Snap Inc. Files 8-K: Material Agreement, Financial Obligations, Equity Sales

Ticker: SNAP · Form: 8-K · Filed: 2024-05-13T00:00:00.000Z

Sentiment: neutral

Topics: material-agreement, financial-obligation, equity-sale

Related Tickers: SNAP

TL;DR

Snap Inc. inked a new deal, took on debt, and sold stock. Watch this space.

AI Summary

On May 8, 2024, Snap Inc. entered into a Material Definitive Agreement related to its financing. The company also reported on the creation of a direct financial obligation and unregistered sales of equity securities. This filing indicates potential financial activities and equity issuances by Snap Inc.

Why It Matters

This 8-K filing signals significant financial maneuvers by Snap Inc., including new agreements and the issuance of equity, which could impact its financial structure and shareholder value.

Risk Assessment

Risk Level: medium — The filing details material definitive agreements, financial obligations, and unregistered equity sales, which can introduce financial risks and uncertainties.

Key Players & Entities

FAQ

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

The filing indicates Snap Inc. entered into a Material Definitive Agreement, but the specific details of the agreement are not provided in this excerpt.

What are the details of the direct financial obligation created by Snap Inc.?

The filing states the creation of a Direct Financial Obligation, but specific financial amounts or terms are not detailed in this excerpt.

What was the nature of the unregistered sales of equity securities?

The filing reports unregistered sales of equity securities, but the quantity, price, or terms of these sales are not specified in this excerpt.

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

The earliest event reported in this 8-K filing occurred on May 8, 2024.

What is Snap Inc.'s state of incorporation and fiscal year end?

Snap Inc. is incorporated in Delaware and its fiscal year ends on December 31.

From the Filing

0001193125-24-137315.txt : 20240513 0001193125-24-137315.hdr.sgml : 20240513 20240513165906 ACCESSION NUMBER: 0001193125-24-137315 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 21 CONFORMED PERIOD OF REPORT: 20240508 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant ITEM INFORMATION: Unregistered Sales of Equity Securities ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240513 DATE AS OF CHANGE: 20240513 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Snap Inc CENTRAL INDEX KEY: 0001564408 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC. [7370] ORGANIZATION NAME: 06 Technology IRS NUMBER: 455452795 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-38017 FILM NUMBER: 24940014 BUSINESS ADDRESS: STREET 1: 3000 31ST STREET CITY: SANTA MONICA STATE: CA ZIP: 90405 BUSINESS PHONE: (310) 399-3339 MAIL ADDRESS: STREET 1: 3000 31ST STREET CITY: SANTA MONICA STATE: CA ZIP: 90405 FORMER COMPANY: FORMER CONFORMED NAME: Snapchat Inc DATE OF NAME CHANGE: 20121211 8-K 1 d821313d8k.htm 8-K 8-K Snap Inc false 0001564408 0001564408 2024-05-08 2024-05-08     UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549     FORM 8-K     CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): May 13, 2024 ( May 8, 2024 )     SNAP INC. (Exact Name of Registrant as Specified in Its Charter)       Delaware   001-38017   45-5452795 (State or Other Jurisdiction of Incorporation)   (Commission File Number)   (IRS Employer Identification No.)   3000 31st Street Santa Monica , California     90405 (Address of Principal Executive Offices)     (Zip Code) (310) 399-3339 (Registrant’s Telephone Number, Including Area Code) Not Applicable (Former Name or Former Address, if Changed Since Last Report)     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:   ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)   ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)   ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))   ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:   Title of each class   Trading Symbol(s)   Name of each exchange on which registered Class A Common Stock, par value $0.00001 per share   SNAP   New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company  ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐       Explanatory Note Purchase Agreement On May 8, 2024, we entered into a purchase agreement (the “Purchase Agreement”) with Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and BofA Securities, Inc., as representatives of the several purchasers named therein (collectively, the “Initial Purchasers

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