Form 8-K - Current report
07 Junio 2024 - 8:04AM
Edgar (US Regulatory)
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0000849399
0000849399
2024-06-05
2024-06-05
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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): June 5, 2024
Gen
Digital Inc.
(Exact
Name of Registrant as Specified in its Charter)
Delaware
(State or other Jurisdiction
of Incorporation) |
000-17781
(Commission
File Number) |
77-0181864
(IRS
Employer
Identification No.) |
60 E. Rio Salado Parkway, Suite 1000
Tempe, AZ 85281
(Address of principal executive offices)
(Zip Code)
Registrant's
telephone number, including area code: (650) 527-8000
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
¨ |
Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ |
Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ |
Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ |
Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
Title of each class |
|
Trading Symbol(s) |
|
Name of each exchange on which
registered |
Common
Stock, par value $0.01 per share |
|
GEN |
|
The Nasdaq Stock Market LLC |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ¨
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 1.01. | Entry
into a Material Definitive Agreement. |
On
June 5, 2024 (the “Closing Date”), Gen Digital Inc. (the “Company” or “Gen”) entered into the
First Amendment to Amended and Restated Credit Agreement (the “Amendment”) with the guarantors party thereto, Bank of America,
N.A., as administrative agent, each consenting term lender and Wells Fargo Bank, National Association, as additional tranche B-1 term
lender (“Additional Tranche B-1 Term Lender”), pursuant to which the Company amended its Amended and Restated Credit Agreement,
dated as of September 12, 2022 (the “Existing Credit Agreement”). Pursuant to the Amendment, the Company refinanced
its existing $3,690 million term B facility maturing September 12, 2029 (of which approximately $2,443,875,000 was outstanding immediately
prior to the Closing Date) with a repriced $2,443,875,000 term B-1 facility (the “Term B-1 Facility” and such repriced term
loans, the “Tranche B-1 Term Loans”). The Term B-1 Facility includes additional tranche B-1 term loans (“Additional
Tranche B-1 Term Loans”) in an aggregate principal amount equal to $209,388,958.66 made by the Additional Tranche B-1 Term Lender
that were used to repay in full the term loans under the initial term B facility made by any non-consenting term lender. The Additional
Tranche B-1 Term Loans have the same terms and provisions as the Tranche B-1 Term Loans of the consenting term lenders.
The
Tranche B-1 Term Loans will bear interest, at the Company’s option, at either a rate equal to (x) the bank’s base rate
plus a 0.75% margin or (y) SOFR, plus a 1.75% margin. Under the terms of the Amendment, the Company may select an interest period
of one, three or six months for the Tranche B-1 Term Loans if the SOFR rate is chosen.
Prior
to the six month anniversary of the Closing Date, any voluntary prepayment by the Company of loans under the Term B-1 Facility made in
connection with a further Repricing Transaction (as defined in the Credit Agreement) is subject to a 1.00% prepayment premium. On and
after the six month anniversary of the Closing Date, the Company may voluntarily prepay outstanding loans under the Term B-1 Facility
at any time without premium or penalty. Voluntary prepayments under the Credit Agreement may be applied as directed by the Company.
Other
than as described above, the loans under the Amendment continue to have the same terms as provided under the Existing Credit Agreement.
Additionally, the parties to the Amendment continue to have the same obligations set forth in the Existing Credit Agreement.
The
foregoing summary of the Amendment does not purport to be complete and is subject to, and qualified in its entirety by, the full text
of the Amendment, a copy of which will be be filed as an exhibit to the Company’s Quarterly Report on Form 10-Q for the three
months ended June 28, 2024.
Item 2.03. | Creation
of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement
of a Registrant. |
The
description of the Amendment set forth in Item 1.01 above is incorporated into this Item 2.03 by reference.
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized on this 7th day of June, 2024.
|
Gen
Digital Inc. |
|
|
|
|
By: |
/s/
Bryan Ko |
|
|
Bryan Ko |
|
|
Chief Legal Officer and Corporate Secretary |
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