Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.95
Teads Holding Co. incurred revolving credit of $100,000,000 with Goldman Sachs Bank USA and other lenders at Term SOFR subject to zero floor plus 4.25% per annum or alternate base rate plus maturing February 3, 2030, subject to springing maturity if bridge refinancing remains outstanding.
- Instrument
- revolving credit
- Principal
- $100,000,000
- Counterparty
- Goldman Sachs Bank USA and other lenders
- Rate
- Term SOFR subject to zero floor plus 4.25% per annum or alternate base rate plus
- Maturity
- February 3, 2030, subject to springing maturity if bridge refinancing remains outstanding
- Event
- incurrence
Exact text from the filing
The Credit Agreement provides for (a) a super senior secured revolving credit facility in an aggregate principal amount of $100,000,000 (the “Revolving Facility”) and (b) a senior secured bridge term loan credit facility in an aggregate principal amount of $625,000,000 (the “Bridge Facility” and, together with the Revolving Facility, the “Credit Facilities”).
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M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.9
Teads Holding Co. completed an acquisition involving Altice Teads S.A. for $625 million cash payment and 43.75 million shares of Common Stock (closed 2025-02-03).
- Action
- acquisition
- Counterparty
- Altice Teads S.A.
- Consideration
- $625 million cash payment and 43.75 million shares of Common Stock
- Closing
- 2025-02-03
Exact text from the filing
Number 1 to the Share Purchase Agreement (the “SPA Amendment”). Under the SPA Amendment, the consideration paid at the closing of the Acquisition was: (a) a cash payment of $625 million, subject to certain customary adjustments; and (b) 43.75 million shares of Common Stock. The parties also agreed to make certain changes to the forms of Stockholder Agreement and
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Restructurings & Charges
SEC 8-K Item 2.05/2.06
confidence 0.9
Teads Holding Co. announced a restructuring with charges of approximately $20 million to $25 million in charges.
- Type
- restructuring
- Charge
- approximately $20 million to $25 million in charges
Exact text from the filing
On February 3, 2025, in connection with the completion of the Acquisition, the Company announced a restructuring plan (the “Plan”), involving a reduction in workforce, as part of its efforts to streamline operations and reduce duplication of roles. The Company estimates that it will incur approximately $20 million to $25 million in charges in connection with the Plan, of which approximately $18 million to $24 million is expected to be incurred in 2025. These charges consist primarily of severance payments.
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