Atlas Grove funds $150 million replacement DIP and tees up exit financing
Atlas Grove said its stalking-horse financing package for Harvest Sherwood now includes a $150 million replacement DIP, effective immediately, and a potential $180 million exit facility targeted for August, according to a July 8 release carried by bing news. The liquidity package matters because it shifts near-term case funding to Atlas Grove while pairing the DIP with a possible exit-capital path, a combination creditors will track as the debtors move through liquidation or wind-down milestones.
The court had already entered the Final Replacement DIP Order, authorizing up to $150 million of DIP loans, final use of cash collateral, priming liens on substantially all estate property, and superpriority claims. The order makes the full DIP amount available on entry and limits use of proceeds to budgeted case needs, including refinancing existing DIP obligations, liquidation expenses, professional fees, carve-out amounts, and chapter 11 administrative costs.