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Debt Financing / Related, Layoffs, Bankruptcy / Related

Enjoy Technology Inc Entered Into Senior Secured Credit, Guaranty And Security With Asurion LLC, Certain Subsidiaries Of Co

Published: 06/30/2022 12:45 GMT
(ENJY) - Enjoy Technology Inc - on June 29, Entered Into a Senior Secured Credit, Guaranty and Security With Asurion, Llc and Certain Subsidiaries of Co.
Enjoy Technology Inc - Pursuant to Credit Agreement Company Borrowed $2.5 Million ( Bridge Loan) From Lender.
Enjoy Technology - on June 29 Before Commencement of Cases, Debtors & Asurion, in Capacity As Lender of Dip Credit Facility Entered Into Commitment Letter.
Enjoy Technology Inc - Bridge Loan Has a Scheduled Maturity Date of July 8, 2022.
Enjoy Technology - Under Commitment Letter Asurion to Provide to Debtors With Secured Superpriority Dip Credit Facility of Up to $55.0 Million.
Enjoy Technology Inc - on June 29 Enjoy (uk) Limited Commenced a Reduction in Force With Respect to Their Uk-based Employees.
Enjoy Technology Inc - Reduction in Force Was Authorized by Enjoy Uk's Board of Directors on June 29, 2022.
Enjoy Technology - Reduction in Force by Enjoy Uk's Board Involves a Reduction of Workforce of About 411 Employees.
Enjoy Technology - Estimates That It Will Have 1,852 Total Employees Following Effectiveness of Reduction in Force.
Enjoy Technology Inc - Expects Execution of Reduction in Force to Be Substantially Complete in Q2 of 2022.
Enjoy Technology Inc - on June 30, Filed Voluntary Petitions for Reorganization Under Chapter 11 of Bankruptcy Code in United States Bankruptcy Court.