Light & Wonder Enters Material Definitive Agreement

TL;DR

**LNW just signed a big deal; details to follow, but it's a material event.**

AI Summary

Light & Wonder, Inc. filed an 8-K on January 16, 2024, to report an "Entry into a Material Definitive Agreement." This filing indicates that the company has entered into a significant contract or arrangement that could impact its operations or financial position. While the specific details of the agreement are not disclosed in this summary, investors should be aware that such an agreement could lead to new revenue streams, strategic partnerships, or changes in operational costs, potentially affecting the stock's future performance.

Why It Matters

This filing signals a potentially significant business development for Light & Wonder, Inc. that could influence its financial outlook and strategic direction, making it important for current and prospective shareholders.

Risk Assessment

Risk Level: medium — The risk is medium because while a material agreement has been entered, the specific terms and potential impact (positive or negative) are not yet disclosed, creating uncertainty.

Analyst Insight

A smart investor would monitor subsequent filings or press releases from Light & Wonder, Inc. for more details regarding the 'Material Definitive Agreement' to assess its potential impact on the company's financials and strategic direction before making any investment decisions.

Key Players & Entities

• Light & Wonder, Inc. (company) — the registrant filing the 8-K
• January 16, 2024 (date) — date of earliest event reported
• Nevada (company) — state of incorporation for Light & Wonder, Inc.
• 001-11693 (company) — Commission File Number for Light & Wonder, Inc.
• 6601 Bermuda Road, Las Vegas, NV 89119 (company) — principal executive office address for Light & Wonder, Inc.
• 702-897-7150 (company) — telephone number for Light & Wonder, Inc.
• Common Stock, par value $.001 per share (company) — class of securities registered by Light & Wonder, Inc.
• LNW (company) — trading symbol for Light & Wonder, Inc. Common Stock
• The Nasdaq Stock Market (company) — exchange where Light & Wonder, Inc. Common Stock is registered

FAQ

Key Financial Figures

• $2,167.0 million — er things, (i) creates a new tranche of $2,167.0 million term loans under the Credit Agreement d

Filing Documents

• tm243442d1_8k.htm (8-K) — 26KB
• tm243442d1_ex10-1.htm (EX-10.1) — 1231KB
• 0001104659-24-004177.txt ( ) — 1705KB
• lnw-20240116.xsd (EX-101.SCH) — 3KB
• lnw-20240116_lab.xml (EX-101.LAB) — 33KB
• lnw-20240116_pre.xml (EX-101.PRE) — 22KB
• tm243442d1_8k_htm.xml (XML) — 3KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. On January 16, 2024, Light and Wonder International, Inc. (" L&WI "), a Delaware corporation and wholly owned subsidiary of Light & Wonder, Inc., a Nevada corporation (the " Company "), entered into Amendment No. 1 (" Amendment No. 1 ") to the Credit Agreement dated April 14, 2022 (as amended, supplemented, amended and restated or otherwise modified from time to time, the " Credit Agreement "), by and among the Company, L&WI, the several banks and other financial institutions or entities from time to time party thereto and JPMorgan Chase Bank, N.A., as administrative agent, collateral agent, issuing lender and swingline lender (as amended, supplemented, amended and restated or otherwise modified from time to time, the " Credit Agreement "). Amendment No. 1, among other things, (i) creates a new tranche of $2,167.0 million term loans under the Credit Agreement due April 14, 2029 to replace the existing term loans and (ii) reduces the applicable margin for the term loans bearing interest at a term benchmark (SOFR, EURIBOR, CDOR and BBSY, each as defined in the Credit Agreement) rate to 2.75% per annum and to 1.75% per annum for loans bearing interest at ABR (as defined in the Credit Agreement). The foregoing description of Amendment No. 1 does not purport to be complete and is qualified in its entirety by the full text of Amendment No. 1, a copy of which is attached hereto as Exhibit 10.1, which is incorporated herein by reference.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 Amendment No. 1, dated as of January 16, 2024, among Light and Wonder International, Inc., as the borrower, Light & Wonder, Inc., as holdings, the several banks and other financial institutions or entities from time to time parties thereto and JPMorgan Chase Bank, N.A., as administrative agent, collateral agent, issuing lender and swingline lender, which amended the Credit Agreement, dated as of April 14, 2022. 104 Cover Page Interactive Data File - the cover page XBRL tags are 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. LIGHT & WONDER, INC. Date: January 16, 2024 By: /s/ James Sottile Name: James Sottile Title:Executive Vice President, Chief Legal Officer and Corporate Secretary

View Full Filing

View this 8-K filing on SEC EDGAR