Grove Collaborative Holdings Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Financial Statements and Exhibits
$GROV
Catalog/Specialty Distribution
Consumer Discretionary
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 8, 2025
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||||||||
| (Address of principal executive offices) | (Zip Code) | |||||||
(800 ) 231-8527
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Not Applicable
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Item 1.01. Entry into a Material Definitive Agreement
On May 8, 2025, Grove Collaborative Holdings, Inc., a Delaware public benefit corporation (“Holdings”), and Grove Collaborative, Inc., a Delaware public benefit corporation (“Grove”), in their capacity as borrowers (Holdings and Grove, collectively, the “Borrowers”) under that certain Loan and Security Agreement, dated as of March 10, 2023 (as amended by that certain Amendment No. 1 to Loan and Security Agreement, dated as of July 16, 2024 and that certain Amendment No. 2 to Loan and Security Agreement, dated as of November 21, 2024, the “ABL Loan Agreement”), by and among the Borrowers and Siena Lending Group LLC, a Delaware limited liability company, as lender (in such capacity, the “ABL Lender”), entered into that certain Amendment No. 3 to Loan and Security Agreement, dated as of May 8, 2025 (the “Amendment”), by and among the ABL Lender and the Borrowers, which amends the ABL Loan Agreement.
The Amendment provides for, among other things, an extension of the maturity date to April 10, 2028, the elimination of the minimum liquidity financial covenant and the replacement of the applicable margin grid with a fixed applicable margin of 4.25% for term SOFR loans and 3.25% for base rate loans.
The foregoing description of the Amendment is subject to and qualified in its entirety by reference to the full text of the Amendment, a copy of which is included as Exhibit 10.1 hereto, and the terms of which are incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits.
| Exhibit No. | Description | |||||||||||||||||||||||||
| 10.1 | ||||||||||||||||||||||||||
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL) | |||||||||||||||||||||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
GROVE COLLABORATIVE HOLDINGS, INC. | ||||||||||||||||||||||||||||||||
| Dated: May 9, 2025 | ||||||||||||||||||||||||||||||||
| By: | /s/ Tom Siragusa | |||||||||||||||||||||||||||||||
| Name: | Tom Siragusa | |||||||||||||||||||||||||||||||
| Title: | Interim Chief Financial Officer | |||||||||||||||||||||||||||||||