System1 repurchases $63.7M term loan at discount for $40.9M, records ~$22.8M gain

System1, Inc.

Repurchased $63.7M principal of senior secured term loan for $40.9M (36% discount).
Outstanding principal post-repurchase: $301.3M.
Estimated gain of ~$22.8M before fees; funded with available cash.
Transaction executed via modified Dutch auction tender offer under Credit Agreement.

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