Lyft Files 8-K on Material Agreement and Other Events

TL;DR

**Lyft just filed an 8-K for a new material agreement, so keep an eye out for details!**

AI Summary

Lyft, Inc. filed an 8-K on February 21, 2024, reporting an entry into a material definitive agreement and other events. The filing indicates the company's business address is 185 Berry Street, Suite 400, San Francisco, California 94107, and its phone number is (844) 250-2773. This 8-K serves as a current report under Section 13 or 15(d) of the Securities Exchange Act of 1934.

Why It Matters

This filing signals that Lyft has entered into a significant agreement or experienced other notable events that could impact its operations or financial standing, warranting disclosure to investors.

Risk Assessment

Risk Level: medium — The filing mentions a 'material definitive agreement' without details, which could be positive or negative, creating uncertainty.

Key Players & Entities

• Lyft, Inc. (company) — Registrant
• February 21, 2024 (date) — Date of earliest event reported and filing date
• 185 Berry Street, Suite 400, San Francisco, California 94107 (address) — Principal executive offices
• (844) 250-2773 (phone_number) — Registrant's telephone number
• Delaware (state) — State of incorporation

FAQ

Key Financial Figures

• $0.00001 — red Class A Common Stock, par value of $0.00001 per share LYFT Nasdaq Global Select Mar
• $100.0 m — trailing four quarters is greater than $100.0 million, $300.0 million and (y) otherwise
• $300.0 million — uarters is greater than $100.0 million, $300.0 million and (y) otherwise, $200.0 million and (
• $200.0 million — lion, $300.0 million and (y) otherwise, $200.0 million and (ii) the amount of unrestricted cas
• $400 million — subject to market and other conditions, $400 million aggregate principal amount of convertib

Filing Documents

• lyft-20240221.htm (8-K) — 30KB
• ex101-amendmentno2.htm (EX-10.1) — 56KB
• ex991-pressrelease.htm (EX-99.1) — 11KB
• 0001759509-24-000033.txt ( ) — 239KB
• lyft-20240221.xsd (EX-101.SCH) — 2KB
• lyft-20240221_lab.xml (EX-101.LAB) — 25KB
• lyft-20240221_pre.xml (EX-101.PRE) — 13KB
• lyft-20240221_htm.xml (XML) — 3KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On February 21, 2024 (the "Effective Date"), Lyft, Inc. (the "Company") entered into Amendment No. 2 to Revolving Credit Agreement (the "Amendment"), with the other loan parties party thereto, JPMorgan Chase Bank, N.A., as administrative agent (the "Agent"), and certain lenders party thereto, which amends that certain Revolving Credit Agreement, dated as of November 3, 2022, by and among the Company, the Agent and certain lenders party thereto from time to time (as amended by Amendment No. 1 to the Revolving Credit Agreement, dated as of December 12, 2023, the "Existing Agreement," and the Existing Agreement as amended by the Amendment, the "Amended Agreement"). The Amendment amends the Existing Agreement to, among other things: (a) solely for the purposes of the financial covenant test, replace total leverage with total net leverage, which allows the Company to subtract the lesser of (i)(x) to the extent Free Cash Flow (as defined in the Company's most recent Quarterly Reports on Form 10-Q and/or Annual Reports on Form 10-K) for the most recently ended trailing four quarters is greater than $100.0 million, $300.0 million and (y) otherwise, $200.0 million and (ii) the amount of unrestricted cash and cash equivalents (as defined in the Amended Agreement) on its consolidated balance sheet as of the calculation date and (b) permit the Company to repurchase up to a specified amount of the Company's common stock with the proceeds of a convertible note offering. The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment, which is attached as Exhibit 10.1 hereto and incorporated herein by reference.

01 Other Events

Item 8.01 Other Events. On February 21, 2024, the Company issued a press release announcing its intention to offer, subject to market and other conditions, $400 million aggregate principal amount of convertible senior notes due 2029 in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Forward-Looking Statements

Forward-Looking Statements This Current Report on Form 8-K contains forward-looking statements within the meaning of the federal securities laws, including Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events or the Company's future financial or operating performance. In some cases, you can identify forward looking statements because they contain words such as "may," "will," "should," "expect," "plan," "anticipate," "could," "intend," "target," "project," "contemplate," "believe," "estimate," "predict," "potential" or "continue" or the negative of these words or other similar terms or expressions that concern the Company's expectations, strategy, plans or intentions. The forward-looking statements contained in this Current Report on Form 8-K are also subject to other risks and uncertainties, including those more fully described in the Company's filings with the Securities and Exchange Commission ("SEC"), including the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2023 that was filed with the SEC on February 20, 2024. The forward-looking statements in this Current Report on Form 8-K are based on information available to the Company as of the date hereof, and the Company disclaims any obligation to update any forward-looking statements, except as required by law.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits (d) Exhibits: Exhibit No. Exhibit Description 10.1 Amendment No. 2 to Revolving Credit Agreement, dated as of February 21 , 2024, by and among the Company, as borrower, JPMorgan Chase Bank, N.A., as administrative agent, and certain other lenders party thereto 99.1 Press release, dated February 21, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE 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. LYFT, INC. Date: February 21, 2024 /s/ Erin Brewer Erin Brewer Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR