---
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"
generated_at: "2026-06-06T22:38:53.769749+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: positive
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 7.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001805833-24-000026
- JSON: https://secwatch.observer/filing/0001805833-24-000026.json
- Plain text: https://secwatch.observer/filing/0001805833-24-000026.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.