secwatch.observer — SEC 8-K summary
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Issuer:     Cardlytics, Inc. (CDLX)
CIK:        0001666071
Form:       8-K
Filed at:   2023-05-01T23:59:59+00:00
Accession:  0001666071-23-000066
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

Cardlytics Bridg earnout set at $208M; cash/stock payment due
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- Independent Accountant set First Anniversary ARR at $23.2M, triggering $208.1M earnout payment.
- Company must pay at least 30% cash ($72.6M); remainder in cash or stock at $40.15/share.
- If choosing stock, $72.6M cash + 3.37M shares delivered (value $21.9M at Apr 28 close).
- Second Anniversary ARR estimated below threshold, resulting in $0 second earnout payment.
- Resolution ends dispute with Bridg Stockholder Representative over earnout calculation.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1666071/000166607123000066/0001666071-23-000066-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1666071/000166607123000066/cdlx-20230428.htm
  HTML page:      https://secwatch.observer/filing/0001666071-23-000066

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