Company: GROVW
Filing Date: 2025-05-09
Form Type: 8-K
Source: 0001628280-25-024294
Chunk: 0

Company: Grove Collaborative Holdings, Inc.
Filing Date: 2025-05-09
Form: 8-K
Item: Item 1.01
Chunk 0
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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