secwatch.observer — SEC 8-K summary
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Issuer:     ZIFF DAVIS, INC. (ZD)
CIK:        0001084048
Form:       8-K
Filed at:   2024-07-10T23:59:59+00:00
Accession:  0001193125-24-177008
Event type: debt
Sentiment:  negative
Materiality: 0.75
Item codes: 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ziff Davis warns Q2 below estimates; exchanges $401M notes for new 2028 notes
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- Preliminary Q2 2024 results expected below Wall Street consensus; final results in early August.
- Exchanged ~$401M of 1.75% convertible notes due 2026 for ~$263M of new 3.625% notes due 2028 plus $135M cash.
- After exchange, notes outstanding: ~$149M existing, ~$263M new notes; settlement expected July 16, 2024.
- New notes have conversion rate of 10 shares per $1,000 principal (initial conversion price $100/share).
- Company will not receive cash proceeds; transaction extends maturity from 2026 to 2028.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1084048/000119312524177008/0001193125-24-177008-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1084048/000119312524177008/d827406d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-177008

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