Current Report Filing (8-k)
December 01 2020 - 4:32PM
Edgar (US Regulatory)
0001326089
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0001326089
2020-11-30
2020-11-30
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 30, 2020
Sundance Energy Inc.
(Exact
name of registrant as specified in its charter)
Delaware
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001-36302
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61-1949225
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(State or other jurisdiction of incorporation)
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(Commission File Number)
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(IRS Employer Identification No.)
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1050 17th Street, Suite 700 Denver, CO 80265
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(303) 543-5700
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(Address of principal executive offices, including Zip Code)
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(Registrant’s telephone number, including area code)
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N/A
(Former name or former address, if changed
since last report)
Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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¨
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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¨
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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¨
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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¨
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities registered pursuant to Section
12(b) of the Act:
Title of each class
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Trading Symbol(s)
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Name of each exchange on which registered
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Common Stock, par value $0.001 per share
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SNDE
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The Nasdaq Stock Market LLC
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Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act
of 1934.
Emerging growth company
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x
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
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Item 8.01 Other Events.
As previously indicated in its Quarterly
Report on Form 10-Q for the nine months ended September 30, 2020, Sundance Energy Inc. (the “Company”) was
not in compliance as of such date with respect to (a) the Asset Coverage Ratio under its second lien term loan facility or
(b) the Total Debt to EBITDA Ratio or minimum Current Ratio under its senior secured revolving credit facility. In addition,
pursuant to the second lien term loan facility, the Company was required to enter into a restructuring support agreement with its
lenders by November 30, 2020 which did not occur. As a result of such non-compliance, the Company was unable to deliver applicable
compliance certificates under such facilities and cross-defaults under each facility were triggered. While they have not yet done
so, these events of default allow the lenders to demand immediate repayment of the amounts outstanding under our credit facilities.
The Company has not yet received waivers
or amendments from the lenders to waive or otherwise address these events of default. The Company continues to actively work with
the lenders under each facility to provide for any waivers, amendments, or forbearances necessary, although there can be no assurances
that the Company will be able to do so. If the Company is unsuccessful in its efforts, it may be necessary for the Company to seek
protection from its creditors under Chapter 11 of the U.S. Bankruptcy Code, or such creditors may seek other remedies.
SIGNATURE
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.
Date: December 1, 2020
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SUNDANCE ENERGY INC.
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By:
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/s/ Cathy L. Anderson
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Name:
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Cathy L. Anderson
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Title:
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Chief Financial Officer
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