secwatch.observer — SEC 8-K summary
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Issuer:     Shutterstock, Inc. (SSTK)
CIK:        0001549346
Form:       8-K
Filed at:   2024-07-22T23:59:59+00:00
Accession:  0001140361-24-033759
Event type: m_and_a
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 2.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Shutterstock closes $250M acquisition of Envato, doubling subscriber base to 1.15M
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- Aggregate consideration ~$250M after working capital adjustments; closed July 22, 2024.
- Acquisition adds 650k subscribers, raising total to 1.15M subscribers.
- Envato's content library adds 10M images, 6M videos, 1M audio clips, 0.5M templates, 0.2M graphics and fonts.
- New credit agreement provides $125M term loan and $250M revolver; $280M drawn on closing.
- Deal expands Shutterstock's reach into freelancers, small businesses, and new content types (code, web themes, fonts).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1549346/000114036124033759/0001140361-24-033759-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1549346/000114036124033759/ef20032751_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-24-033759

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer