Magnite plans refinancing of $360M term loan and $65M revolver; bought back $70M convert notes in Q4

MAGNITE, INC.

Magnite intends to replace $360M term loan (due 2028) and $65M revolver (due 2025) with new 7-year term loan and enlarged 5-year revolver.
New credit facilities expected to have similar term loan size but larger revolver; subject to market conditions.
In Q4 2023, repurchased $70.0M of convertible notes for $60.7M under $100M repurchase plan; $9.5M remains available.
As of Dec 31, 2023, outstanding term loan $351.0M, convertible notes $205.1M, no revolver borrowings.

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