BuzzFeed amends convertible note indenture to permit Complex Networks sale, mandates $30.9M redemption

BuzzFeed, Inc.

Second supplemental indenture amends 8.50% Convertible Senior Notes due 2026, dated Feb 28, 2024.
Permits sale of Complex Networks assets as defined in the Feb 21 Asset Purchase Agreement with Commerce Media Holdings.
Mandates redemption of $30.9M from Complex sale proceeds; 95% of net proceeds from future asset sales required for redemption.
Replaces de minimis asset sale exception with Specified Disposition concept (aggregate cap $10M).
Company prohibited from open-market note purchases unless at 100% par in a pro rata offer to all holders.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

BuzzFeed, Inc. amended Second Supplemental Indenture with Wilmington Savings Fund Society, FSB valued at Second Supplemental Indenture to 8.50% Convertible Senior Notes due 2026 (effective 2024-02-28).

Action: amendment
Agreement: notes offering
Counterparty: Wilmington Savings Fund Society, FSB
Value: Second Supplemental Indenture to 8.50% Convertible Senior Notes due 2026
Effective: 2024-02-28

Exact text from the filing

On February 28, 2024, BuzzFeed, Inc. (“ BuzzFeed ” or the “ Company ”) entered into a second supplemental indenture (the “ Second Supplemental Indenture ”) among the Company and Wilmington Savings Fund Society, FSB, as trustee (the “ Trustee ”), amending and supplementing the indenture (the “ Indenture ”), dated as of December 3, 2021, as amended and supplemented, providing for the issuance of the Company’s 8.50% Convertible Senior Notes due 2026 (the “ Notes ”).

View on SEC.gov

737 material agreements filed in the last 30 days. Browse all material agreements →

BuzzFeed, Inc. filing history →

Source: SEC EDGAR

accession 0001828972-24-000019

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.