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YouFit gets third extension of DIP facility maturity, sale milestone
By Sarah Lizee
Olympia, Wash., Feb. 10 – YouFit Health Clubs, LLC received another extension of the maturity date and the sale milestone of its $31.8 million senior secured superpriority revolving credit facility, according to a notice filed Tuesday with the U.S. Bankruptcy Court for the District of Delaware.
The maturity date was extended to the earlier to occur of the closing date of the bankruptcy sale and Feb. 22.
The milestone under the DIP facility relating to the closing of the sale was extended to Feb. 22 from Feb. 15.
Alter Domus (US) LLC is the administrative agent, as previously reported.
Of the facility’s amount, $10,598,506 is new money and up to $21,197,012 is a rollup of the pre-petition liabilities, as previously reported.
Interest is 13˝% per year.
YouFit is a gym chain with headquarters in Deerfield Beach, Fla. The company filed Chapter 11 bankruptcy on Nov. 9 under case number 20-12841.
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