secwatch.observer — SEC 8-K summary
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Issuer:     NASDAQ, INC. (NDAQ)
CIK:        0001120193
Form:       8-K
Filed at:   2025-12-15T23:59:59+00:00
Accession:  0001193125-25-319238
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Nasdaq increases 2028 and 2052 note tender caps to $100M total; early settlement Dec 17
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- Increased 2028 notes cap to $83,011,000 and 2052 notes cap to $16,989,000; removed $95M maximum tender payment.
- Total consideration set at $1,033.67 per $1,000 principal for 2028 notes and $777.38 for 2052 notes, including $30 early tender premium.
- Acceptance prorated: 29% for 2028 notes ($287.7M tendered vs $83.0M cap), 19% for 2052 notes ($88.9M tendered vs $17.0M cap).
- Early settlement date Dec 17; remaining tender offers expire Dec 30, but no further acceptances as caps exceeded.
- Funding from available cash and other liquidity sources.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1120193/000119312525319238/0001193125-25-319238-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1120193/000119312525319238/d29365d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-319238

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