PSQ Holdings Enters Material Definitive Agreement

TL;DR

PSQ Holdings just signed a big deal, expect financial moves.

AI Summary

On July 1, 2024, PSQ Holdings, Inc. entered into a material definitive agreement related to a direct financial obligation. The company, previously known as Colombier Acquisition Corp. until February 19, 2021, and PSQ Holdings, Inc. until July 19, 2023, is headquartered in West Palm Beach, Florida.

Why It Matters

This filing indicates a significant financial commitment or obligation for PSQ Holdings, Inc., which could impact its financial stability and future operations.

Risk Assessment

Risk Level: medium — Entering into material definitive agreements can introduce new financial obligations or risks that may not be immediately apparent.

Key Players & Entities

• PSQ Holdings, Inc. (company) — Filer and party to the agreement
• Colombier Acquisition Corp. (company) — Former company name
• July 1, 2024 (date) — Date of earliest event reported
• 20240701 (date) — Conformed period of report

FAQ

Key Financial Figures

• $0.0001 — tered Class A common stock, par value $0.0001 per share PSQH New York Stock Excha
• $11.50 — A common stock at an exercise price of $11.50 per share PSQH.WS New York Stock Ex
• $10,000,000 — with the Merger, the Company assumed a $10,000,000 revolving loan pursuant to that certain
• $5.0 million — egate Outstanding Advances greater than $5.0 million. The foregoing description of the Amen

Filing Documents

• ea0209053-8k_psq.htm (8-K) — 33KB
• ea020905301ex10-1_psq.htm (EX-10.1) — 23KB
• 0001213900-24-059820.txt ( ) — 280KB
• psqh-20240701.xsd (EX-101.SCH) — 4KB
• psqh-20240701_def.xml (EX-101.DEF) — 26KB
• psqh-20240701_lab.xml (EX-101.LAB) — 36KB
• psqh-20240701_pre.xml (EX-101.PRE) — 25KB
• ea0209053-8k_psq_htm.xml (XML) — 6KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. As previously disclosed, on March 13, 2024, PSQ Holdings, Inc. (the "Company") consummated its merger with Credova Holdings, Inc., a Delaware corporation (the "Merger"). In connection with the Merger, the Company assumed a $10,000,000 revolving loan pursuant to that certain Amended and Restated Loan and Security Agreement, dated as of November 11, 2021 (as amended by Amendment No. 1 dated January 3, 2022, Amendment No. 2 dated April 18, 2022, Amendment No. 3 dated July 22, 2022, and Amendment No. 4 dated May 31, 2023, the "Credit Facility") among Credova SPV I, LLC, a Delaware limited liability company (the "Borrower"), PFM Credit Recovery Fund I, LLC, a Delaware limited liability company, and OHPC LP, a Delaware limited partnership (together, the "Lender"). The Borrower is a subsidiary of the Company. The Funding Termination Date for the Credit Facility was June 30, 2024. Capitalized terms not defined herein shall have the meanings ascribed to them in the Amendment (defined below). On July 1, 2024, the Borrower and the Lender executed Amendment No. 5 to the Credit Facility (the "Amendment"). The Amendment: (i) extended the Funding Termination Date to June 30, 2025; (ii) modified the definition of "Borrowing Base" to increase the advance rate on Eligible Receivables to 89% for delinquent loans that are less than 61 days past due; (iii) modified the terms of the Delinquency and Liquidated Receivables Percentage Triggering Events to standardize the applicable three-month weighted average percentage of Delinquency Ratios and Liquidated Receivables Percentages for all Receivables at 15% and 3%, respectively; (iv) modified certain Concentration Limits; (v) modified the interest rate applicable to Aggregate Outstanding Advances to 14.5% per annum; and (vi) added a Non-use Fee applicable to any portion of Aggregate Outstanding Advances greater than $5.0 million. The foregoing description of the Amendment does not pu

03. Creation of a Direct Financial Obligation

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information set forth under Item 1.01 of this current report on Form 8-K is hereby incorporated into this Item 2.03 by reference.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 Amendment No. 5 to Amended and Restated Loan and Security Agreement, dated July 1, 2024, by and among Credova SPV I, LLC, PFM Credit Recovery Fund I, LLC and OHPC LP 104 Cover Page Interactive Data File (embedded within the inline XBRL document) 1

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. PSQ Holdings, Inc. Date: July 8, 2024 By: /s/ Michael Seifert Name: Michael Seifert Title: Founder, Chairman and Chief Executive Officer 2

View Full Filing

View this 8-K filing on SEC EDGAR