Pinstripes Holdings, INC
Market Movers (8-K)
Pinstripes Holdings, Inc. appoints Richard Abbey as interim CFO, effective immediately, as contemplated by the letter of intent with Oaktree Capital Management, L.P.
Pinstripes Holdings, Inc. announces a strategic recapitalization with Oaktree Capital Management, providing additional capital and restructuring equity while facing delisting from the NYSE.
Capital raise
Worse than expected
Pinstripes Holdings, Inc. has entered into a binding letter of intent with Oaktree Capital Management, L.P. for a strategic recapitalization, including additional funding and a majority equity stake for Oaktree.
Worse than expected
Capital raise
8-K: Pinstripes Holdings Appoints Caitlin Schaefer as Interim CFO Following Querciagrossa's Resignation
Pinstripes Holdings names Caitlin Schaefer as interim CFO, effective March 1, 2025, following the resignation of Anthony Querciagrossa.
Pinstripes Holdings, Inc. announced a 10.4% increase in total revenue for the third quarter of fiscal year 2025, but also reported a net loss of $8.1 million.
Capital raise
Worse than expected
Pinstripes Holdings, Inc. has successfully amended its loan agreements with Oaktree, Silverview, and Granite Creek, adjusting interest rates, payment schedules, and covenant requirements.
Worse than expected
Capital raise
Quarterly Earnings (10-Q)
Pinstripes Holdings saw a revenue increase in Q3 2025, but net losses widened due to higher interest expenses and ongoing debt covenant issues.
Worse than expected
Capital raise
Pinstripes Holdings reports a net loss of $9.3 million for the second quarter of fiscal year 2025, while also expressing substantial doubt about its ability to continue as a going concern.
Worse than expected
Capital raise
Pinstripes Holdings saw a revenue increase driven by new store openings, but also experienced a significant widening of net losses in the first quarter of fiscal year 2025.
Worse than expected
Capital raise
Pinstripes Holdings reports a net income of $12.2 million for the third quarter of fiscal year 2024, driven by a gain in the fair value of warrant liabilities and increased revenue.
Better than expected
Annual Reports (10-K)
Pinstripes Holdings, Inc. released its annual 10-K report, outlining its financial performance, growth strategies, and risk factors for the fiscal year ended April 28, 2024.
Delay expected
Capital raise
Worse than expected
Insider Trading (Form 4)
Keith Jaffee, a former 10% owner of Pinstripes Holdings, Inc., filed a Form 4 indicating a change in his beneficial ownership status.
Banyan Acquisition Sponsor LLC, a former 10% holder in Pinstripes Holdings, Inc., decreased its holdings through a series of transactions, including a distribution to its members.
Dale Schwartz, CEO of Pinstripes Holdings, receives a grant of 129,032 shares of Class A Common Stock.
Anthony Querciagrossa, CFO of Pinstripes Holdings, Inc., reports the acquisition of 96,774 shares of Class A Common Stock as a grant.
Anthony Querciagrossa, CFO of Pinstripes Holdings, Inc., purchased 100,000 shares of Class A Common Stock at a weighted average price of $3.43 on February 26, 2024.
Proxy Statements (Def-14A)
Pinstripes Holdings will hold its annual stockholders meeting virtually on October 7, 2024, to vote on director elections, auditor ratification, and other business.
Pinstripes Holdings will hold its annual stockholders meeting virtually on October 7, 2024, to elect directors and ratify the appointment of its independent accounting firm.
New Public Companies (S-1)
Pinstripes Holdings is offering for resale up to 204,042 shares of its Class A common stock issuable upon the exercise of warrants held by Oaktree and Silverview.
Worse than expected
Delay expected
Capital raise
Pinstripes Holdings, Inc. files an amendment to its Form S-1 registration statement related to the issuance and resale of common stock and warrants.
Pinstripes Holdings files an updated S-1 registration statement to address SEC comments and register shares for warrant exercise and resale by selling securityholders.
Capital raise
Pinstripes Holdings updates its registration statement for primary and secondary offerings of Class A Common Stock and warrants.
Capital raise
Pinstripes Holdings has filed a registration statement for the issuance of up to 23,985,000 shares of Class A common stock upon the exercise of outstanding warrants.
Worse than expected
Capital raise
Schedule 13D - Activist Investments
SCHEDULE 13D/A: Oaktree Capital Seizes Control of Pinstripes Holdings in Distressed Recapitalization Deal
Oaktree Capital has significantly increased its control over Pinstripes Holdings, providing additional debt funding, acquiring more warrants, and entering a binding letter of intent for a recapitalization that would grant Oaktree 85% ownership and full board control, contingent on NYSE delisting.
Delay expected
Capital raise
Worse than expected
SCHEDULE 13D: Oaktree Reveals Significant Stake in Pinstripes Holdings, Signals Potential Restructuring Amid Financial Challenges
Oaktree Value Equity Fund and its affiliates have disclosed a 7.2% beneficial ownership in Pinstripes Holdings, Inc., primarily through warrants tied to secured loans, and are engaging in discussions regarding the Issuer's 'current financial situation' and potential strategic alternatives.
Capital raise
Worse than expected