MAGNITE 8-K: General Corporate Info, Non-Emerging Growth Status

TL;DR

**Magnite filed a routine 8-K, mostly administrative, confirming its non-emerging growth status.**

AI Summary

Magnite, Inc. filed an 8-K on January 22, 2024, primarily to disclose general corporate information and confirm its status as a non-emerging growth company. This filing, under Regulation FD Disclosure and Financial Statements and Exhibits, updates basic company details like its address at 1250 Broadway, 15th Floor, New York, New York 10001, and its trading symbol MGNI on the Nasdaq Global Select Market. For investors, this filing is largely administrative, indicating no major operational or financial changes, but it confirms Magnite's established position in the market as a mature company.

Why It Matters

This filing is largely administrative, confirming Magnite's current corporate details and its status as a non-emerging growth company, which implies a more established operational history and regulatory compliance burden.

Risk Assessment

Risk Level: low — This 8-K filing contains only administrative information and does not disclose any events that would introduce new risks or materially alter the company's financial or operational outlook.

Analyst Insight

This filing is administrative and does not present new information that would warrant immediate investment action. Investors should continue to monitor operational and financial performance reports.

Key Numbers

• 001-36384 — Commission File Number (Magnite's SEC file number)
• 2024-01-22 — Date of Report (the date the earliest event reported in the 8-K occurred)
• $0.00001 — par value per share (the par value of Magnite's common stock)
• 212-243-2769 — Business Phone (Magnite's business telephone number)
• 1250 Broadway, 15th Floor — Business Address (Magnite's principal executive offices street address)

Key Players & Entities

• MAGNITE, INC. (company) — the registrant filing the 8-K
• Nasdaq Global Select Market (company) — the exchange where Magnite's common stock is registered
• MGNI (company) — Magnite's trading symbol
• New York, New York (person) — city of Magnite's principal executive offices
• Delaware (person) — state of Magnite's incorporation

Forward-Looking Statements

• Magnite will continue to operate as a non-emerging growth company, facing standard regulatory requirements. (MAGNITE, INC.) — high confidence, target: 2025-01-22

FAQ

Key Financial Figures

• $0.00001 — ch registered Common stock, par value $0.00001 per share MGNI Nasdaq Global Select M
• $360 million — uncing that it intends to refinance its $360 million Term Loan B, which matures in April 202
• $65.0 million — B, which matures in April 2028, and its $65.0 million revolving credit facility, which mature
• $100.0 m — with an aggregate market value of up to $100.0 million, through August 4, 2025. During t
• $70.0 million — uarter of 2023, the Company repurchased $70.0 million of the Convertible Notes for an aggrega
• $60.7 million — otes for an aggregate purchase price of $60.7 million pursuant to the Repurchase Plan. As of
• $9.5 million — As of December 31, 2023, approximately $9.5 million remains available under the Repurchase
• $205.1 million — ble Notes outstanding was approximately $205.1 million. The information in this Form 8-K and

Filing Documents

• mgni-20240122.htm (8-K) — 29KB
• ex991magnite-pressreleaser.htm (EX-99.1) — 7KB
• image_0.jpg (GRAPHIC) — 7KB
• 0001595974-24-000004.txt ( ) — 176KB
• mgni-20240122.xsd (EX-101.SCH) — 2KB
• mgni-20240122_lab.xml (EX-101.LAB) — 24KB
• mgni-20240122_pre.xml (EX-101.PRE) — 13KB
• mgni-20240122_htm.xml (XML) — 3KB

01. Regulation FD Disclosure

Item 7.01. Regulation FD Disclosure. On January 22, 2024, Magnite, Inc. (the "Company") issued a press release announcing that it intends to refinance its $360 million Term Loan B, which matures in April 2028, and its $65.0 million revolving credit facility, which matures in December 2025, with a new senior secured credit facility. A copy of the press release is attached hereto as Exhibit 99.1. As previously disclosed, on August 4, 2023 the Company's board of directors approved a repurchase plan (the "Repurchase Plan"), pursuant to which the Company was authorized to repurchase common stock or 0.25% convertible senior notes due March 2026 (the "Convertible Notes"), with an aggregate market value of up to $100.0 million, through August 4, 2025. During the fourth quarter of 2023, the Company repurchased $70.0 million of the Convertible Notes for an aggregate purchase price of $60.7 million pursuant to the Repurchase Plan. As of December 31, 2023, approximately $9.5 million remains available under the Repurchase Plan. As of December 31, 2023, the principal amount of Convertible Notes outstanding was approximately $205.1 million. The information in this Form 8-K and the Exhibit attached hereto are being furnished pursuant to Item 7.01 of Form 8-K and therefore shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 99.1 Press Release of Magnite, Inc. Announcing Intent to Refinance Existing Credit Facilities Issued January 22, 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. MAGNITE, INC. Date: January 22, 2024 By: /s/ David Day David Day Chief Financial Officer