Magnite completes SpotX acquisition for ~$1.2B; pro forma 2020 net loss $139M on $407M revenue

MAGNITE, INC.

Total purchase price ~$1.2B: $640M cash + 12,374,315 shares of MGNI common stock.
Financed via $400M 0.25% convertible senior notes due 2026 and $360M term loan (net $325M).
Pro forma combined 2020 revenue $407M, operating loss $154M, net loss $139M.
Goodwill of $816M and intangible assets of $431M recorded from acquisition accounting.
Working capital estimate of ~$65.5M added to purchase price; final adjustments pending.

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