SBA Communications Corp Enters Material Definitive Agreement

TL;DR

SBA Comm Corp just signed a big deal, creating a new financial obligation.

AI Summary

SBA Communications Corporation entered into a material definitive agreement on October 2, 2024, related to a direct financial obligation. The filing details the creation of this obligation under an off-balance sheet arrangement. Specific details regarding the nature of the agreement and the financial obligation are provided within the filing.

Why It Matters

This filing indicates a significant financial commitment or obligation for SBA Communications Corp, which could impact its financial structure and future operations.

Risk Assessment

Risk Level: medium — The creation of a new material definitive agreement and financial obligation introduces potential risks related to the terms, execution, and impact on the company's financial health.

Key Players & Entities

• SBA Communications Corporation (company) — Registrant
• October 2, 2024 (date) — Date of earliest event reported
• Florida (location) — State of Incorporation
• 8051 Congress Avenue Boca Raton, FL 33487 (address) — Principal Executive Offices
• (561) 995-7670 (phone_number) — Registrant's telephone number

FAQ

From the Filing

0001193125-24-231344.txt : 20241003 0001193125-24-231344.hdr.sgml : 20241003 20241002190359 ACCESSION NUMBER: 0001193125-24-231344 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 14 CONFORMED PERIOD OF REPORT: 20241002 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: Financial Statements and Exhibits FILED AS OF DATE: 20241003 DATE AS OF CHANGE: 20241002 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SBA COMMUNICATIONS CORP CENTRAL INDEX KEY: 0001034054 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] ORGANIZATION NAME: 05 Real Estate & Construction IRS NUMBER: 650716501 STATE OF INCORPORATION: FL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-16853 FILM NUMBER: 241349397 BUSINESS ADDRESS: STREET 1: 8051 CONGRESS AVENUE CITY: BOCA RATON STATE: FL ZIP: 33487 BUSINESS PHONE: 5612269345 MAIL ADDRESS: STREET 1: 8051 CONGRESS AVENUE CITY: BOCA RATON STATE: FL ZIP: 33487 8-K 1 d136981d8k.htm 8-K 8-K SBA COMMUNICATIONS CORP false 0001034054 0001034054 2024-10-02 2024-10-02     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) October 2, 2024     SBA Communications Corporation (Exact Name of Registrant as Specified in its Charter)       Florida   001-16853   65-0716501 (State or Other Jurisdiction of Incorporation)   (Commission File Number)   (IRS Employer Identification No.)   8051 Congress Avenue Boca Raton , FL   33487 (Address of Principal Executive Offices)   (Zip Code) Registrant’s telephone number, including area code: (561)   995-7670   (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, $0.01 par value per share   SBAC   The NASDAQ Stock Market LLC (NASDAQ Global Select Market) 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. ☐       Item 1.01 Entry into a Material Definitive Agreement. First Amendment to Third Amended and Restated Credit Agreement On October 2, 2024, SBA Senior Finance II LLC (the “ Borrower ”), a wholly-owned subsidiary of SBA Communications Corporation (“ SBAC ”), entered into the First Amendment, among the Borrower, the lenders and other persons party thereto, TD Securities (USA) LLC as the lead arranger, TD Securities (US