secwatch.observer — SEC 8-K summary
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Issuer:     MAGNITE, INC. (MGNI)
CIK:        0001595974
Form:       8-K
Filed at:   2024-09-18T23:59:59+00:00
Accession:  0001193125-24-221440
Event type: debt
Sentiment:  positive
Materiality: 0.60
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Magnite reprices $364M term loan, cuts rate 75 bps to SOFR+3.75%
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- Interest rate reduced by 75 basis points from SOFR+4.5% to SOFR+3.75%.
- Repricing on $364 million term loan yields over $2.7 million in annual interest savings.
- Term loan maturity remains February 2031; all other terms substantially unchanged.
- No impact on Magnite's convertible notes (due March 2026) or undrawn revolver (due Feb 2029).
- Cumulative rate reduction since February 2024 refinancing totals 125 basis points.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1595974/000119312524221440/0001193125-24-221440-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1595974/000119312524221440/d895917d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-221440

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