Falcon's Beyond Global Enters Material Agreement, Incurs Obligation
Ticker: FBYDW · Form: 8-K · Filed: Nov 27, 2024 · CIK: 1937987
Sentiment: neutral
Topics: material-agreement, financial-obligation
Related Tickers: FBYD
TL;DR
FBYD inks new deal, takes on debt. Big moves ahead.
AI Summary
On November 27, 2024, Falcon's Beyond Global, Inc. filed an 8-K report detailing a material definitive agreement and a direct financial obligation. The filing indicates the company entered into a new agreement and incurred a financial obligation, the specifics of which are detailed within the report.
Why It Matters
This filing signals a significant new financial commitment or partnership for Falcon's Beyond Global, which could impact its future operations and financial standing.
Risk Assessment
Risk Level: medium — Entering into material definitive agreements and incurring financial obligations can introduce new risks related to performance, repayment, and market conditions.
Key Players & Entities
- Falcon's Beyond Global, Inc. (company) — Registrant
- November 27, 2024 (date) — Date of earliest event reported
FAQ
What is the nature of the material definitive agreement entered into by Falcon's Beyond Global, Inc.?
The filing indicates the entry into a material definitive agreement, but the specific details of the agreement are not provided in this summary section of the 8-K.
What is the direct financial obligation incurred by Falcon's Beyond Global, Inc.?
The filing states that the company has created a direct financial obligation, but the specific terms and amount of this obligation are not detailed in the provided summary.
What is the significance of the 'Creation of a Direct Financial Obligation' item in the 8-K filing?
This item signifies that Falcon's Beyond Global, Inc. has entered into a new financial commitment that will appear on its balance sheet.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on November 27, 2024.
What is the primary purpose of this 8-K filing for Falcon's Beyond Global, Inc.?
The primary purpose is to report the entry into a material definitive agreement and the creation of a direct financial obligation, as required by SEC regulations.
Filing Stats: 976 words · 4 min read · ~3 pages · Grade level 12.4 · Accepted 2024-11-27 16:05:42
Key Financial Figures
- $0.0001 — tered Class A common stock, par value $0.0001 per share FBYD The Nasdaq Stock Mar
- $11.50 — A common stock, at an exercise price of $11.50 per share FBYDW The Nasdaq Stock Ma
- $250,000 — 31, 2025, then the lenders will be paid $250,000, and if the asset sale is not completed
Filing Documents
- ea0222816-8k_falcons.htm (8-K) — 33KB
- ea022281601ex10-1_falcons.htm (EX-10.1) — 20KB
- ea022281601ex10-2_falcons.htm (EX-10.2) — 18KB
- 0001213900-24-103455.txt ( ) — 297KB
- fbydw-20241127.xsd (EX-101.SCH) — 4KB
- fbydw-20241127_def.xml (EX-101.DEF) — 26KB
- fbydw-20241127_lab.xml (EX-101.LAB) — 36KB
- fbydw-20241127_pre.xml (EX-101.PRE) — 25KB
- ea0222816-8k_falcons_htm.xml (XML) — 6KB
01 Entry Into a Material Definitive
Item 1.01 Entry Into a Material Definitive Agreement The information in this Current Report on Form 8-K (this "Report") set forth under Item 2.03 is incorporated herein by reference.
03 Creation of a Direct Financial Obligation
Item 2.03 Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant Third Amendment to Katmandu Ventures Loan Agreement On November 27, 2024, the Falcon's Beyond Global, Inc. (the "Company"), through Falcon's Beyond Global, LLC ("Falcon's OpCo"), entered into a third amendment to the Katmandu Ventures Loan Agreement (the "Third Amendment to Katmandu Ventures Loan Agreement") with Katmandu Ventures, LLC ("Katmandu Ventures"), a greater than 10% shareholder of the Company, and FAST Sponsor II LLC ("FAST Sponsor"). The Third Amendment to Katmandu Ventures Loan Agreement amends the term loan agreement, dated March 28, 2024, as amended June 14, 2024 and October 18, 2024, between Falcon's OpCo and Katmandu Ventures and FAST Sponsor (the "Katmandu Ventures Loan Agreement"). The Third Amendment to Katmandu Ventures Loan Agreement amends the repayment schedule, amends the maturity date to February 28, 2025, and increases the interest rate from and after November 16, 2024 to accrue at a fixed rate of 11.75% per annum, and makes the loan immediately due and payable within five business days upon the receipt of funds from the completion of an asset sale or upon the receipt of third-party financing. Third Amendment to Universal Kat Loan Agreement On November 27, 2024, the Company, through Falcon's OpCo, entered into a third amendment to the Universal Kat Loan Agreement (the "Third Amendment to Universal Kat Loan Agreement") with FAST Sponsor. The Third Amendment to Universal Kat Loan Agreement amends the term loan agreement, dated March 22, 2024, as amended June 14, 2024 and October 18, 2024, between Falcon's OpCo and FAST Sponsor (the "Universal Kat Loan Agreement"). The Third Amendment to Universal Kat Loan Agreement amends the repayment schedule, amends the maturity date to February 28, 2025, increases the interest rate from and after November 16, 2024 to accrue at a fixed rate of 11.75% per annum, and makes the
01. Financial
Item 9.01. Financial (d) Exhibits Exhibit Number Description 10.1* Third Amendment to Katmandu Loan Agreement, dated as of November 27, 2024, entered into by and among Falcon's Beyond Global, LLC, Katmandu Ventures, LLC and FAST Sponsor II LLC. 10.2* Third Amendment to Universal Kat Loan Agreement, dated as of November 27, 2024, entered into by and among Falcon's Beyond Global, LLC, Universal Kat Holdings, LLC and FAST Sponsor II LLC. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). * Schedules to this Exhibit have been omitted in accordance with Regulation S-K Item 601(a)(5). The Company agrees to furnish a copy of all omitted exhibits and schedules to the SEC upon its request. 1
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. Date: November 27, 2024 FALCON'S BEYOND GLOBAL, INC. By: /s/ Bruce A. Brown Name: Bruce A. Brown Title: Chief Legal Officer & Corporate Secretary 2