secwatch.observer — SEC 8-K summary
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Issuer:     MAGNITE, INC. (MGNI)
CIK:        0001595974
Form:       8-K
Filed at:   2024-02-07T23:59:59+00:00
Accession:  0001595974-24-000007
Event type: debt
Sentiment:  positive
Materiality: 0.65
Item codes: 1.01, 1.02, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1595974/000159597424000007/0001595974-24-000007-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1595974/000159597424000007/mgni-20240206.htm
  HTML page:      https://secwatch.observer/filing/0001595974-24-000007

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