secwatch.observer — SEC 8-K summary
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Issuer:     ENTRAVISION COMMUNICATIONS CORP (EVC)
CIK:        0001109116
Form:       8-K
Filed at:   2022-09-16T23:59:59+00:00
Accession:  0000950170-22-018610
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Entravision pays $21.7M immediate, restructures earn-out in Redmas Ventures acquisition
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- Immediate cash payment of $21,734,358 to Sorin Properties as first accelerated payment, replacing future earn-out obligations.
- Sorin's board appointment and governance rights terminated; board member Adriana Cisneros resigns.
- Second payment due April 2023: 49% of 2022 EBITDA × 4 × 75.04% ownership less first payment (min $0), plus $3.752M.
- Third payment due April 2024: $3.752M base plus 49% of any 2023 EBITDA increase over 2022, capped at 2× multiple.
- Acquisition agreement for remaining 49% of Redmas Ventures largely unchanged; guarantee by Entravision Communications.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1109116/000095017022018610/0000950170-22-018610-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1109116/000095017022018610/evc-20220913.htm
  HTML page:      https://secwatch.observer/filing/0000950170-22-018610

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