CLARIVATE PLC Files Routine 8-K on Financial Condition

TL;DR

**Clarivate PLC filed a standard 8-K, no major news, just routine financial condition update.**

AI Summary

Clarivate PLC filed an 8-K on January 22, 2024, indicating a routine filing for "Results of Operations and Financial Condition" and "Financial Statements and Exhibits." This filing, under Commission File Number 001-38911, updates the public record regarding the company's financial status and does not announce any new, material events. For investors, this means there's no immediate news of acquisitions, major leadership changes, or significant financial shifts, suggesting business as usual for Clarivate PLC (CLVT).

Why It Matters

This filing is a standard update, providing transparency on Clarivate PLC's financial health without signaling any immediate, impactful changes for shareholders. It's important for investors to note the absence of extraordinary events.

Risk Assessment

Risk Level: low — This 8-K is a routine filing and does not disclose any new risks or material events that would immediately impact the company's risk profile.

Analyst Insight

A smart investor would view this as a routine update, not signaling any immediate need for action. It's a good reminder to keep an eye on future, more substantive filings for actual financial results or strategic changes.

Key Numbers

• 20240122 — Filing Date (The date the 8-K was filed with the SEC.)
• 001-38911 — Commission File Number (Unique identifier for Clarivate PLC's filings with the SEC.)

Key Players & Entities

• CLARIVATE PLC (company) — the registrant filing the 8-K
• 001-38911 (dollar_amount) — Commission File Number
• January 22, 2024 (date) — Date of Report (date of earliest event reported)
• Jersey, Channel Islands (location) — State or other jurisdiction of incorporation or organization
• 70 St. Mary Axe London EC3A 8BE United Kingdom (location) — Address of Principal Executive Offices
• (44) 207-433-4000 (phone_number) — Registrant’s telephone number
• CLVT (ticker) — Trading Symbol for Ordinary Shares
• New York Stock Exchange (exchange) — Exchange where Ordinary Shares are registered

FAQ

Key Financial Figures

• $2.2 billion — r into a new, seven-year senior secured $2.2 billion term loan B credit facility. The strate
• $800 million — dwill impairment charge in the range of $800 million to $900 million across the Intellectual
• $900 million — charge in the range of $800 million to $900 million across the Intellectual Property and Li

Filing Documents

• tm243777d1_8k.htm (8-K) — 33KB
• tm243777d1_ex99-1.htm (EX-99.1) — 51KB
• 0001104659-24-005379.txt ( ) — 307KB
• clvt-20240122.xsd (EX-101.SCH) — 3KB
• clvt-20240122_def.xml (EX-101.DEF) — 26KB
• clvt-20240122_lab.xml (EX-101.LAB) — 36KB
• clvt-20240122_pre.xml (EX-101.PRE) — 25KB
• tm243777d1_8k_htm.xml (XML) — 5KB

02. Results of Operations and Financial Condition

Item 2.02. Results of Operations and Financial Condition. On January 22, 2024, Clarivate Plc ("Clarivate" or the "Company" or "we" or "us" or "our") issued a press release announcing that it is launching a process to refinance its outstanding senior secured term loans under its existing term loan B, scheduled to mature in October 2026. As part of this effort, the Company will seek to enter into a new, seven-year senior secured $2.2 billion term loan B credit facility. The strategic refinancing is intended to improve financial flexibility, including extending the company's debt maturities. In connection with the launch of the debt refinancing process, Clarivate is announcing that it expects to incur a goodwill impairment charge in the range of $800 million to $900 million across the Intellectual Property and Life Sciences & Healthcare segment reporting units in the fourth quarter 2023. We perform goodwill impairment testing during the fourth quarter of each year, or more frequently if events or changes in circumstances indicate that carrying value may not be recoverable. In assessing whether a potential impairment event has occurred, we evaluate various factors, many of which are subjective and require significant judgment. The charge is expected to lower the Company's 2023 forecast of a GAAP net loss but will have no impact on the 2023 full year outlook for Revenues, Organic Revenue Growth, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Diluted EPS and Free Cash Flow as outlined in its third quarter 2023 earnings press release issued on November 7, 2023. The press release has been furnished with this Form 8-K as Exhibit 99.1 and is posted on the investor relations section of the Company's website ( http://ir.clarivate.com/ ). The information in this Item 2.02, including Exhibit 99.1 furnished herewith, is being furnished and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or

Forward-Looking Statements

Forward-Looking Statements This communication contains "forward-looking current views concerning future business, events, trends, contingencies, financial performance, or financial condition, appear at various places in this communication and may use words like "aim," "anticipate," "assume," "believe," "continue," "could," "estimate," "expect," "forecast," "future," "goal," "intend," "likely," "may," "might," "plan," "potential," "predict," "project," "see," "seek," "should," "strategy," "strive," "target," "will," and "would" and similar expressions, and variations or negatives of these words. Examples of forward-looking statements include, among others, statements we make regarding: guidance outlook and predictions relating to expected operating results, such as revenue growth and earnings; strategic actions such as acquisitions, joint ventures, and dispositions, including the anticipated benefits therefrom, and our success in integrating acquired businesses; anticipated levels of capital expenditures in future periods; our ability to successfully realize cost savings initiatives and transition services expenses; our belief that we have sufficient liquidity to fund our ongoing business operations; expectations of the effect on our financial condition of claims, litigation, environmental costs, the impact of inflation, the impact of foreign currency fluctuations, the COVID-19 pandemic and governmental responses thereto, international hostilities, contingent liabilities, and governmental and regulatory investigations and proceedings; and our strategy for customer retention, growth, product development, market position, financial results, and reserves. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on management's current beliefs, expectations, and assumptions regardi

01. Financial

Item 9.01. Financial (d) Exhibits. No. Description 99.1 Press release issued by Clarivate Plc dated January 22, 202 4 104 The cover page from the Company's Current Report on Form 8-K dated January 22, 2024, formatted in Inline XBRL SIGNATURE 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. CLARIVATE PLC Date: January 22, 2024 By: /s/ Jonathan M. Collins Name: Jonathan M. Collins Executive Vice President & Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR