secwatch.observer — SEC 8-K summary
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Issuer:     Edgio, Inc. (—)
CIK:        0001391127
Form:       8-K
Filed at:   2023-11-15T23:59:59+00:00
Accession:  0001193125-23-277512
Event type: other_material
Sentiment:  negative
Materiality: 0.85
Item codes: 1.01, 2.02, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Edgio gets $66M new capital, exchanges 95% of existing notes; Q3 rev $97M; guided to breakeven Adj. EBITDA in Q4
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- Q3 revenue $97.0M (+1.3% QoQ, –12.4% YoY); GAAP gross margin 23.9%; Adj. EBITDA loss $9.5M (improved from –$13.4M Q2).
- Receives $66M new financing from Lynrock; exchanges $118.9M of 3.50% 2025 notes for new 3.5%/16% PIK secured notes due 2027 at $1.46 conversion price.
- Senior secured term loan of $79.5M from Lynrock at same rate, maturing Nov 2027; proceeds to repurchase remaining existing notes.
- Q4 guidance: revenue $96–98M, Adj. EBITDA –$1M to +$1M. FY2023 rev $391–393M, Adj. EBITDA –$38 to –$36M.
- Record Applications bookings up >150% QoQ; revenue churn down 24% from Q4 2022; Board reduced to five with two new independent directors.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1391127/000119312523277512/0001193125-23-277512-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1391127/000119312523277512/d850446d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-277512

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