---
schema_version: "secwatch.filing_event.v1"
accession: "0001595974-24-000007"
form_type: "8-K"
ticker: "MGNI"
cik: "0001595974"
company_name: "MAGNITE, INC."
filed_at: "2024-02-07T23:59:59+00:00"
generated_at: "2026-06-06T07:03:44.658206+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Magnite closes $540M new credit facilities at lower margins; approves $125M buyback

## Summary
- $365M term loan (due 2031) and $175M revolver (due 2029) refinance existing $360M term loan and $65M revolver.
- New term loan rate SOFR + 4.5% (vs prior +5.0%); revolver rate SOFR + 3.5%-4.0% (vs prior 4.25%-4.75%).
- Outstanding old term loan was $351M as of Dec 31, 2023; no revolver borrowings.
- Board authorized $125M repurchase of common stock and convertible notes through February 2026.

## SEC filing metadata
- accession: 0001595974-24-000007
- form_type: 8-K
- ticker: MGNI
- cik: 0001595974
- company_name: MAGNITE, INC.
- filed_at: 2024-02-07T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1595974/000159597424000007/0001595974-24-000007-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1595974/000159597424000007/mgni-20240206.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001595974-24-000007
- JSON: https://secwatch.observer/filing/0001595974-24-000007.json
- Plain text: https://secwatch.observer/filing/0001595974-24-000007.txt

## Key facts
- Debt Financings
  MAGNITE, INC. incurred credit facility of $365 million seven-year senior secured term loan facility and a $175 million senior secured revolving credit facility with Morgan Stanley Senior Funding, Inc. as term loan administrative agent and Citibank, N.A. as revolving facility administrative agent and collateral agent, and other lender parties thereto at (1) for the term loans, at the Company’s election, Term SOFR (as defined in the maturing seven years.
  - Instrument: credit facility
  - Principal: $365 million seven-year senior secured term loan facility and a $175 million senior secured revolving credit facility
  - Counterparty: Morgan Stanley Senior Funding, Inc. as term loan administrative agent and Citibank, N.A. as revolving facility administrative agent and collateral agent, and other lender parties thereto
  - Rate: (1) for the term loans, at the Company’s election, Term SOFR (as defined in the
  - Maturity: seven years
  - Event: incurrence
  source text: On February 6, 2024, Magnite, Inc. (the “Company”) entered into a credit agreement (the “Credit Agreement”) with Morgan Stanley Senior Funding, Inc. as term loan administrative agent and Citibank, N.A. as revolving facility administrative agent and collateral agent, and other lender parties thereto. The Credit Agreement provides for a $365 million seven-year senior secured term loan facility and a $175 million senior secured revolving credit facility.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1595974/000159597424000007/0001595974-24-000007-index.htm
- Material Agreements
  MAGNITE, INC. terminated Existing Credit Agreement with Goldman Sachs Bank USA (effective 2024-02-06).
  - Action: termination
  - Agreement: credit facility
  - Counterparty: Goldman Sachs Bank USA
  - Effective: 2024-02-06
  source text: On February 6, 2024, the net proceeds received by the Company under the term loan facility pursuant to the Credit Agreement were used, among other things, to terminate the Existing Credit Agreement and repay in full the outstanding facilities under the Existing Credit Agreement.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1595974/000159597424000007/0001595974-24-000007-index.htm
- Material Agreements
  MAGNITE, INC. entered into Credit Agreement with Morgan Stanley Senior Funding, Inc., Citibank, N.A., and other lender parties valued at $365 million term loan facility and $175 million revolving credit facility (effective 2024-02-06).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Morgan Stanley Senior Funding, Inc., Citibank, N.A., and other lender parties
  - Value: $365 million term loan facility and $175 million revolving credit facility
  - Effective: 2024-02-06
  source text: On February 6, 2024, Magnite, Inc. (the “Company”) entered into a credit agreement (the “Credit Agreement”) with Morgan Stanley Senior Funding, Inc. as term loan administrative agent and Citibank, N.A. as revolving facility administrative agent and collateral agent, and other lender parties thereto.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1595974/000159597424000007/0001595974-24-000007-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.