Gen Digital Inc. Enters Material Definitive Agreement

TL;DR

Gen Digital Inc. just signed a big deal, watch their financials.

AI Summary

On June 5, 2024, Gen Digital Inc. entered into a material definitive agreement related to a financial obligation. The company, formerly known as NortonLifeLock Inc. and Symantec Corp, is incorporated in Delaware and headquartered in Tempe, Arizona.

Why It Matters

This filing indicates a significant financial commitment or obligation for Gen Digital Inc., which could impact its financial structure and future operations.

Risk Assessment

Risk Level: medium — Entering into material definitive agreements can introduce new financial obligations or strategic shifts that carry inherent risks.

Key Players & Entities

• Gen Digital Inc. (company) — Registrant
• NortonLifeLock Inc. (company) — Former Company Name
• SYMANTEC CORP (company) — Former Company Name
• June 5, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.01 — h registered Common Stock, par value $0.01 per share GEN The Nasdaq Stock Mark
• $3,690 million — nt, the Company refinanced its existing $3,690 million term B facility maturing September 12,
• $2,443,875,000 — tember 12, 2029 (of which approximately $2,443,875,000 was outstanding immediately prior to th
• $209,388,958.66 m — an aggregate principal amount equal to $209,388,958.66 made by the Additional Tranche B-1 Term L

Filing Documents

• tm2416677d1_8k.htm (8-K) — 33KB
• 0001104659-24-069350.txt ( ) — 203KB
• nlok-20240605.xsd (EX-101.SCH) — 3KB
• nlok-20240605_lab.xml (EX-101.LAB) — 33KB
• nlok-20240605_pre.xml (EX-101.PRE) — 22KB
• tm2416677d1_8k_htm.xml (XML) — 4KB

01. Entry

Item 1.01. Entry into a Material Definitive Agreement. On June 5, 2024 (the "Closing Date"), Gen Digital Inc. (the "Company" or "Gen") entered into the First Amendment to Amended and Restated Credit Agreement (the "Amendment") with the guarantors party thereto, Bank of America, N.A., as administrative agent, each consenting term lender and Wells Fargo Bank, National Association, as additional tranche B-1 term lender ("Additional Tranche B-1 Term Lender"), pursuant to which the Company amended its Amended and Restated Credit Agreement, dated as of September 12, 2022 (the "Existing Credit Agreement"). Pursuant to the Amendment, the Company refinanced its existing $3,690 million term B facility maturing September 12, 2029 (of which approximately $2,443,875,000 was outstanding immediately prior to the Closing Date) with a repriced $2,443,875,000 term B-1 facility (the "Term B-1 Facility" and such repriced term loans, the "Tranche B-1 Term Loans"). The Term B-1 Facility includes additional tranche B-1 term loans ("Additional Tranche B-1 Term Loans") in an aggregate principal amount equal to $209,388,958.66 made by the Additional Tranche B-1 Term Lender that were used to repay in full the term loans under the initial term B facility made by any non-consenting term lender. The Additional Tranche B-1 Term Loans have the same terms and provisions as the Tranche B-1 Term Loans of the consenting term lenders. The Tranche B-1 Term Loans will bear interest, at the Company's option, at either a rate equal to (x) the bank's base rate plus a 0.75% margin or (y) SOFR, plus a 1.75% margin. Under the terms of the Amendment, the Company may select an interest period of one, three or six months for the Tranche B-1 Term Loans if the SOFR rate is chosen. Prior to the six month anniversary of the Closing Date, any voluntary prepayment by the Company of loans under the Term B-1 Facility made in connection with a further Repricing Transaction (as defined in the Credit Agreement) is sub

03. Creation

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The description of the Amendment set forth in Item 1.01 above is incorporated into this Item 2.03 by reference. 2 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized on this 7th day of June, 2024. Gen Digital Inc. By: /s/ Bryan Ko Bryan Ko Chief Legal Officer and Corporate Secretary 3

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View this 8-K filing on SEC EDGAR