LiveWire Group Reports New Agreements, Equity Sales on Feb 14

Ticker: LVWR-WT · Form: 8-K · Filed: Feb 16, 2024 · CIK: 1898795

Sentiment: neutral

Topics: debt, equity-sales, material-agreement

TL;DR

**LiveWire Group just dropped an 8-K about new debt and equity sales on Feb 14th, keep an eye on their capital structure!**

AI Summary

LiveWire Group, Inc. entered into a Material Definitive Agreement and created a Direct Financial Obligation on February 14, 2024. The filing also details Unregistered Sales of Equity Securities. The company, based in Milwaukee, WI, with CIK 0001898795, reported these events in an 8-K filing on February 16, 2024.

Why It Matters

This filing indicates LiveWire Group is actively engaging in new financial obligations and equity transactions, which could impact its capital structure and future operations.

Risk Assessment

Risk Level: medium — New financial obligations and unregistered equity sales can introduce both opportunities and risks, depending on the terms and use of proceeds.

Key Players & Entities

FAQ

What was the earliest event reported in this 8-K filing?

The earliest event reported in this 8-K filing was on February 14, 2024.

What type of agreements did LiveWire Group, Inc. enter into?

LiveWire Group, Inc. entered into a Material Definitive Agreement and created a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

What other significant item was reported in this 8-K?

The 8-K also reported Unregistered Sales of Equity Securities.

What is the CIK number for LiveWire Group, Inc.?

The CIK number for LiveWire Group, Inc. is 0001898795.

Where is LiveWire Group, Inc.'s business address?

LiveWire Group, Inc.'s business address is 3700 West Juneau Avenue, Milwaukee, Wisconsin 53208.

Filing Stats: 1,170 words · 5 min read · ~4 pages · Grade level 13.5 · Accepted 2024-02-16 16:16:57

Key Financial Figures

Filing Documents

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On February 14, 2024, LiveWire EV, LLC (the "Company"), a Delaware limited liability company and a subsidiary of LiveWire Group, Inc. ("Parent"), entered into a Convertible Delayed Draw Term Loan Agreement (the "Convertible Term Loa n ") with Harley-Davidson, Inc. ("H-D") providing for term loans from H-D to the Company in one or more advances up to an aggregate principal amount of $100 million. Parent is a guarantor of the Company's obligations under the Convertible Term Loan. The outstanding principal under the Convertible Term Loan bears interest at a floating rate per annum, as calculated by H-D as of the date of each advance and as of each June 1 and December 1 thereafter, equal to the sum of (i) the forward-looking term rate based on SOFR (i.e., the secured overnight financing rate published by the Federal Reserve Bank of New York (or a successor administrator of the secured overnight financing rate)) for a six-month interest period, plus (ii) 4.00%. The Convertible Term Loan does not include affirmative covenants impacting the operations of the Company or Parent. The Convertible Term Loan includes negative covenants restricting the ability of the Company and Parent to incur indebtedness, create liens, sell assets, make investments, make fundamental changes, make dividends or other restricted payments and enter into affiliate transactions. The Convertible Term Loan has a maturity date of the earlier of (i) 24 months from the date of the first draw on the loan or (ii) October 31, 2026. In the event that the Convertible Term Loan cannot be settled in cash by the Company at maturity, unless otherwise agreed between the Company and H-D, the Convertible Term Loan will be converted to equity of Parent at a conversion price per share of common stock of Parent (the "Common Stock") equal to 90% of the volume weighted average price per share of Common Stock for the 30 trading days immediately preceding the co

02 Unregistered Sales of Equity Securities

Item 3.02 Unregistered Sales of Equity Securities. The disclosures set forth in Item 1.01 above are incorporated herein by reference. 2

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits . Exhibit No. Description 10.1 Convertible Delayed Draw Term Loan Agreement, dated as of February 14, 2024, by and among Harley-Davidson, Inc., LiveWire EV, LLC, and LiveWire Group, Inc. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. LiveWire Group, Inc. Date: February 16, 2024 /s/ Amanda Parker Amanda Parker Chief Legal Officer & Corporate Secretary 3

View Full Filing

View this 8-K filing on SEC EDGAR

View on Read The Filing