Vacasa secures $30M convertible notes from Davidson Kempner; Q2 gross bookings down 19% YoY to $505M

Vacasa, Inc.

Entered $75M note purchase agreement; initial $30M notes at 11.25% PIK (3 yrs) then 9.75% cash, convertible at $4.16/share, due 2029.
Q2 gross booking value $505M (-19% YoY); nights sold -17%; home count ~40,000 (down from ~44,000).
Appointed Luis Sosa and Alan Liu to board as Davidson Kempner designees; board expanded to 11.
Issued 174,825 fee shares to DK; voting agreement with Silver Lake, Riverwood, Level Equity to support conversion share issuance.
Notes secured by first lien on substantially all assets; liquidity covenant minimum $15M from Q3 2024.

item 1.01 item 2.02 item 2.03 item 3.02 item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Alan Liu

Class II Director

Vacasa, Inc.

Effective: 2024-08-07
Filed: August 8, 2024, 7:59 PM ET

appointed Alan Liu to the Board as a Class II Director, to serve until the Company’s 2026 annual meeting of stockholders and until his successor is duly elected and qualified

Appointed

Luis Sosa

Class I Director

Vacasa, Inc.

Effective: 2024-08-07
Filed: August 8, 2024, 7:59 PM ET

appointed Luis Sosa to the Board as a Class I Director, to serve until the Company’s 2025 annual meeting of stockholders and until his successor is duly elected and qualified

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Alan Liu was appointed as Class II Director at Vacasa, Inc..

Action: appointed
Role: Class II Director

Exact text from the filing

appointed Alan Liu to the Board as a Class II Director, to serve until the Company’s 2026 annual meeting of stockholders and until his successor is duly elected and qualified

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Luis Sosa was appointed as Class I Director at Vacasa, Inc..

Action: appointed
Role: Class I Director

Exact text from the filing

appointed Luis Sosa to the Board as a Class I Director, to serve until the Company’s 2025 annual meeting of stockholders and until his successor is duly elected and qualified

View on SEC.gov

Source: SEC EDGAR

accession 0001140361-24-036403

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