What BrightView Holdings, Inc. told the SEC could break it.

BrightView is exposed to fuel-price market risk through the consumption of fuel by its vehicle fleet and mowers in delivering landscaping services, purchasing fuel at prevailing market prices (partially hedged).

“We are exposed to market risk for changes in fuel prices through the consumption of fuel by our vehicle fleet and mowers in the delivery of services to our customers. We purchase our fuel at prevailing market prices.”

BrightView carried $799.6M of variable-rate debt at a 6.5% weighted-average rate as of September 30, 2025, plus $500M of 7% PIK Series A Convertible Preferred Stock held by sponsor One Rock, exposing it to interest-rate and refinancing risk.

“As of September 30, 2025, we had variable rate debt outstanding of $799.6 million at a weighted average interest rate of 6.5% for the year ended September 30, 2025, excluding the impact of our outstanding hedge agreements.”

Pesticides BrightView applies must be registered with the EPA and similar state agencies and are subject to ongoing EPA exposure-risk evaluation; regulatory action restricting these third-party-manufactured products could disrupt its landscaping operations.

“products containing pesticides generally must be registered with the U.S. Environmental Protection Agency, or EPA, and similar state agencies before they can be sold or applied. The pesticides we use are manufactured by independent third parties and are evaluated by the EPA as part of its ongoing exposure risk assessment and may be subject to similar evaluation by similar state agencies.”

BrightView sources certain key materials — fertilizer, chemicals, road salt and mulch — from a limited number of suppliers; supplier disruptions or the loss of a significant supplier could increase supply costs or delay replacement sourcing.

“products such as fertilizer, chemicals, road salt and mulch, could result in a loss of revenues, reduced margins and damage to our relationships with customers. In addition, we source certain materials and products we use in our business from a limited number of suppliers.”