Light & Wonder Enters Material Definitive Agreement
Ticker: LAWIL · Form: 8-K · Filed: Jul 17, 2024 · CIK: 750004
| Field | Detail |
|---|---|
| Company | Light & Wonder, Inc. (LAWIL) |
| Form Type | 8-K |
| Filed Date | Jul 17, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $2,161,582,500.00 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, sec-filing
TL;DR
Light & Wonder just signed a big deal, filing an 8-K with the SEC.
AI Summary
On July 17, 2024, Light & Wonder, Inc. filed an 8-K report detailing an entry into a material definitive agreement. The filing also includes financial statements and exhibits related to this agreement. Specific details of the agreement, including parties involved and financial terms, are not fully elaborated in the provided text but are indicated as material.
Why It Matters
This filing signifies a significant business development for Light & Wonder, Inc., potentially impacting its financial standing and strategic direction.
Risk Assessment
Risk Level: medium — The filing indicates a material definitive agreement, which could involve significant financial commitments or strategic shifts, but the specific nature and terms are not fully detailed in the provided excerpt.
Key Players & Entities
- Light & Wonder, Inc. (company) — Registrant
- July 17, 2024 (date) — Date of earliest event reported
- 83-0422894 (other) — IRS Employer Identification No.
- 001-11693 (other) — Commission File Number
- 6601 Bermuda Road, Las Vegas, NV 89119 (location) — Registrant's address
FAQ
What is the nature of the material definitive agreement entered into by Light & Wonder, Inc.?
The provided text states that Light & Wonder, Inc. entered into a material definitive agreement on July 17, 2024, as reported in their 8-K filing, but does not specify the details of the agreement.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing was on July 17, 2024.
What is Light & Wonder, Inc.'s IRS Employer Identification Number?
Light & Wonder, Inc.'s IRS Employer Identification Number is 83-0422894.
What is Light & Wonder, Inc.'s Commission File Number?
Light & Wonder, Inc.'s Commission File Number is 001-11693.
Where is Light & Wonder, Inc. located?
Light & Wonder, Inc. is located at 6601 Bermuda Road, Las Vegas, NV 89119.
Filing Stats: 690 words · 3 min read · ~2 pages · Grade level 9.9 · Accepted 2024-07-17 17:20:13
Key Financial Figures
- $2,161,582,500.00 — er things, (i) creates a new tranche of $2,161,582,500.00 term loans under the Credit Agreement d
Filing Documents
- tm2419637d1_8k.htm (8-K) — 25KB
- tm2419637d1_ex10-1.htm (EX-10.1) — 1276KB
- 0001104659-24-080590.txt ( ) — 1756KB
- lnw-20240717.xsd (EX-101.SCH) — 3KB
- lnw-20240717_lab.xml (EX-101.LAB) — 33KB
- lnw-20240717_pre.xml (EX-101.PRE) — 22KB
- tm2419637d1_8k_htm.xml (XML) — 3KB
01. Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement. On July 17, 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 that certain Amendment No. 2 (" Amendment No. 2 ") to the Credit Agreement dated April 14, 2022 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 by the Amendment No. 1, dated as of January 16, 2024, and as further amended, supplemented, amended and restated or otherwise modified from time to time, the " Credit Agreement "). Amendment No. 2, among other things, (i) creates a new tranche of $2,161,582,500.00 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 and BBSY, each as defined in the Credit Agreement) rate to 2.25% per annum and to 1.25% per annum for loans bearing interest at ABR (as defined in the Credit Agreement). The foregoing description of Amendment No. 2 does not purport to be complete and is qualified in its entirety by the full text of Amendment No. 2, 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. 2, dated as of July 17, 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 that certain 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: July 17, 2024 By: /s/ James Sottile Name: James Sottile Title: Executive Vice President, Chief Legal Officer and Corporate Secretary