Lamar Advertising Enters Material Definitive Agreement
Ticker: LAMR · Form: 8-K · Filed: Oct 21, 2024 · CIK: 1090425
Sentiment: neutral
Topics: material-agreement, financial-obligation, debt
TL;DR
Lamar Advertising just signed a big deal, creating a new financial obligation.
AI Summary
On October 15, 2024, Lamar Advertising Co/New entered into a material definitive agreement related to a direct financial obligation. The filing details the creation of this obligation, which is a significant financial commitment for the company. Specific details regarding the nature and terms of this agreement are provided within the filing.
Why It Matters
This filing indicates a new significant financial commitment or obligation for Lamar Advertising, which could impact its financial structure and future operations.
Risk Assessment
Risk Level: medium — Entering into material definitive agreements and creating financial obligations can introduce financial risks and alter a company's balance sheet.
Key Players & Entities
- LAMAR ADVERTISING CO/NEW (company) — Filer
- LAMAR MEDIA CORP/DE (company) — Related Filer
- 20241015 (date) — Date of Report
- 20241021 (date) — Filing Date
FAQ
What type of material definitive agreement did Lamar Advertising Co/New enter into?
The filing indicates the entry into a material definitive agreement that creates a direct financial obligation or an obligation under an off-balance sheet arrangement for the registrant.
When was this material definitive agreement entered into?
The agreement was entered into on October 15, 2024.
What is the primary purpose of this 8-K filing?
The primary purpose is to report the entry into a material definitive agreement and the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement.
What are the SIC codes associated with Lamar Advertising Co/New and Lamar Media Corp/DE?
Both Lamar Advertising Co/New and Lamar Media Corp/DE have the Standard Industrial Classification code 6798 for Real Estate Investment Trusts.
What is the state of incorporation for Lamar Advertising Co/New and Lamar Media Corp/DE?
Both Lamar Advertising Co/New and Lamar Media Corp/DE are incorporated in Delaware (DE).
Filing Stats: 934 words · 4 min read · ~3 pages · Grade level 13.2 · Accepted 2024-10-21 16:06:03
Key Financial Figures
- $0.001 — which registered Class A common stock, $0.001 par value LAMR The NASDAQ Stock Mar
- $600.0 million — cheduled maturity date of Lamar Media's $600.0 million Term Loan B facility (the " Term Loan B
- $750.0 million — cheduled maturity date of Lamar Media's $750.0 million revolving credit facility (the " Revolv
Filing Documents
- d895876d8k.htm (8-K) — 36KB
- d895876dex101.htm (EX-10.1) — 745KB
- 0001193125-24-240401.txt ( ) — 1097KB
- lamr-20241015.xsd (EX-101.SCH) — 5KB
- lamr-20241015_cal.xml (EX-101.CAL) — 1KB
- lamr-20241015_def.xml (EX-101.DEF) — 12KB
- lamr-20241015_lab.xml (EX-101.LAB) — 16KB
- lamr-20241015_pre.xml (EX-101.PRE) — 12KB
- d895876d8k_htm.xml (XML) — 5KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 Seventh Amendment to the Receivables Financing Agreement, dated as of October 15, 2024, among Lamar Media, as Initial Servicer, the SPEs, as Borrowers, and PNC Bank, National Association, as Administrative Agent and a Lender. 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 registrants have duly caused this report to be signed on their behalf by the undersigned hereunto duly authorized. Date: October 21, 2024 LAMAR ADVERTISING COMPANY By: /s/ Jay L. Johnson Jay L. Johnson Executive Vice President, Chief Financial Officer, and Treasurer Date: October 21, 2024 LAMAR MEDIA CORP. By: /s/ Jay L. Johnson Jay L. Johnson Executive Vice President, Chief Financial Officer, and Treasurer