Coupang, Inc. Signs Material Definitive Agreement
Ticker: CPNG · Form: 8-K · Filed: Apr 5, 2024 · CIK: 1834584
| Field | Detail |
|---|---|
| Company | Coupang, INC. (CPNG) |
| Form Type | 8-K |
| Filed Date | Apr 5, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.0001, $17.79, $177,900,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement
TL;DR
Coupang just signed a big deal, details TBD.
AI Summary
On April 2, 2024, Coupang, Inc. entered into a material definitive agreement. The filing does not disclose the specific details of this agreement, only that it is a significant event requiring an 8-K filing.
Why It Matters
This filing indicates a significant new contract or partnership for Coupang, which could impact its future operations and financial performance.
Risk Assessment
Risk Level: medium — The lack of specific details in the filing creates uncertainty about the nature and impact of the agreement.
Key Players & Entities
- Coupang, Inc. (company) — Registrant
FAQ
What is the nature of the material definitive agreement entered into by Coupang, Inc.?
The filing does not specify the details of the material definitive agreement.
When did Coupang, Inc. enter into this agreement?
Coupang, Inc. entered into the agreement on April 2, 2024.
What is the filing date for this Form 8-K?
The Form 8-K was filed on April 5, 2024.
What is Coupang, Inc.'s principal executive office address?
Coupang, Inc.'s principal executive offices are located at 720 Olive Way, Suite 600, Seattle, Washington 98101.
What is Coupang, Inc.'s telephone number?
Coupang, Inc.'s telephone number is (206) 333-3839.
Filing Stats: 816 words · 3 min read · ~3 pages · Grade level 13.3 · Accepted 2024-04-05 15:59:25
Key Financial Figures
- $0.0001 — stered Class A Common Stock, par value $0.0001 per share CPNG New York Stock Exchange
- $17.79 — the Company's Class A Common Stock for $17.79 per share in a privately negotiated tra
- $177,900,000 — tion for an aggregate purchase price of $177,900,000 (the "Repurchase"). The Repurchase Agre
Filing Documents
- cpng-20240402.htm (8-K) — 27KB
- april2024sharepurchaseagre.htm (EX-10.1) — 39KB
- cpng-20240402_g1.jpg (GRAPHIC) — 10KB
- 0001834584-24-000034.txt ( ) — 272KB
- cpng-20240402.xsd (EX-101.SCH) — 2KB
- cpng-20240402_def.xml (EX-101.DEF) — 11KB
- cpng-20240402_lab.xml (EX-101.LAB) — 31KB
- cpng-20240402_pre.xml (EX-101.PRE) — 23KB
- cpng-20240402_htm.xml (XML) — 3KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement On April 2, 2024, Coupang, Inc. (the "Company") entered into a Share Repurchase Agreement (the "Repurchase Agreement"), which is effective as of April 1, 2024, with Maverick Holdings C, L.P., an early stage investor, for the Company to repurchase 10,000,000 shares of the Company's Class A Common Stock for $17.79 per share in a privately negotiated transaction for an aggregate purchase price of $177,900,000 (the "Repurchase"). The Repurchase Agreement contains customary representations, warranties, and covenants of the parties. The Repurchase was consummated on April 3, 2024. The Company is constantly evaluating its capital allocation strategy and will continue to assess various opportunities, including share repurchases, to generate long-term shareholder value. The foregoing description of the Repurchase Agreement is a summary and is qualified in its entirety by the terms of the Repurchase Agreement, a copy of which is filed with this Current Report on Form 8-K as Exhibit 10.1 and is incorporated herein by reference.
Forward-Looking Statements
Forward-Looking Statements This report may contain statements that may be deemed to be "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Act"), that are intended to enjoy the protection of the safe harbor for forward-looking statements provided by the Act as well as protections afforded by other federal securities laws, including statements regarding the Company's capital allocation strategy, including the Repurchase and any additional purchases by the Company of its common stock, and the impact thereof on long-term shareholder value. Forward looking information and statements are subject to risks, uncertainties, and contingencies, including changes in price and volume and the volatility of the Company's common stock; adverse developments affecting either or both of prices and trading of securities, including securities listed on the New York Stock Exchange; and unexpected or otherwise unplanned or alternative requirements with respect to the capital investments of the Company. For additional information on other potential risks and uncertainties that could cause actual results to differ from the results predicted, please see our most recent Annual Report on Form 10-K and subsequent filings. All forward-looking statements in this report are based on information available to the Company and assumptions and beliefs as of the date hereof, and the Company disclaims any obligation to update any forward-looking statements, except as required by law. The Company may not actually achieve the plans, intentions, or expectations disclosed in its forward-looking statements, and you should not place undue reliance on the Company's forward-looking statements.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description of Exhibit 10.1 Share Purchase Agreement, dated April 1, 2024, by and between Company and Maverick Holdings C, L.P. 104 Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101).
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 hereunto duly authorized. COUPANG, INC. (REGISTRANT) By: /s/ James Roe James Roe Deputy General Counsel and Corporate Secretary Dated: April 5, 2024