--- schema_version: "secwatch.filing_event.v1" accession: "0001493152-24-000126" form_type: "8-K" ticker: "FUBO" cik: "0001484769" company_name: "FuboTV Inc." filed_at: "2024-01-02T23:59:59+00:00" generated_at: "2026-06-07T05:13:40.033650+00:00" event_type: "debt" sentiment: "positive" materiality_score: 0.75 calibrated_materiality_score: 0.75 confidence: "high" source: SEC EDGAR --- # Fubo exchanges $205.8M of 2026 notes for $177.5M of 2029 secured notes, reducing debt by $28.3M ## Summary - $205.8M principal of 3.25% convertible senior notes due 2026 exchanged for $177.5M in new 7.5%/10% convertible senior secured notes due 2029. - Debt reduced by $28.3M; all new notes held by Mudrick Capital; no cash proceeds from the exchange. - Interest payable at 7.5% cash or 10% PIK, semi-annually; secured by substantially all assets of Fubo and guarantors. - Initial conversion rate 260.6474 shares per $1,000 principal (~$3.8366/share); max ~53.2M shares issuable upon conversion. - Mudrick granted right of first refusal on secured debt, participation rights on unsecured debt, and preemptive rights on equity. ## SEC filing metadata - accession: 0001493152-24-000126 - form_type: 8-K - ticker: FUBO - cik: 0001484769 - company_name: FuboTV Inc. - filed_at: 2024-01-02T23:59:59+00:00 - event_type: debt - sentiment: positive - materiality_score: 0.75 - calibrated_materiality_score: 0.75 - confidence: high - sec_items: 1.01, 2.03, 3.02, 7.01, 8.01, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1484769/000149315224000126/0001493152-24-000126-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1484769/000149315224000126/form8-k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001493152-24-000126 - JSON: https://secwatch.observer/filing/0001493152-24-000126.json - Plain text: https://secwatch.observer/filing/0001493152-24-000126.txt ## Key facts - Debt Financings FuboTV Inc. incurred convertible notes of $177,506,000 in aggregate principal amount with U.S. Bank Trust Company, National Association at (i) 7.500% per annum ... if interest is paid in cash and (ii) 10.000% per annum maturing February 15, 2029. - Instrument: convertible notes - Principal: $177,506,000 in aggregate principal amount - Counterparty: U.S. Bank Trust Company, National Association - Rate: (i) 7.500% per annum ... if interest is paid in cash and (ii) 10.000% per annum - Maturity: February 15, 2029 - Event: incurrence source text: On December 29, 2023, fuboTV Inc. (the "Company") entered into a privately negotiated exchange agreement (the "Exchange Agreement") with certain affiliates and related funds of Mudrick Capital Management, L.P. (collectively, "Mudrick"), which were holders of the Company's existing 3.25% Convertible Senior Notes due 2026 (the "2026 Notes"), to exchange (the "Exchange") $205,835,000 principal amount of the 2026 Notes for $177,506,000 in aggregate principal amount of the Company's new convertible senior secured notes due 2029 (the "2029 Notes"). The 2029 Notes were issued pursuant to, and are governed by, an indenture (the "Indenture"), dated as of January 2, 2024, among the Company, the guarantors identified therein (the "Guarantors") and U.S. Bank Trust Company, National Association, as trustee (the "Trustee") and collateral agent (the "Collateral Agent"). evidence_url: https://www.sec.gov/Archives/edgar/data/1484769/000149315224000126/0001493152-24-000126-index.htm - Material Agreements FuboTV Inc. entered into Exchange Agreement with certain affiliates and related funds of Mudrick Capital Management, L.P. valued at $205,835,000 principal amount of the 2026 Notes (effective 2023-12-29). - Action: entry - Agreement: notes offering - Counterparty: certain affiliates and related funds of Mudrick Capital Management, L.P. - Value: $205,835,000 principal amount of the 2026 Notes - Effective: 2023-12-29 source text: entered into a privately negotiated exchange agreement (the “Exchange Agreement”) with certain affiliates and related funds of Mudrick Capital Management, L.P. (collectively, “Mudrick”), which were holders of the Company’s existing 3.25% Convertible Senior Notes due 2026 (the “2026 Notes”), to exchange (the “Exchange”) $205,835,000 principal amount of the 2026 Notes for $177,506,000 in aggregate principal amount of the Company’s new convertible senior secured notes due 2029 (the “2029 Notes”). evidence_url: https://www.sec.gov/Archives/edgar/data/1484769/000149315224000126/0001493152-24-000126-index.htm - Material Agreements FuboTV Inc. entered into Indenture with U.S. Bank Trust Company, National Association valued at $177,506,000 (effective 2024-01-02). - Action: entry - Agreement: notes offering - Counterparty: U.S. Bank Trust Company, National Association - Value: $177,506,000 - Effective: 2024-01-02 source text: $177,506,000 in aggregate principal amount of the Company’s new convertible senior secured notes due 2029 (the “2029 Notes”). The 2029 Notes were issued pursuant to, and are governed by, an indenture (the “Indenture”), dated as of January 2, 2024, among the Company, the guarantors identified therein (the “Guarantors”) and U.S. Bank Trust Company, National Association, as trustee (the “Trustee”) and collateral agent (the “Collateral Agent”). evidence_url: https://www.sec.gov/Archives/edgar/data/1484769/000149315224000126/0001493152-24-000126-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.