secwatch.observer — SEC 8-K summary
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Issuer:     USA TODAY Co., Inc. (TDAY)
CIK:        0001579684
Form:       8-K
Filed at:   2024-08-26T23:59:59+00:00
Accession:  0001579684-24-000049
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Gannett enters $900M term loan with Apollo; extends maturities and exchanges notes
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- New $900M first lien term loan (initial $674.4M + delayed draw $225.6M) at SOFR+5% with 1.50% floor, 5-year maturity.
- Proceeds used to repay existing 2026 term loan, repurchase/redeem 6.0% 2026 notes and exchange up to 50% of 2027 convertible notes.
- Apollo funds, holding ~$81M of 2026 notes and ~$441M of 2027 notes, agree to tender and exchange as part of the transactions.
- Delayed draw facility available for 6 months to repurchase any additional 2026 notes tendered for cash.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1579684/000157968424000049/0001579684-24-000049-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1579684/000157968424000049/gci-20240825.htm
  HTML page:      https://secwatch.observer/filing/0001579684-24-000049

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