Advantage Solutions Inc. Enters Material Definitive Agreement

TL;DR

Advantage Solutions Inc. signed a new deal on April 17th regarding warrants.

AI Summary

On April 17, 2024, Advantage Solutions Inc. entered into a material definitive agreement related to its warrants to purchase Class A Common Stock. This agreement is a direct financial obligation for the company.

Why It Matters

This filing indicates a significant contractual development for Advantage Solutions Inc., potentially impacting its financial obligations and capital structure.

Risk Assessment

Risk Level: medium — Material definitive agreements can introduce new financial obligations or alter existing ones, carrying inherent risks.

Key Players & Entities

• Advantage Solutions Inc. (company) — Registrant
• April 17, 2024 (date) — Date of earliest event reported
• Class A Common Stock (security) — Warrants to purchase
• Conyers Park II Acquisition Corp. (company) — Former company name

FAQ

Key Financial Figures

• $0.0001 — hich registered Class A common stock, $0.0001 par value per share ADV NASDAQ Glob
• $11.50 — A common stock at an exercise price of $11.50 per share ADVWW NASDAQ Global Selec

Filing Documents

• adv-20240417.htm (8-K) — 51KB
• adv-ex10_1.htm (EX-10.1) — 2952KB
• img193286801_0.jpg (GRAPHIC) — 1KB
• 0000950170-24-045245.txt ( ) — 3616KB
• adv-20240417.xsd (EX-101.SCH) — 96KB
• adv-20240417_htm.xml (XML) — 6KB

01 - Entry into a Material Definitive Agreement

Item 1.01 - Entry into a Material Definitive Agreement Third Amendment to First Lien Credit Agreement On April 17, 2024 (the " Third Amendment Effective Date "), Advantage Sales & Marketing Inc. (the " Borrower "), an indirect wholly-owned subsidiary of Advantage Solutions Inc. (the " Company "), together with Karman Intermediate Corp., a Delaware corporation (" Holdings ") and certain of the Borrower's subsidiaries, entered into Amendment No. 3 to the First Lien Credit Agreement (the " Third Amendment "), which amends the First Lien Credit Agreement, dated as of October 28, 2020 (as amended, restated, modified and supplemented from time to time, the " First Lien Credit Agreement "), by and among the Borrower, Holdings, each lender from time to time party thereto, Bank of America, N.A. (" Bank of America "), as administrative agent (in such capacity, including any successor thereto, the " Administrative Agent "), and the other parties thereto. The Third Amendment was entered into by the Borrower to amend certain terms and provisions, including: (i) reducing the applicable interest rate margin on the term loan (a) for Term SOFR Loans (as defined in the amended First Lien Credit Agreement), from 4.50% to 4.25% or (b) for Base Rate Loans (as defined in the amended First Lien Credit Agreement), from 3.50% to 3.25%; and (ii) resetting the period for six months following the Third Amendment Effective Date in which a 1.00% prepayment premium shall apply to any prepayment of the term loans in connection with a Repricing Event (as defined in the amended First Lien Credit Agreement). The foregoing description of the Third Amendment is only a summary, does not purport to be complete, and is qualified in its entirety by reference to the full text of the Third Amendment, which is filed as Exhibit 10.1 hereto, and the First Lien Credit Agreement, which was filed as an exhibit to the Company's Current Report on Form 8-K, previously filed with the Securities and Exchang

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 Amendment No. 3 to First Lien Credit Agreement, dated as of April 17, 2024, by and among the Borrower, Holdings, the other guarantors parties thereto, each lender party thereto, and Bank of America, as administrative agent. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. ADVANTAGE SOLUTIONS INC. Date: April 17, 2024 By: /s/ Christopher Growe Christopher Growe Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR