OneSpaWorld Holdings Enters New Agreement, Terminates Old One
Ticker: OSW · Form: 8-K · Filed: Sep 25, 2024 · CIK: 1758488
| Field | Detail |
|---|---|
| Company | Onespaworld Holdings Ltd (OSW) |
| Form Type | 8-K |
| Filed Date | Sep 25, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $0.0001, $100 million, $70 million, $30 million, $50 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, termination, financial-obligation
TL;DR
OneSpaWorld just signed a new deal and ditched an old one, creating new financial obligations.
AI Summary
On September 20, 2024, OneSpaWorld Holdings Limited entered into a material definitive agreement and simultaneously terminated a prior material definitive agreement. This action also created a direct financial obligation for the registrant. The filing details these events and includes financial statements and exhibits.
Why It Matters
This filing indicates a significant change in OneSpaWorld's contractual relationships, potentially impacting its financial obligations and operational agreements.
Risk Assessment
Risk Level: medium — Entering into new material agreements and terminating old ones can introduce new financial risks and operational uncertainties.
Key Players & Entities
- OneSpaWorld Holdings Limited (company) — Registrant
- September 20, 2024 (date) — Date of earliest event reported
FAQ
What is the nature of the material definitive agreement entered into by OneSpaWorld Holdings Limited?
The filing states that a material definitive agreement was entered into on September 20, 2024, but the specific details of this agreement are not provided in the excerpt.
What was the previous material definitive agreement that was terminated?
The filing indicates the termination of a material definitive agreement on September 20, 2024, but does not specify which agreement it was.
What direct financial obligation was created for OneSpaWorld Holdings Limited?
The filing notes the creation of a direct financial obligation as a result of the new agreement, but the specific amount or terms of this obligation are not detailed in the provided text.
What is the significance of the 'off-balance sheet arrangement' mentioned?
The filing mentions an obligation under an off-balance sheet arrangement, but the excerpt does not provide details on what this arrangement entails or its financial implications.
Where is OneSpaWorld Holdings Limited incorporated?
OneSpaWorld Holdings Limited is incorporated in the Commonwealth of The Bahamas.
Filing Stats: 1,252 words · 5 min read · ~4 pages · Grade level 12.7 · Accepted 2024-09-25 06:08:00
Key Financial Figures
- $0.0001 — tered Common Shares, par value (U.S.) $0.0001 per share OSW The Nasdaq Capital Ma
- $100 million — nsisting of (x) a term loan facility of $100 million (of which $70 million was borrowed by D
- $70 million — loan facility of $100 million (of which $70 million was borrowed by Dory Acquisition and $3
- $30 million — on was borrowed by Dory Acquisition and $30 million was borrowed by OneSpaWorld Bahamas) (t
- $50 million — (y) a revolving loan facility of up to $50 million (the " Revolving Facility " and, togeth
- $5 million — y available for letters of credit up to $5 million. Any issuance of letters of credit redu
Filing Documents
- d816017d8k.htm (8-K) — 34KB
- d816017dex101.htm (EX-10.1) — 974KB
- 0001193125-24-225159.txt ( ) — 1373KB
- osw-20240920.xsd (EX-101.SCH) — 2KB
- osw-20240920_lab.xml (EX-101.LAB) — 18KB
- osw-20240920_pre.xml (EX-101.PRE) — 11KB
- d816017d8k_htm.xml (XML) — 4KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 10.1 Credit Agreement, dated as of September 20, 2024, among Dory Acquisition Sub, Inc., OneSpaWorld (Bahamas) Limited, OneSpaWorld Holdings Limited, the subsidiary guarantors party thereto, the lenders party thereto, and Bank of America, N.A., as Administrative Agent, Swingline Lender and L/C Issuer. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. OneSpaWorld Holdings Limited Date: September 25, 2024 By: /s/ Stephen B. Lazarus Stephen B. Lazarus Chief Financial Officer and Chief Operating Officer