Compass Diversified Announces Extension of Credit Agreement Forbearance

Core Points - Compass Diversified (CODI) has received an extension from its senior secured lender group until November 10, 2025, to publish restated financial results for the fiscal years ended December 31, 2022, 2023, and 2024 [1] - The company is actively engaged in discussions with its senior lender group regarding a formal forbearance extension to allow more time for the restatement process [1] - CODI is making progress in investigating financial and accounting irregularities at its subsidiary, Lugano Holding Inc., which is the sole focus of the investigation and does not affect other subsidiaries [2] - The CEO of CODI, Elias Sabo, stated that the company is nearing the end of a complex restatement process related to fraud by Lugano's founder and former CEO, emphasizing a commitment to maximizing stakeholder value [3]