SiriusXM Enters Material Definitive Agreement on Jan 26

TL;DR

**SiriusXM just signed a big new deal, watch for details!**

AI Summary

SIRIUS XM HOLDINGS INC. filed an 8-K on January 29, 2024, reporting an "Entry into a Material Definitive Agreement" that occurred on January 26, 2024. This filing indicates a significant new contract or deal for SiriusXM, which could impact its future revenue streams or operational costs. Investors should pay close attention to the details of this agreement, as it could signal growth opportunities or new strategic directions for the company, potentially affecting the stock's valuation.

Why It Matters

This filing signals a new, important business agreement for SiriusXM, which could significantly influence its financial performance and strategic direction. Investors need to understand the nature of this agreement to assess its potential impact on future earnings and stock price.

Risk Assessment

Risk Level: medium — The filing indicates a material agreement but lacks specific details, creating uncertainty about its financial implications and potential risks or benefits.

Analyst Insight

A smart investor would await further disclosures or a subsequent 8-K filing that provides specific details about the "Material Definitive Agreement" before making any investment decisions, as the current filing lacks sufficient information to assess its impact.

Key Players & Entities

• SIRIUS XM HOLDINGS INC. (company) — the registrant filing the 8-K
• January 29, 2024 (date) — the filing date of the 8-K
• January 26, 2024 (date) — the date of the earliest event reported in the 8-K
• 001-34295 (other) — Commission File Number
• SIRI (other) — Trading Symbol for Common Stock

FAQ

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 per share SIRI The Nasdaq Stock Market
• $1.75 billion — the Credit Agreement consisted of a (i) $1.75 billion senior secured revolving credit facilit
• $500 million — d reborrow from time to time and (ii) a $500 million incremental term loan, borrowings from
• $1.1 billion — Agreement, including the addition of a $1.1 billion delayed draw incremental term loan (the

Filing Documents

• c107877_8k-ixbrl.htm (8-K) — 26KB
• c107877_ex10-1.htm (EX-10.1) — 1048KB
• 0000930413-24-000434.txt ( ) — 1445KB
• siri-20240126.xsd (EX-101.SCH) — 3KB
• siri-20240126_def.xml (EX-101.DEF) — 11KB
• siri-20240126_lab.xml (EX-101.LAB) — 20KB
• siri-20240126_pre.xml (EX-101.PRE) — 11KB
• c107877_8k-ixbrl_htm.xml (XML) — 3KB

01 Entry into a Material

Item 1.01 Entry into a Material Definitive Agreement. On January 26, 2024, Sirius XM Radio Inc. ("Sirius XM"), our subsidiary, entered into an amendment ("Amendment No. 9") to its existing credit agreement with JPMorgan Chase Bank, N.A., as the administrative agent, and other agents and lenders (the "Credit Agreement"). Prior to Amendment No. 9, the Credit Agreement consisted of a (i) $1.75 billion senior secured revolving credit facility, from which Sirius XM could borrow and reborrow from time to time and (ii) a $500 million incremental term loan, borrowings from each of which Sirius XM could use for working capital and other general corporate purchases, including share repurchases, dividends and the financing of acquisitions. Amendment No. 9 provides for certain changes to the Credit Agreement, including the addition of a $1.1 billion delayed draw incremental term loan (the "Incremental Term Loan") arranged by BofA Securities, Inc., Morgan Stanley Senior Funding, Inc. and JPMorgan Chase Bank, N.A. Subject to the conditions described in Amendment No. 9, the Incremental Term Loan shall be available to be drawn by Sirius XM in up to three separate drawings until December 31, 2024. The obligations under the Credit Agreement remain guaranteed by Sirius XM's material domestic subsidiaries, and are secured by a lien on substantially all of Sirius XM's assets and the assets of its material domestic subsidiaries, subject to certain exceptions. The Credit Agreement contains incremental facilities and related debt and lien baskets, which allow Sirius XM to increase or incur new commitments under the revolving facility and/or incur further new term loans or other forms of indebtedness, subject to the terms of the Credit Agreement. Certain of the participants in the Credit Agreement and their respective affiliates have engaged in, and may in the future engage in, investment banking, advisory roles and other commercial dealings in the ordinary course of business with us a

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits 10.1 Amendment No. 9, dated as of January 26, 2024, to the Credit Agreement, dated as of December 5, 2012, among Sirius XM Radio Inc., JPMorgan Chase Bank, N.A., as administrative agent, and the other agents and lenders parties thereto. 104 The cover page from this Current Report on Form 8-K, formatted in Inline XBRL. 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 thereunto duly authorized. SIRIUS XM HOLDINGS INC. By: /s/ Patrick L. Donnelly Patrick L. Donnelly Executive Vice President, General Counsel and Secretary Dated: January 29, 2024 3