Green Dot Corp Enters Material Definitive Agreement

TL;DR

GDOT just signed a big deal, creating a new financial obligation. Keep an eye on this.

AI Summary

On September 6, 2024, Green Dot Corporation entered into a material definitive agreement, creating a direct financial obligation. The filing details this agreement and related financial obligations, with the company incorporated in Delaware and headquartered in Austin, Texas.

Why It Matters

This filing indicates a significant new financial commitment or obligation for Green Dot Corporation, which could impact its financial standing and future operations.

Risk Assessment

Risk Level: medium — Entering into material definitive agreements and creating new financial obligations can introduce financial risks and uncertainties for a company.

Key Numbers

• 001-34819 — SEC File Number (Identifies Green Dot Corporation's filing with the SEC.)
• 95-4766827 — IRS Employer Identification No. (Company's tax identification number.)

Key Players & Entities

• Green Dot Corporation (company) — Registrant
• September 6, 2024 (date) — Date of Report
• Delaware (jurisdiction) — State of Incorporation
• Austin, Texas (location) — Principal Executive Offices
• 114 W 7th Street, Suite 240 (address) — Principal Executive Offices Address

FAQ

Key Financial Figures

• $0.001 — hich registered: Class A Common Stock, $0.001 par value GDOT New York Stock Exchange
• $45 million — e 2029 in aggregate principal amount of $45 million (the "Notes") in a private placement (t

Filing Documents

• gdot-20240906.htm (8-K) — 33KB
• a2024-09x06exb101seniornot.htm (EX-10.1) — 395KB
• a2024-09x06exb991pressrele.htm (EX-99.1) — 11KB
• greendot_corporatelogov4a.jpg (GRAPHIC) — 102KB
• 0001386278-24-000071.txt ( ) — 778KB
• gdot-20240906.xsd (EX-101.SCH) — 2KB
• gdot-20240906_lab.xml (EX-101.LAB) — 21KB
• gdot-20240906_pre.xml (EX-101.PRE) — 12KB
• gdot-20240906_htm.xml (XML) — 3KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. On September 6, 2024, Green Dot Corporation (the "Company") completed the issuance and sale of its 8.75% Fixed Rate Senior Notes due 2029 in aggregate principal amount of $45 million (the "Notes") in a private placement (the "Transaction") exempt from the registration requirements under the Securities Act of 1933, as amended (the "Securities Act"). The Transaction was completed pursuant to a Senior Note Purchase Agreement dated as of September 6, 2024 (the "Purchase Agreement"), entered into by the Company with certain "qualified institutional buyers" as defined in Rule 144A under the Securities Act and "accredited investors" as defined in Rule 501 of Regulation D under the Securities Act. The Purchase Agreement contains customary representations, warranties, covenants and agreements for transactions of this type. The Notes bear interest at 8.75% per annum, from and including September 6, 2024, to but excluding September 15, 2029 or the earlier redemption of the Notes, payable semi-annually in arrears on March 15 and September 15 of each year, beginning March 15, 2025. The Company may, at its option, before March 15, 2029, redeem the Notes in whole or in part at any time at a redemption price equal to 100% of the outstanding principal amount to be redeemed, together with accrued but unpaid interest thereon to but excluding the redemption date, plus a make-whole amount. On and after March 15, 2029, the Company may redeem the Notes at 100% of the principal amount thereof, plus accrued and unpaid interest thereon to but excluding the redemption date. The Notes are unsecured, senior obligations of the Company and are not guaranteed by any of the Company's subsidiaries. The Notes are junior in right of payment to the Company's existing and future secured indebtedness. On September 6, 2024, the Company issued a press release announcing the completion of the Transaction, which is filed as Exhibit 99.1 to this Cur

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description of Exhibits 4.1 Form of 8.75% Fixed Rate Senior Note due 2029 (included as Exhibit A to the Senior Note Purchase Agreement filed as Exhibit 10.1) 10.1 Senior Note Purchase Agreement by and between the Company and the several purchasers 99.1 Press Release dated September 6, 2024 104 Cover Page Interactive Date File (embedded within the Inline XBRL document) Certain of the exhibits and schedules to this Exhibit have been omitted in accordance with Regulation S-K Item 601(a)(5). The registrant agrees to furnish a copy of all omitted exhibits and schedules to the SEC upon its request.

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 thereunto duly authorized. GREEN DOT CORPORATION By: /s/ Amy Pugh Amy Pugh General Counsel and Secretary Date: September 6, 2024

View Full Filing

View this 8-K filing on SEC EDGAR