BuzzFeed extends credit facility maturity to Dec 2025, switches from LIBOR to SOFR

On December 15, 2022, BuzzFeed, Inc. (the “ Company ”), BuzzFeed Media Enterprises, Inc., as administrative borrower, certain of the Company’s other domestic subsidiaries, as borrowers and/or guarantors, White Oak Commercial Finance, LLC, as administrative agent, and the other lenders from time to time party thereto, entered into the First Amendment to the Amended and Restated Loan and Security Agreement (the “ First Amendment ”), which amends the Amended and Restated Loan and Security Agreement dated December 3, 2021 (the “Loan Agreement”). The First Amendment amends the Loan Agreement to, among other things, (i) extend the maturity date of the Loan Agreement to December 30, 2025; (ii) replace the LIBOR Rate with the SOFR Index Rate; and (iii) provide for an early termination fee of between 0.5% and 2% of the maximum facility loan amount. The foregoing description of the First Amendment does not purport to be complete and is qualified in its entirety by the full text of the First Amen