BuzzFeed sells First We Feast for $82.5M cash; reduces debt to ~$30M

BuzzFeed, Inc.

Sold First We Feast to consortium led by Soros Fund Management affiliate for $82.5M all-cash, closing Dec 11, 2024.
Uses 95% of net proceeds (~$75.6M) plus cash to redeem $75.6M of 8.50% Convertible Senior Notes due 2026; also privately repurchases $12M of notes, leaving ~$30M outstanding.
Q4 2024 continuing operations guidance: revenue $54-58M, Adjusted EBITDA $4-9M (excluding First We Feast as discontinued operations).
Approved cash bonuses: CFO Matt Omer $95k, Chief Legal Officer David Arroyo $96.6k in connection with the sale.
Company states cash balance exceeds remaining debt post-transaction, focusing on programmatic advertising and affiliate commerce.

item 1.01 item 2.01 item 5.02 item 7.01 item 9.01

Machine-readable event card

schema_version: secwatch.filing_event.v1
accession: 0001828972-24-000249
form_type: 8-K
ticker: BZFD
cik: 0001828972
company_name: BuzzFeed, Inc.
filed_at: 2024-12-12T23:59:59+00:00
discovered_at: 2026-05-14T18:03:09.882586+00:00
generated_at: 2026-05-29T04:17:32.485456+00:00
sec_items: ["1.01", "2.01", "5.02", "7.01", "9.01"]
event_type: m_and_a
sentiment: positive
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: high
secwatch_canonical_url: https://secwatch.observer/filing/0001828972-24-000249
json_url: https://secwatch.observer/filing/0001828972-24-000249.json
markdown_url: https://secwatch.observer/filing/0001828972-24-000249.md
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edgar_primary_document_url: https://www.sec.gov/Archives/edgar/data/1828972/000182897224000249/bzfd-20241210.htm
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corrected: false
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Source: SEC EDGAR

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