Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Sphere Entertainment Co. incurred term loan of up to $65 million with MSG Entertainment Holdings, LLC at a variable rate equal to either, at the option of the Registrant, (a) a base rat maturing October 20, 2024.
- Instrument
- term loan
- Principal
- up to $65 million
- Counterparty
- MSG Entertainment Holdings, LLC
- Rate
- a variable rate equal to either, at the option of the Registrant, (a) a base rat
- Maturity
- October 20, 2024
- Event
- incurrence
Exact text from the filing
On April 20, 2023, MSG Entertainment Holdings, LLC (“MSG Entertainment Holdings”) entered into a delayed draw term loan facility (the “DDTL Facility”) with the Registrant. Pursuant to the DDTL Facility, MSG Entertainment Holdings has committed to lend up to $65 million in delayed draw term loans to the Registrant on an unsecured basis for a period of 18 months following the consummation of the Distribution. The DDTL Facility will mature and any unused commitments thereunder will expire on October 20, 2024.
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Executive change
SEC 8-K Item 5.02
confidence 0.95
Gautam Ranji was appointed as Executive Vice President, Chief Financial Officer and Treasurer at Sphere Entertainment Co..
- Action
- appointed
- Role
- Executive Vice President, Chief Financial Officer and Treasurer
Exact text from the filing
On April 20, 2023, the Registrant entered into an employment agreement with Gautam Ranji, effective as of the Distribution, which provides for Mr. Ranji’s employment as the Executive Vice President, Chief Financial Officer and Treasurer of the Registrant following the Distribution
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Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
Sphere Entertainment Co.: Amendment to certificate of incorporation to change name from Madison Square Garden Entertainment Corp. to Sphere Entertainment Co (effective 2023-04-20).
- Change
- charter amendment
- Effective
- 2023-04-20
Exact text from the filing
On April 20, 2023, the Registrant filed with the Secretary of State of the State of Delaware an amendment (the “Amendment”) to its amended and restated certificate of incorporation to change its name from Madison Square Garden Entertainment Corp. to Sphere Entertainment Co. effective as of 11:59 p.m. on April 20, 2023.
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Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
Sphere Entertainment Co.: Amendment to by-laws to change name from Madison Square Garden Entertainment Corp. to Sphere Entertainment Co (effective 2023-04-20).
- Change
- bylaw amendment
- Effective
- 2023-04-20
Exact text from the filing
The Registrant amended its by-laws to change its name from Madison Square Garden Entertainment Corp. to Sphere Entertainment Co. effective as of 11:59 p.m. on April 20, 2023 (the “Amended By-Laws”).
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M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.9
Sphere Entertainment Co. completed a disposition involving Madison Square Garden Entertainment Corp. (closed 2023-04-20).
- Action
- disposition
- Counterparty
- Madison Square Garden Entertainment Corp.
- Closing
- 2023-04-20
Exact text from the filing
On April 20, 2023, Sphere Entertainment Co. (formerly Madison Square Garden Entertainment Corp. and referred to herein as the “Registrant”) distributed approximately 67% of the issued and outstanding shares of the common stock of Madison Square Garden Entertainment Corp. (formerly MSGE Spinco, Inc. and referred to herein as “MSG Entertainment”) to its stockholders (the “Distribution”).
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