Oak Street Health Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Financial Statements and Exhibits
$OSH
Assisted Living Services
Health Care
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 4, 2023
(Exact name of registrant as specified in its charter)
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Item 1.01 Entry into a Material Definitive Agreement
On April 4, 2023, Oak Street Health, Inc. (the “Company”) and certain of its subsidiaries entered into a Default Waiver and First Amendment (the “Amendment”) to the Loan and Security Agreement (the “Loan Agreement”) dated September 30, 2022 with Hercules Capital, Inc. as administrative and collateral agent and lender (the “Agent”), and Silicon Valley Bank (“SVB”) and the other lenders from time to time parties thereto (collectively with Agent in its capacity as a lender, the “Lenders”).
Among other matters, the Amendment provides a waiver of any potential default under the Loan Agreement related to the Company’s movement of certain cash deposits between financial institutions on March 16, 2023, which were made intentionally by the Company during the recent period of uncertainty surrounding SVB and its ability to continue operations. The Amendment provides that the Company may maintain cash in certain accounts outside of SVB and its affiliates in an aggregate amount not to exceed $65.0 million.
The foregoing description of the material terms of the Amendment are qualified in their entireties by reference to the full texts of the terms and conditions of such agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.
Item 9.01 Financial Statement and Exhibits
(d) Exhibits
*Certain schedules and exhibits have been omitted pursuant to Item 601(a)(5) of Regulation S-K because such schedules and exhibits do not contain information which is material to an investment decision or which is not otherwise disclosed in the filed agreements. The Company will furnish the omitted schedules and exhibits to the Securities Exchange Commission (the “SEC”) upon request by the SEC. | ||
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Dated: April 10, 2023
| OAK STREET HEALTH, INC. | ||||||||
| By: | /s/ Robert Guenthner | |||||||
| Name: | Robert Guenthner | |||||||
| Title: | Chief Legal Officer | |||||||
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