Finance of America Companies Inc. Files 8-K

Ticker: FOACW · Form: 8-K · Filed: Sep 17, 2024 · CIK: 1828937

Sentiment: neutral

Topics: material-agreement, filing-update

TL;DR

FOA filed an 8-K on Sept 17, 2024, reporting a material definitive agreement.

AI Summary

On September 17, 2024, Finance of America Companies Inc. filed an 8-K report detailing a material definitive agreement. The filing also includes other events and financial statements and exhibits. The company is incorporated in Delaware and headquartered in Plano, Texas.

Why It Matters

This 8-K filing indicates a significant event or agreement for Finance of America Companies Inc., which could impact its business operations and financial standing.

Risk Assessment

Risk Level: medium — An 8-K filing often signals significant corporate events, which can introduce uncertainty or opportunity, warranting a medium risk assessment.

Key Numbers

Key Players & Entities

FAQ

What is the nature of the material definitive agreement mentioned in the 8-K filing?

The filing indicates a 'Material Definitive Agreement' was entered into by Finance of America Companies Inc. on or before September 17, 2024, but the specific details of the agreement are not provided in the excerpt.

When was this 8-K report filed?

The 8-K report was filed on September 17, 2024.

Where is Finance of America Companies Inc. headquartered?

The company's principal executive offices are located at 5830 Granite Parkway, Suite 400, Plano, Texas 75024.

What is the company's state of incorporation?

Finance of America Companies Inc. is incorporated in Delaware.

What other items are included in this 8-K filing besides the material definitive agreement?

In addition to the material definitive agreement, the filing also includes 'Other Events' and 'Financial Statements and Exhibits'.

Filing Stats: 1,685 words · 7 min read · ~6 pages · Grade level 13.4 · Accepted 2024-09-17 07:46:29

Key Financial Figures

Filing Documents

01. Entry Into a Material Definitive Agreement

Item 1.01. Entry Into a Material Definitive Agreement. On September 17, 2024, certain of the direct and indirect subsidiaries of Finance of America Companies Inc. (the "Company"), including Finance of America Funding LLC ("FOA Funding"), Finance of America Equity Capital LLC, Finance of America Holdings LLC, Incenter LLC, Finance of America Mortgage LLC, Finance of America Reverse LLC and MM Risk Retention LLC (together, the "FOA Parties"), and certain holders of FOA Funding's 7.875% Senior Notes due 2025 (the "2025 Unsecured Notes"), or their investment advisors, sub-advisors or managers, (such holders or their advisors or managers, t ogether with the FOA Parties, the "ESA Parties") entered into a first amendment (the "ESA Amendment") to the previously reported exchange offer support agreement, dated June 24, 2024, by and among the ESA Parties (the "Exchange Offer Support Agreement"), pursuant to which the ESA Parties have agreed to continue to support the exchange offer (the "Exchange Offer") and related consent solicitation (the "Exchange Transactions") for any and all of FOA Funding's $350.0 million aggregate principal amount of 2025 Unsecured Notes for (i) up to $200.0 million aggregate principal amount of 7.875% Senior Secured Notes due 2026 (subject to the interest rate increase to 8.875% per annum from the first anniversary of the issuance date thereof until maturity and to 9.875% per annum during any FOA Funding elected extension period to November 30, 2027, the "New Senior Secured Notes"), (ii) up to $150.0 million aggregate principal amount of 10.000% Exchangeable Senior Secured Notes due 2029 (the "New Exchangeable Notes" and, together with the New Senior Secured Notes, the "New Secured Notes"), for each of clauses (i) and (ii), on a ratable basis per $1,000 principal amount of 2025 Unsecured Notes exchanged and subject to ratable reduction on a dollar for dollar basis based on the aggregate principal amount of 2025 Unsecured Notes that do not particip

01. Other Events

Item 8.01. Other Events. On September 17, 2024, the Company issued a press release announcing the commencement of the Exchange Transactions in accordance with the Exchange Offer Support Agreement, as amended by the ESA Amendment. The Exchange Transactions will expire at 5:00 P.M., New York City time, on October 25, 2024, unless extended by FOA Funding in its sole discretion. In addition, certain technical amendments effective on September 17, 2024, were made to the Working Capital Notes to provide for the terms of the Exchange Transactions. A copy of the Company's press release is being furnished as Exhibit 99.1 and is incorporated herein by reference. Cautionary Note Regarding Forward-Looking Statements This Current Report on Form 8-K contains forward-looking statements within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical facts or statements of current conditions, but instead represent only the Company's beliefs regarding future events, many of which, by their nature, are inherently uncertain and outside of the Company's control. These statements include, but are not limited to, statements related to the Exchange Transactions, including the Company's ability to complete the Exchange Transactions on commercially acceptable terms, on the timeline contemplated or at all, and the Company's ability to realize the intended benefits of the Exchange Transactions. In some cases, you can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "could," "seeks," "projects," "predicts," "intends," "plans," "estimates," "budgets," "forecasts," "anticipates," or the negative version of these words or other comparable words. The Company cautions readers not to place undue reliance upon any forward-looking statements, which are current only as of the date of this Current

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Exhibit Description 10.1 First Amendment to Exchange Offer Support Agreement, dated as of September 17 , 2024, among Finance of America Funding LLC, Finance of America Equity Capital LLC, Finance of America Holdings LLC, Incenter LLC, Finance of America Mortgage LLC, Finance of America Reverse LLC, and MM Risk Retention LLC, and certain holders of, or the investment advisor, sub-advisor or manager to a beneficial or legal holder or holders of the 2025 Unsecured Notes. 99.1 Press Release, dated September 17 , 2024. 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 hereunto duly authorized. Finance of America Companies Inc. Date: September 17, 2024 By: /s/ Matthew A. Engel Name: Matthew A. Engel Title: Chief Financial Officer

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