My Market Wizard

ModivCare Inc 8-K Analysis & Summary – 3/14/2025

⚠️This is not investment advice.

⚠️ This is an experimental project and this report is for informational purposes only and should not be considered investment advice. Conduct your own thorough research and consult with a qualified financial advisor before making any investment decisions. ⚠️

ModivCare Inc.
, ,

Filing date:

03/14/2025

TLDR:

ModivCare Inc. issued additional Second Lien Notes and entered into a supplemental indenture, with stockholder approval of related transactions.

ELI5:

ModivCare borrowed more money by issuing new notes (IOUs) to investors after getting approval from its stockholders.

Accession #:

0001220754-25-000012

Published on

Analyst Summary

  • ModivCare issued $50.165 million in Second Lien Notes to investors through a First Supplemental Indenture.
  • The issuance was part of the Coliseum Transactions, which were approved by the Company’s stockholders at a Special Meeting on March 13, 2025.
  • The Second Lien Notes were issued pursuant to an indenture dated March 7, 2025.
  • The Coliseum Transactions Proposal was approved with 7,462,218 votes for, 167,985 votes against, and 316,850 abstentions.
  • The First Supplemental Indenture was entered into on March 14, 2025, among the Company, the guarantors, the trustee, and the notes collateral agent.

⚠️ This is an experimental project and this report is for informational purposes only and should not be considered investment advice. Conduct your own thorough research and consult with a qualified financial advisor before making any investment decisions. ⚠️