Last week, Diamond‘s chapter 11 process held a multi-day hearing going over multiple motions before the court. One of the big ones was Diamond’s want to be able to sell consigned goods to help raise money so it could pay back its loan from JPMorgan Chase Bank. Early in the chapter 11 process, which began in January 2025, Diamond took on a loan to help it continue to do business and get it through the process. The consignment sale potentially would have brought in a decent chunk of change to help pay back that loan as there’s estimated to be over $20 million worth of inventory in their possession.

One of the reasons this was an important hearing was their loan from JPMorgan matured on August 23 and Diamond themselves stated they needed the consignment plan approval to help pay back the loan… or as we correctly guessed, they could get another extension on the maturity date.

As we expected, Diamond and JPMorgan have filed a new motion for a “sixth stipulation” between the two and amending their DIP credit agreement.

The new date of maturity would be October 3, 2025.

What’s also interesting is a new addition to the “maximum DIP Facility amount.” That’s the maximum amount that would be owed by Diamond to JPMorgan. Originally, that amount was $47.7 million through the closing of the sale of most of Diamond’s assets, after that sale, there’d be $8.9 million outstanding. This filing would have the DIP paid off from and after October 4, 2025. There’s about $6.15 million remaining at the end of August.

Applicable Period	Maximum DIP Facility Amount
August 23, 2025 through the date of consummation of the sale of the shares of DCDUK	$7,550,000
The date of consummation of the sale of the shares of DCDUK through August 30, 2025	$6,150,000
August 31, 2025 through September 6, 2025	$5,700,000
September 7, 2025 through September 27, 2025	$5,850,000
September 28, 2025 through October 3, 2025	$3,850,000
From and after October 4, 2025	$0

The “borrower” is Diamond Comic Distributors but “other loan parties” include Comic Exporters Inc., Comic Holdings Inc., Diamond Select Toys and Collectibles, LLC, Diamond Comic Distributors (Diamond UK), Rosebud Entertainment, LLC, Renegade Games, LLC, and Game Consolidators, LLC with Stephen A. Geppi being an “individual guarantor.”

The below document not only has the above table but also a lot more with the expected expenses through the end date in a forecast.

The extension of the maturity date was not surprising and the likely result of Diamond’s motion for consignment being denied or pushed out to a further date. There’s been multiple changes already through the process. We’ll see if this is the final one or if there are more to come.