Waste Management Terminates Material Definitive Agreement
Ticker: WM · Form: 8-K · Filed: Nov 7, 2024 · CIK: 823768
| Field | Detail |
|---|---|
| Company | Waste Management Inc (WM) |
| Form Type | 8-K |
| Filed Date | Nov 7, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01, $5.2 billion |
| Sentiment | neutral |
Sentiment: neutral
Topics: agreement-termination, material-agreement
Related Tickers: WM
TL;DR
WM just terminated a big deal, details TBD.
AI Summary
Waste Management, Inc. filed an 8-K on November 7, 2024, to report the termination of a material definitive agreement. The agreement was terminated on November 5, 2024. No specific details about the agreement or the counterparty were provided in this filing.
Why It Matters
The termination of a material definitive agreement can signal a significant shift in business relationships or strategic direction for Waste Management, Inc.
Risk Assessment
Risk Level: medium — The termination of a material definitive agreement suggests a significant event that could impact the company's operations or financial standing, but the lack of detail makes the precise risk unclear.
Key Players & Entities
- Waste Management, Inc. (company) — Registrant
- November 5, 2024 (date) — Date of termination of agreement
- November 7, 2024 (date) — Date of filing
FAQ
What was the material definitive agreement that was terminated?
The filing does not specify the nature or parties involved in the material definitive agreement that was terminated.
When was the agreement terminated?
The agreement was terminated on November 5, 2024.
Who was the counterparty to the terminated agreement?
The filing does not disclose the identity of the other party to the agreement.
What is the reason for the termination of the agreement?
The filing does not provide the reason for the termination of the material definitive agreement.
What is the potential financial impact of this termination on Waste Management, Inc.?
The filing does not provide any information regarding the financial impact of the termination.
Filing Stats: 495 words · 2 min read · ~2 pages · Grade level 11.4 · Accepted 2024-11-07 16:51:55
Key Financial Figures
- $0.01 — nge on which registered Common Stock, $0.01 par value WM New York Stock Exchange
- $5.2 billion — Credit Agreement. The Company received $5.2 billion principal amount of borrowings under th
Filing Documents
- tm2427744d1_8k.htm (8-K) — 25KB
- 0001104659-24-115364.txt ( ) — 193KB
- wm-20241105.xsd (EX-101.SCH) — 3KB
- wm-20241105_lab.xml (EX-101.LAB) — 33KB
- wm-20241105_pre.xml (EX-101.PRE) — 22KB
- tm2427744d1_8k_htm.xml (XML) — 4KB
02. Termination of Material Definitive Agreement
Item 1.02. Termination of Material Definitive Agreement. On November 5, 2024, Waste Management, Inc. (the "Company") repaid in full all borrowings under its delayed draw Term Credit Agreement dated August 28, 2024 (as amended, the "Credit Agreement") and terminated the Credit Agreement. The Company received $5.2 billion principal amount of borrowings under the Credit Agreement on October 30, 2024. The borrowings were used to fund the majority of the consideration for the Company's acquisition of Stericycle, Inc. that closed on November 4, 2024. Net proceeds from the Company's issuance and sale of $5.2 billion of senior notes that also closed on November 4, 2024 were applied to repayment of the Credit Agreement borrowings. A summary of the material terms of the Credit Agreement are set forth in Item 1.01 of the Company's Current Report on Form 8-K filed September 3, 2024 and are incorporated herein by reference. 2
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. WASTE MANAGEMENT, INC. Date: November 7, 2024 By: /s/ Charles C. Boettcher Charles C. Boettcher Executive Vice President and Chief Legal Officer