StoneX Group Inc. Enters Material Definitive Agreement

Ticker: SNEX · Form: 8-K · Filed: Mar 1, 2024 · CIK: 913760

Stonex Group Inc. 8-K Filing Summary
FieldDetail
CompanyStonex Group Inc. (SNEX)
Form Type8-K
Filed DateMar 1, 2024
Risk Levelmedium
Pages5
Reading Time6 min
Key Dollar Amounts$0.01, $550 million
Sentimentneutral

Sentiment: neutral

Topics: material-definitive-agreement, financial-obligation

TL;DR

StoneX just signed a big deal, watch their financials.

AI Summary

On March 1, 2024, StoneX Group Inc. entered into a material definitive agreement related to a direct financial obligation. The company, previously known as INTL FCSTONE INC., is headquartered in New York, NY, and operates in the securities and commodity brokerage sector.

Why It Matters

This filing indicates a significant financial commitment or obligation for StoneX Group Inc., which could impact its financial standing and future operations.

Risk Assessment

Risk Level: medium — Entering into material definitive agreements and direct financial obligations can introduce financial risks and obligations that require careful monitoring.

Key Players & Entities

  • StoneX Group Inc. (company) — Registrant
  • March 1, 2024 (date) — Date of earliest event reported
  • INTL FCSTONE INC. (company) — Former company name
  • 230 Park Ave, 10th Floor New York, NY 10169 (location) — Principal business address

FAQ

What type of material definitive agreement did StoneX Group Inc. enter into?

The filing indicates the entry into a material definitive agreement that creates a direct financial obligation or an obligation under an off-balance sheet arrangement for the registrant, but the specific details of the agreement are not provided in this excerpt.

When was the earliest event reported in this 8-K filing?

The earliest event reported in this 8-K filing was on March 1, 2024.

What is StoneX Group Inc.'s former company name?

StoneX Group Inc.'s former company name was INTL FCSTONE INC.

What is the principal business address of StoneX Group Inc.?

The principal business address of StoneX Group Inc. is 230 Park Ave, 10th Floor, New York, NY 10169.

What is the Standard Industrial Classification (SIC) code for StoneX Group Inc.?

The Standard Industrial Classification (SIC) code for StoneX Group Inc. is 6200, which corresponds to SECURITY & COMMODITY BROKERS, DEALERS, EXCHANGES & SERVICES.

Filing Stats: 1,437 words · 6 min read · ~5 pages · Grade level 12.3 · Accepted 2024-03-01 16:18:45

Key Financial Figures

  • $0.01 — ange on which registered Common Stock, $0.01 par value SNEX The Nasdaq Stock Market
  • $550 million — ny") completed the issuance and sale of $550 million in aggregate principal amount of its 7.

Filing Documents

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. On March 1, 2024, StoneX Group Inc. (the "Company") completed the issuance and sale of $550 million in aggregate principal amount of its 7.875% Senior Secured Notes due 2031 (the "Notes"). The Notes were issued pursuant to an Indenture, dated March 1, 2024 (the "Indenture"), by and among the Company, the guarantors party thereto from time to time and The Bank of New York Mellon, as trustee (in such capacity, the "Trustee") and collateral agent (in such capacity, the "Collateral Agent"). The Notes are fully and unconditionally guaranteed, jointly and severally, on a senior secured second lien basis by each of the Company's existing and future subsidiaries that guarantees indebtedness under the Company's senior secured revolving credit facility and certain other senior indebtedness. The guarantees are subject to release under specified circumstances. The Notes and the related guarantees are secured on a second priority basis by liens on substantially all of the Company's and the guarantors' property and assets, subject to certain exceptions and permitted liens. The liens on the Company's and the guarantors' assets that secure the Notes and the related guarantees are contractually subordinated to the liens on the Company's and the guarantors' assets that secure the Company's and the guarantors' existing and future first lien obligations, including indebtedness under the Company's senior secured revolving credit facility, pursuant to an intercreditor agreement, dated March 1, 2024, by the collateral agent for the Notes and the agent for the Company's senior secured revolving credit facility. The Notes will mature on March 1, 2031. Interest on the Notes accrues at a rate of 7.875% per annum and is payable semiannually in arrears on March 1 and September 1 of each year, commencing on September 1, 2024. The Company is obligated to make each interest payment to the holders of record of the Notes on the immediately pr

01. Regulation FD Disclosure

Item 7.01. Regulation FD Disclosure. On March 1, 2024, the Company issued a press release announcing the closing of the issuance and sale of the Notes. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. The information furnished pursuant to Item 7.01, including Exhibit 99.1 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any filing under the Securities Act or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits (d) Exhibits Exhibit No. Description 4.1 Indenture by and among the Company, the guarantors party thereto from time to time and The Bank of New York Mellon, as trustee and collateral agent, dated March 1, 2024. 4.2 Form of 7.875% Senior Secured Notes due 2031 (included in Exhibit 4.1) 99.1 Press release dated March 1 , 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. StoneX Group Inc. (Registrant) March 1, 2024 /s/ WILLIAM J. DUNAWAY (Date) William J. Dunaway Chief Financial Officer

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