BuzzFeed amends credit line to allow up to $7.35M in overadvances through Dec 2023

BuzzFeed, Inc.

Third Amendment permits overadvances up to $7.35M during Sep 26, 2023 to Dec 31, 2023 period.
Interest rate margin increases by 0.75% (to 4.50%-5.00%) while overadvances are outstanding.
Borrower must maintain at least $30M in Unrestricted Cash, Undrawn Availability, and similar funds.
BuzzFeed pays a $100,000 fee and reaffirms all security interests in IP and other assets.
Amendment is with White Oak Commercial Finance, LLC as administrative agent and lender.

item 1.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

BuzzFeed, Inc. amended Third Amendment with White Oak Commercial Finance, LLC (effective 2023-09-26).

Action: amendment
Agreement: credit facility
Counterparty: White Oak Commercial Finance, LLC
Effective: 2023-09-26

Exact text from the filing

On September 26, 2023, BuzzFeed, Inc. (the “Company”), BuzzFeed Media Enterprises, Inc., as administrative borrower, certain of the Company’s other domestic subsidiaries and foreign subsidiaries, as borrowers and/or guarantors, White Oak Commercial Finance, LLC, as administrative agent, and the other lenders from time to time party thereto, entered into the Third Amendment to the Amended and Restated Loan and Security Agreement (the “Third Amendment”)

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Source: SEC EDGAR

accession 0001828972-23-000170

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