Getty Images offers exchange of 9.75% notes for 14% notes due 2028; Shutterstock waives merger condition

Getty Images Holdings, Inc.

Issuer commences exchange offer for $300M 9.750% Senior Notes due 2027; new 14.000% Senior Notes due 2028.
Early tender by Oct 1 receives $1,000 new notes per $1,000 old; later tender receives $950 per $1,000.
Three largest holders (~65% of outstanding) indicate intent to participate (non-binding).
Shutterstock irrevocably waives condition requiring Getty to refinance debt maturities beyond Feb 2028.
Pro forma financials for combined company with Shutterstock filed; merger consideration includes $9.50 cash and 9.17 shares per share.

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