{"schema_version":"secwatch.filing_event.v1","accession":"0001805833-24-000026","form_type":"8-K","ticker":"SST","cik":"0001805833","company_name":"System1, Inc.","filed_at":"2024-01-17T23:59:59+00:00","discovered_at":"2026-05-14T18:03:25.603543+00:00","generated_at":"2026-06-06T22:38:53.769749+00:00","sec_items":["7.01","9.01"],"event_type":"debt","sentiment":"positive","materiality_score":0.55,"calibrated_materiality_score":0.55,"confidence":"high","headline":"System1 repurchases $63.7M term loan at discount for $40.9M, records ~$22.8M gain","bullets":["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."],"urls":{"canonical":"https://secwatch.observer/filing/0001805833-24-000026","json":"https://secwatch.observer/filing/0001805833-24-000026.json","markdown":"https://secwatch.observer/filing/0001805833-24-000026.md","text":"https://secwatch.observer/filing/0001805833-24-000026.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1805833/000180583324000026/0001805833-24-000026-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1805833/000180583324000026/sst-20240117.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-06T22:38:53.769749+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}