Alight, Inc. Files 8-K for Material Definitive Agreement
Ticker: ALIT · Form: 8-K · Filed: Jun 6, 2024 · CIK: 1809104
Sentiment: neutral
Topics: material-definitive-agreement, financial-obligation
TL;DR
Alight just signed a big deal, check the 8-K for details.
AI Summary
On June 5, 2024, Alight, Inc. entered into a material definitive agreement related to a financial obligation. The company, incorporated in Delaware, filed an 8-K report detailing this event. The filing also includes financial statements and exhibits.
Why It Matters
This filing indicates a significant new financial commitment or obligation for Alight, Inc., which could impact its financial structure and future operations.
Risk Assessment
Risk Level: medium — Entering into material definitive agreements and new financial obligations can introduce financial risks and operational changes for a company.
Key Players & Entities
- Alight, Inc. (company) — Registrant
- Delaware (company) — State of Incorporation
- June 05, 2024 (date) — Date of earliest event reported
- 001-39299 (company) — Commission File Number
- 86-1849232 (company) — IRS Employer Identification No.
- 4 Overlook Point (location) — Business Address
- Lincolnshire (location) — Business Address City
- Illinois (location) — Business Address State
- 60069 (location) — Business Address Zip
FAQ
What specific material definitive agreement did Alight, Inc. enter into?
The filing states that Alight, Inc. entered into a "Material Definitive Agreement" and also created a "Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant", but the specific details of the agreement are not provided in the provided text.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing was on June 05, 2024.
What is Alight, Inc.'s Commission File Number?
Alight, Inc.'s Commission File Number is 001-39299.
In which state is Alight, Inc. incorporated?
Alight, Inc. is incorporated in Delaware.
What are the key items reported in this 8-K filing?
The key items reported in this 8-K filing are: Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant, and Financial Statements and Exhibits.
Filing Stats: 956 words · 4 min read · ~3 pages · Grade level 11.2 · Accepted 2024-06-06 06:25:43
Key Financial Figures
- $0.0001 — tered Class A Common Stock, par value $0.0001 per share ALIT New York Stock Excha
- $2,488,581,830.32 — s with an aggregate principal amount of $2,488,581,830.32 to effect a repricing of the outstandin
Filing Documents
- alit-20240605.htm (8-K) — 42KB
- alit-ex10_1.htm (EX-10.1) — 2359KB
- 0000950170-24-069656.txt ( ) — 2884KB
- alit-20240605.xsd (EX-101.SCH) — 23KB
- alit-20240605_htm.xml (XML) — 4KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. The information included pursuant to Item 2.03 is incorporated by reference into this Item 1.01. Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. On June 5, 2024, Tempo Acquisition, LLC (the "Borrower"), an indirect, wholly-owned subsidiary of Alight, Inc. (the "Company") entered into Amendment No. 10 and Waiver to Credit Agreement (the "Amendment") which amended its credit agreement with a syndicate of lenders (the "Credit Agreement" and the Credit Agreement as amended by the Amendment, the "Amended Credit Agreement") to establish a new class of Sixth Incremental Term Loans with an aggregate principal amount of $2,488,581,830.32 to effect a repricing of the outstanding Fifth Incremental Term Loans due August 31, 2028, by reducing the Applicable Rate (as defined in the Amended Credit Agreement) from SOFR +2.75% to SOFR +2.25%. The net proceeds from the Sixth Incremental Term Loans will be used to prepay and refinance all outstanding Fifth Incremental Loans in full. The Sixth Incremental Term Loans shall be on substantially similar terms as the Fifth Incremental Term Loans (including as to SOFR rate, maturity and quarterly repayment equal to 0.25% of principal). The Amendment will also amend certain other provisions of the Credit Agreement including, among other things, refreshing a prepayment premium which will be equal to 1% of the aggregate principal amount of Sixth Incremental Term Loans if (x) prepaid, refinanced, substituted or replaced pursuant to a transaction resulting in a lower effective all-in yield or (y) any amendment, amendment and restatement or other modification of the Amended Credit Agreement resulting in a lower effective all-in yield, in each case, on or prior to the six-month anniversary of the Amendment No. 10 Effective Date. BofA Securities, Inc., Barclays Bank PLC, BMO Capital Markets Corp., Citibank, N.A., C
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. 10.1 Amendment No. 10 and Waiver to the Credit Agreement, dated as of June 5, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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. Alight, Inc. Date: June 6, 2024 By: /s/ Martin Felli Martin Felli, Chief Legal Officer and Corporate Secretary