---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-273042"
form_type: "8-K"
ticker: null
cik: "0001448056"
company_name: "NEW RELIC, INC."
filed_at: "2023-11-08T23:59:59+00:00"
generated_at: "2026-06-08T09:07:28.556312+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

# Francisco Partners and TPG complete $6.5B acquisition of New Relic at $87.00/share

## Summary
- All-cash deal valued at $87.00 per share; equity valuation approximately $6.5 billion.
- Stockholders approved merger on Nov 1, 2023; transaction closed Nov 8, 2023.
- New Relic common stock (NEWR) ceased trading on NYSE; company becomes private.
- Board of directors replaced; David Barter, Drew Delmonico, Thomas Lloyd, Lauren Walz appointed.
- Parent entered $2.4B credit agreement with Blue Owl Capital to finance the acquisition.

## SEC filing metadata
- accession: 0001193125-23-273042
- form_type: 8-K
- cik: 0001448056
- company_name: NEW RELIC, INC.
- filed_at: 2023-11-08T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 1.01, 2.01, 2.03, 3.01, 3.03, 5.01, 5.02, 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1448056/000119312523273042/0001193125-23-273042-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1448056/000119312523273042/d469974d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-273042
- JSON: https://secwatch.observer/filing/0001193125-23-273042.json
- Plain text: https://secwatch.observer/filing/0001193125-23-273042.txt

## Key facts
- Debt Financings
  NEW RELIC, INC. incurred revolving credit of $250,000,000 with Blue Owl Capital Corporation.
  - Instrument: revolving credit
  - Principal: $250,000,000
  - Counterparty: Blue Owl Capital Corporation
  - Event: incurrence
  source text: revolving credit loans made available to Parent at any time and from time to time, in an aggregate principal amount at any time outstanding not to exceed $250,000,000 (including letters of credit extensions)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1448056/000119312523273042/0001193125-23-273042-index.htm
- Debt Financings
  NEW RELIC, INC. incurred credit facility of $2,400,000,000 with Blue Owl Capital Corporation.
  - Instrument: credit facility
  - Principal: $2,400,000,000
  - Counterparty: Blue Owl Capital Corporation
  - Event: incurrence
  source text: The Credit Agreement provides for extensions of credit in the form of (i) an initial term loan to Parent in an aggregate principal amount of $2,400,000,000
  evidence_url: https://www.sec.gov/Archives/edgar/data/1448056/000119312523273042/0001193125-23-273042-index.htm
- Executive change
  Lewis Cirne departed as Director at NEW RELIC, INC..
  - Action: ceased serving
  - Role: Director
  source text: each of the following then-existing members of the board of directors of the Company—Lewis Cirne, Bill Staples, Hope Cochran, Susan D. Arthur, Phalachandra (Pali) Bhat, Anne DelSanto, Kevin Galligan, David Henshall, RK Mahendran, and Takeshi Numoto—ceased serving in such capacity.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1448056/000119312523273042/0001193125-23-273042-index.htm
- Executive change
  David Henshall departed as Director at NEW RELIC, INC..
  - Action: ceased serving
  - Role: Director
  source text: each of the following then-existing members of the board of directors of the Company—Lewis Cirne, Bill Staples, Hope Cochran, Susan D. Arthur, Phalachandra (Pali) Bhat, Anne DelSanto, Kevin Galligan, David Henshall, RK Mahendran, and Takeshi Numoto—ceased serving in such capacity.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1448056/000119312523273042/0001193125-23-273042-index.htm
- Executive change
  Bill Staples departed as Director at NEW RELIC, INC..
  - Action: ceased serving
  - Role: Director
  source text: each of the following then-existing members of the board of directors of the Company—Lewis Cirne, Bill Staples, Hope Cochran, Susan D. Arthur, Phalachandra (Pali) Bhat, Anne DelSanto, Kevin Galligan, David Henshall, RK Mahendran, and Takeshi Numoto—ceased serving in such capacity.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1448056/000119312523273042/0001193125-23-273042-index.htm
- Executive change
  Susan D. Arthur departed as Director at NEW RELIC, INC..
  - Action: ceased serving
  - Role: Director
  source text: each of the following then-existing members of the board of directors of the Company—Lewis Cirne, Bill Staples, Hope Cochran, Susan D. Arthur, Phalachandra (Pali) Bhat, Anne DelSanto, Kevin Galligan, David Henshall, RK Mahendran, and Takeshi Numoto—ceased serving in such capacity.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1448056/000119312523273042/0001193125-23-273042-index.htm
- Executive change
  RK Mahendran departed as Director at NEW RELIC, INC..
  - Action: ceased serving
  - Role: Director
  source text: each of the following then-existing members of the board of directors of the Company—Lewis Cirne, Bill Staples, Hope Cochran, Susan D. Arthur, Phalachandra (Pali) Bhat, Anne DelSanto, Kevin Galligan, David Henshall, RK Mahendran, and Takeshi Numoto—ceased serving in such capacity.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1448056/000119312523273042/0001193125-23-273042-index.htm
- Executive change
  Drew Delmonico was appointed as Director at NEW RELIC, INC..
  - Action: appointed
  - Role: Director
  source text: David Barter, Drew Delmonico, Thomas Lloyd, and Lauren Walz were appointed as directors of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1448056/000119312523273042/0001193125-23-273042-index.htm
- Executive change
  Takeshi Numoto departed as Director at NEW RELIC, INC..
  - Action: ceased serving
  - Role: Director
  source text: each of the following then-existing members of the board of directors of the Company—Lewis Cirne, Bill Staples, Hope Cochran, Susan D. Arthur, Phalachandra (Pali) Bhat, Anne DelSanto, Kevin Galligan, David Henshall, RK Mahendran, and Takeshi Numoto—ceased serving in such capacity.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1448056/000119312523273042/0001193125-23-273042-index.htm
- Executive change
  Lauren Walz was appointed as Director at NEW RELIC, INC..
  - Action: appointed
  - Role: Director
  source text: David Barter, Drew Delmonico, Thomas Lloyd, and Lauren Walz were appointed as directors of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1448056/000119312523273042/0001193125-23-273042-index.htm
- Executive change
  Phalachandra (Pali) Bhat departed as Director at NEW RELIC, INC..
  - Action: ceased serving
  - Role: Director
  source text: each of the following then-existing members of the board of directors of the Company—Lewis Cirne, Bill Staples, Hope Cochran, Susan D. Arthur, Phalachandra (Pali) Bhat, Anne DelSanto, Kevin Galligan, David Henshall, RK Mahendran, and Takeshi Numoto—ceased serving in such capacity.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1448056/000119312523273042/0001193125-23-273042-index.htm
- Executive change
  David Barter was appointed as Director at NEW RELIC, INC..
  - Action: appointed
  - Role: Director
  source text: David Barter, Drew Delmonico, Thomas Lloyd, and Lauren Walz were appointed as directors of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1448056/000119312523273042/0001193125-23-273042-index.htm
- Executive change
  Kevin Galligan departed as Director at NEW RELIC, INC..
  - Action: ceased serving
  - Role: Director
  source text: each of the following then-existing members of the board of directors of the Company—Lewis Cirne, Bill Staples, Hope Cochran, Susan D. Arthur, Phalachandra (Pali) Bhat, Anne DelSanto, Kevin Galligan, David Henshall, RK Mahendran, and Takeshi Numoto—ceased serving in such capacity.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1448056/000119312523273042/0001193125-23-273042-index.htm
- Executive change
  Hope Cochran departed as Director at NEW RELIC, INC..
  - Action: ceased serving
  - Role: Director
  source text: each of the following then-existing members of the board of directors of the Company—Lewis Cirne, Bill Staples, Hope Cochran, Susan D. Arthur, Phalachandra (Pali) Bhat, Anne DelSanto, Kevin Galligan, David Henshall, RK Mahendran, and Takeshi Numoto—ceased serving in such capacity.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1448056/000119312523273042/0001193125-23-273042-index.htm
- Executive change
  Anne DelSanto departed as Director at NEW RELIC, INC..
  - Action: ceased serving
  - Role: Director
  source text: each of the following then-existing members of the board of directors of the Company—Lewis Cirne, Bill Staples, Hope Cochran, Susan D. Arthur, Phalachandra (Pali) Bhat, Anne DelSanto, Kevin Galligan, David Henshall, RK Mahendran, and Takeshi Numoto—ceased serving in such capacity.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1448056/000119312523273042/0001193125-23-273042-index.htm
- Executive change
  Thomas Lloyd was appointed as Director at NEW RELIC, INC..
  - Action: appointed
  - Role: Director
  source text: David Barter, Drew Delmonico, Thomas Lloyd, and Lauren Walz were appointed as directors of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1448056/000119312523273042/0001193125-23-273042-index.htm
- Governance Changes
  NEW RELIC, INC.: Amended and restated certificate of incorporation to match Merger Sub's charter.
  - Change: charter amendment
  source text: Pursuant to the Merger Agreement, at the Effective Time, the Amended and Restated Certificate of Incorporation of the Company was amended and restated in its entirety to be in the form of the certificate of incorporation of Merger Sub as in effect immediately prior to the Effective Time (the “Certificate of Incorporation”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1448056/000119312523273042/0001193125-23-273042-index.htm
- Governance Changes
  NEW RELIC, INC.: Amended and restated bylaws to match Merger Sub's bylaws.
  - Change: bylaw amendment
  source text: In addition, at the Effective Time, the Amended and Restated Bylaws of the Company, as in effect immediately prior to the Effective Time, were amended and restated in their entirety to be in the form of the bylaws of Merger Sub as in effect immediately prior to the Effective Time (the “Bylaws”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1448056/000119312523273042/0001193125-23-273042-index.htm
- M&A Transactions
  NEW RELIC, INC. underwent a change of control involving Crewline Buyer, Inc. (affiliates of TPG Global, LLC) (closed 2023-11-08).
  - Action: change of control
  - Counterparty: Crewline Buyer, Inc. (affiliates of TPG Global, LLC)
  - Closing: 2023-11-08
  source text: On November 8, 2023 (the “Closing Date”), pursuant to the Merger Agreement, Merger Sub merged with and into the Company (the “Merger”), with the Company surviving the Merger as a wholly-owned subsidiary of Parent.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1448056/000119312523273042/0001193125-23-273042-index.htm
- Material Agreements
  NEW RELIC, INC. entered into Credit Agreement with Blue Owl Capital Corporation valued at $2,400,000,000 term loan, $250,000,000 revolving credit, $50,000,000 letters of credit (effective 2023-11-08).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Blue Owl Capital Corporation
  - Value: $2,400,000,000 term loan, $250,000,000 revolving credit, $50,000,000 letters of credit
  - Effective: 2023-11-08
  source text: Concurrently with the closing of the Merger, Crewline Intermediate, Inc., a Delaware corporation (“Holdings”), and Parent entered into that certain Credit Agreement, dated as of the Closing Date, among Holdings, Parent, as borrower, the lenders party thereto (the “Lenders”) and Blue Owl Capital Corporation, as the administrative agent and collateral agent for the Lenders (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1448056/000119312523273042/0001193125-23-273042-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.