Coupang, Inc. (CPNG): M&A transaction — Coupang completes $500M acquisition of Farfetch assets; owns 80.1% of joint venture

Coupang, Inc.

Coupang completed acquisition of Farfetch via Surpique LP, owning 80.1% equity; Greenoaks holds 19.9%.
Provided $500M in capital: $150M cash contribution, termination of $150M bridge loans, plus up to $200M commitment.
Farfetch term loans amended: ~$575M outstanding at SOFR+6.25% or Base+5.25%, maturing Oct 2027.
Neil Mehta, Coupang lead independent director, is Greenoaks managing partner; Greenoaks owns 4.4% of Coupang.
Acquisition adds luxury fashion marketplace to Coupang's e-commerce ecosystem.

item 2.01 item 2.03 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.75

Coupang, Inc. incurred credit facility of $500M in capital with Greenoaks at not specified maturing not specified.

Instrument: credit facility
Principal: $500M in capital
Counterparty: Greenoaks
Rate: not specified
Maturity: not specified
Event: incurrence

Exact text from the filing

unds and accounts to which Greenoaks serves as the investment adviser and related persons or entities, including Mr.

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M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Coupang, Inc. completed an acquisition involving Surpique Acquisition Limited for approximately $300 million to the Farfetch Business, consisting of approximately $150 million in cash and the termination of the approximately $150 million aggr (closed 2024-01-30).

Action: acquisition
Counterparty: Surpique Acquisition Limited
Consideration: approximately $300 million to the Farfetch Business, consisting of approximately $150 million in cash and the termination of the approximately $150 million aggr
Closing: 2024-01-30

Exact text from the filing

Following the completion of the marketing process, the directors of Farfetch PLC appointed administrators from AlixPartners UK LLP, who upon appointment entered into a Sale and Purchase Agreement, dated as of January 30, 2024 (the “SPA”), with Surpique Acquisition Limited, a private limited company organized under the laws of England and Wales and an indirect, wholly owned subsidiary of Surpique LP (“Surpique Acquisition”), in connection with which: • Surpique Acquisition acquired the Farfetch Business (the “Sale”); • Surpique Holdings Limited, a private limited company organized under the laws of England and Wales and the owner of all of the outstanding equity interests in Surpique Acquisition (“Surpique Holdings”), and Surpique Acquisition acceded to the Credit Agreement and, thereafter, entered into the Amended Credit Agreement (as defined below); • Surpique LP (i) contributed approxi

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283 debt financings filed in the last 30 days. Browse all debt financings →

Coupang, Inc. filing history →

Source: SEC EDGAR

accession 0001834584-24-000002

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