secwatch.observer — SEC 8-K summary
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Issuer:     Cardlytics, Inc. (CDLX)
CIK:        0001666071
Form:       8-K
Filed at:   2024-01-29T23:59:59+00:00
Accession:  0001666071-24-000025
Event type: litigation
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cardlytics settles Bridg earnout dispute for $25M cash+3.6M shares; prelim Q4 adj. EBITDA beats guidance
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- Settlement with SRS resolves all Bridg earnout disputes; total value ~$46M based on stock price at market close Jan 26.
- Cash payments: $20M by Jan 30, 2024; $3M by Jan 31, 2025; $2M by June 30, 2025; 3.6M shares issued Feb 2024.
- Company will dismiss lawsuit Cardlytics v. SRS in Delaware Chancery with prejudice.
- Preliminary Q4 2023 revenue $89-90M, adjusted EBITDA $9.5-10.5M (vs. prior guidance $4-8M).
- Positive adjusted EBITDA for FY2023 expected to allow credit facility maturity extension to April 2025.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1666071/000166607124000025/0001666071-24-000025-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1666071/000166607124000025/cdlx-20240125.htm
  HTML page:      https://secwatch.observer/filing/0001666071-24-000025

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