BuzzFeed secures $40M term loan, repays convertible notes, buys back 4.9% of shares

BuzzFeed, Inc.

$40M term loan from Sound Point Agency LLC (SOFR+6.5%, floor 3.5%), matures May 23, 2028, secured by substantially all assets.
Proceeds used to redeem all $29.7M outstanding 8.50% Convertible Senior Notes due 2026 in full.
Repurchased 1,826,845 shares at $1.824/share from NEA 13 for ~$3.3M (4.9% of Class A common stock outstanding).
Minimum liquidity covenant of $5M; no other financial maintenance covenants; prepayment allowed after 1 year with premium.

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