View receives interim approval of $17.5 million DIP financing

By Sarah Lizee

Olympia, Wash., April 4 – View, Inc. received interim approval of a $17.5 million debtor-in-possession facility to be provided by existing lenders, according to an order filed Thursday with the U.S. Bankruptcy Court for the District of Delaware.

As a reminder, the company has entered into a restructuring support agreement with Cantor Fitzgerald, LP, RXR Realty and other stakeholders.

The RSA contemplates that the DIP facility may be rolled into an exit facility.

Cantor Fitzgerald Securities is the agent for the DIP facility, which is set to mature in 90 days and bear interest at SOFR plus 750 basis points, payable monthly in cash, provided that the debtors may pay interest in kind at SOFR plus 1,400 bps. There is a 3% closing fee and a 2% commitment fee.

A final hearing is scheduled for April 26.

View is a smart building technologies company based in San Jose, Calif. The Chapter 11 case number is 24-10692.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.