secwatch.observer — SEC 8-K summary
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Issuer:     Paramount Skydance Corp (PSKY)
CIK:        0002041610
Form:       8-K
Filed at:   2026-10-13T12:21:19+00:00
Accession:  0001104659-26-115294
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 2.03, 7.01, 8.01, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

Skydance completes Warner Bros. Discovery merger; issues 470.7M warrants at $12, $12.5B notes
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- Completed acquisition of Warner Bros. Discovery on Oct 6, 2026 under merger agreement dated Feb 27, 2026; WBD survives as wholly owned Skydance subsidiary.
- Warrant dividend: one warrant per Class B share (record date Oct 5), 470,746,773 warrants issued Oct 13 at $12.00 exercise price, expiring Oct 13, 2036; trade as SKYD WS.
- Exchange Offers settled Oct 9: 99.15% of existing WBD notes tendered; Skydance issued $11.98B and EUR 546.5M of senior secured second lien notes (rates 4.875%-6.350%).
- Tender Offers: 98.83% tendered; company bought $2,395,448,000 principal for $2,380,201,732.56 cash; no cash proceeds from Exchange Offers.
- Junior Lien Exchange Offers deadline extended to March 4, 2027; if not commenced, DCL/DGH owe $100 per $1,000 principal to eligible holders.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2041610/000110465926115294/0001104659-26-115294-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2041610/000110465926115294/tm2626659d12_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-115294

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