Stock, equal to 86% of our outstanding Common Stock as of the closing of the Recapitalization Transactions (after giving effect to the Conversions, but before giving effect to this offering and the increased share reserve under the Amended Plan), and our existing stockholders will own the remaining 14% of our outstanding Common Stock as of the closing of the Recapitalization Transactions. As a result, the completion of the Term Loan Conversion will result in significant dilution to our stockholders.