secwatch.observer — SEC 8-K summary
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Issuer:     SelectQuote, Inc. (SLQT)
CIK:        0001794783
Form:       8-K
Filed at:   2025-02-28T23:59:59+00:00
Accession:  0001794783-25-000014
Event type: debt
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 3.02, 5.03, 3.03, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SelectQuote closes $350M preferred stock and warrant investment from Morgan Stanley and Bain Capital
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- Morgan Stanley and Bain each invested $175M for 175,000 preferred shares and warrants in three tranches on Feb 28, 2025.
- Preferred stock carries 14.5% dividend (adjustable down to 13.5% or up to 20% on default); non-convertible, senior to common.
- Warrants exercisable for 10 years: Tranche A at $0.01, Tranche B at VWAP (floor $2.15/cap $4.00), Tranche C at $5.50 per share.
- Board expanded to nine members; Srdjan Vukovic (Newlight) and Christopher Wolfe (Bain Capital) appointed as Class II and I directors.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1794783/000179478325000014/0001794783-25-000014-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1794783/000179478325000014/slqt-20250228.htm
  HTML page:      https://secwatch.observer/filing/0001794783-25-000014

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