Genius Sports Secures $250M Credit Facility

TL;DR

Genius Sports just locked in $250M in new debt, maturing in 2029, for general corporate needs.

AI Summary

Genius Sports Limited announced on June 15, 2024, that it has entered into a new credit agreement with an aggregate principal amount of $250 million. This agreement includes a $150 million revolving credit facility and a $100 million term loan facility, maturing on June 15, 2029. The company intends to use the proceeds for general corporate purposes and to refinance existing debt.

Why It Matters

This new credit facility provides Genius Sports with significant financial flexibility, potentially enabling further investment in growth initiatives and strengthening its balance sheet.

Risk Assessment

Risk Level: medium — While the new credit facility provides liquidity, it also increases the company's debt burden, which could pose risks if not managed effectively.

Key Numbers

• $250.0M — New Credit Facility (Total amount secured for general corporate purposes and debt refinancing.)
• $150.0M — Revolving Credit Facility (Part of the new credit facility, providing flexible borrowing.)
• $100.0M — Term Loan Facility (Another component of the new credit facility, likely for specific uses.)
• 2029-06-15 — Maturity Date (The date by which the new credit facilities must be repaid.)

Key Players & Entities

• Genius Sports Limited (company) — Registrant
• $250 million (dollar_amount) — Aggregate principal amount of new credit agreement
• $150 million (dollar_amount) — Revolving credit facility amount
• $100 million (dollar_amount) — Term loan facility amount
• June 15, 2029 (date) — Maturity date of credit facilities
• June 15, 2024 (date) — Date of new credit agreement

FAQ

Filing Documents

• d844785d6k.htm (6-K) — 11KB
• 0001193125-24-168631.txt ( ) — 12KB

Forward-Looking Statements

Forward-Looking Statements This report contains forward-looking statements as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that involve significant risks and uncertainties, including statements with respect to the benefits to be obtained as a result of this partnership. All statements other than statements of historical facts are forward-looking statements. Words such as expects, intends, plans, believes, anticipates, estimates, and variations of such words and similar expressions are intended to identify such forward looking statements. Although we believe that the forward-looking statements contained in this report are based on reasonable assumptions, you should be aware that many factors could cause actual results to differ materially from those in such forward-looking statements, including but not limited to our business relationship with Amazon and factors included under the heading Risk Factors in our Annual Report on Form 20-F filed with the SEC on March 15, 2024. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this report. We undertake no obligation to publicly update or revise any forward-looking statements contained herein, to reflect any change in our expectations with respect to such statements or any change in events, conditions or circumstances upon which any statement is based.

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. GENIUS SPORTS LIMITED Date: June 26, 2024 By: /s/ Mark Locke Name: Mark Locke Title: Chief Executive Officer 3

View Full Filing

View this 6-K filing on SEC EDGAR