Shutterstock, Inc. (SSTK): M&A transaction — Shutterstock completes Envato acquisition for ~$250M; files financials with qualified audit opinion

Shutterstock, Inc.

Acquisition of Envato closed July 22, 2024 for approximately $250M in cash.
Funding via new A&R Credit Agreement: $125M term loan + $250M revolver.
Envato FY 2023 audited financials and interim periods filed; auditor's opinion qualified on missing comparative figures and IFRS 1 disclosures.
Unaudited pro forma combined financials as of March 31, 2024 and FY 2023 filed.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Shutterstock, Inc. completed an acquisition involving Envato Pty Ltd for approximately $250 million (closed 2024-07-22).

Action: acquisition
Counterparty: Envato Pty Ltd
Consideration: approximately $250 million
Closing: 2024-07-22

Exact text from the filing

the Company pursuant to the Purchase Agreement, after customary working capital and other adjustments in accordance with the terms of the Purchase Agreement, was approximately $250 million. This Form 8-K/A has been filed to amend and supplement the Original Form 8-K to provide the financial statements described in Item 9.01 below, which are permitted to be filed by

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Shutterstock, Inc. filing history →

Source: SEC EDGAR

accession 0001549346-24-000039

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