Equitable Holdings Enters Material Definitive Agreement
Ticker: EQH-PC · Form: 8-K · Filed: Jun 25, 2024 · CIK: 1333986
Sentiment: neutral
Topics: material-agreement, preferred-stock
Related Tickers: EQH
TL;DR
EQH signed a big deal on 6/20 for preferred stock. Details TBD.
AI Summary
On June 20, 2024, Equitable Holdings, Inc. entered into a material definitive agreement related to its Series A and Series C Preferred Stock. The filing does not disclose specific details of the agreement or any associated dollar amounts.
Why It Matters
This filing indicates a significant contractual development for Equitable Holdings, Inc., potentially impacting its preferred stock structure and future financial obligations.
Risk Assessment
Risk Level: medium — The lack of specific details in the filing regarding the nature and financial implications of the agreement introduces uncertainty.
Key Players & Entities
- Equitable Holdings, Inc. (company) — Registrant
- June 20, 2024 (date) — Date of earliest event reported
- Series A Preferred Stock (security) — Subject of the agreement
- Series C Preferred Stock (security) — Subject of the agreement
FAQ
What is the specific nature of the material definitive agreement entered into by Equitable Holdings, Inc. on June 20, 2024?
The filing states that Equitable Holdings, Inc. entered into a material definitive agreement on June 20, 2024, but does not provide specific details about its nature.
Which series of preferred stock are involved in this agreement?
The agreement involves Equitable Holdings, Inc.'s Series A Preferred Stock and Series C Preferred Stock.
Are there any disclosed financial terms or dollar amounts associated with this agreement?
No specific dollar amounts or financial terms related to this agreement are disclosed in the provided filing excerpt.
What is the significance of filing an 8-K for this event?
An 8-K filing is required for material definitive agreements, indicating that this event is significant enough to warrant public disclosure to investors.
When was the report filed with the SEC?
The report was filed on June 25, 2024.
Filing Stats: 694 words · 3 min read · ~2 pages · Grade level 13 · Accepted 2024-06-25 16:15:09
Filing Documents
- eqh-20240620.htm (8-K) — 52KB
- 0000950170-24-077289.txt ( ) — 205KB
- eqh-20240620.xsd (EX-101.SCH) — 51KB
- eqh-20240620_htm.xml (XML) — 7KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. On June 20, 2024, Equitable Holdings, Inc. (the "Company") entered into Amendment No. 5 (the "Commerzbank Amendment") to the Reimbursement Agreement with Commerzbank AG, New York Branch ("Commerzbank"). The Commerzbank Amendment further amends the Reimbursement Agreement entered into by the Company and Commerzbank on February 16, 2018. Capitalized terms used herein and not otherwise defined have the meanings ascribed to them in the Commerzbank Amendment. The Commerzbank Amendment prolongs the one-year extensions of the Commitment Termination Date to 12 years from the Effective Date. The foregoing description of the Commerzbank Amendment is qualified in its entirety by the terms of such agreement, which will be filed as an exhibit to the Company's Quarterly Report on Form 10-Q for the quarter ending June 30, 2024. On June 20, 2024, the Company also entered into the Sixth Amendment (the "Helaba Amendment") to the Reimbursement Agreement with Landesbank Hessen-Thringen Girozentrale, acting through its New York Branch ("Helaba"). The Helaba Amendment further amends the Reimbursement Agreement entered into by the Company and Helaba on February 16, 2018. Capitalized terms used herein and not otherwise defined have the meanings ascribed to them in the Helaba Amendment. The Helaba Amendment prolongs the one-year extensions of the Commitment Termination Date to 11 years from the Effective Date. The foregoing description of the Helaba Amendment is qualified in its entirety by the terms of such agreement, which will be filed as an exhibit to the Company's Quarterly Report on Form 10-Q for the quarter ending June 30, 2024. Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.
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. EQUITABLE HOLDINGS, INC. Date: June 25, 2024 By: /s/ Ralph Petruzzo Ralph Petruzzo Associate General Counsel