BuzzFeed Inc.
02/24/2026 | Press release | Distributed by Public on 02/24/2026 16:29
Material Agreement, Financial Obligation (Form 8-K)
Item 1.01 Entry into a Material Definitive Agreement.
Under the Credit Agreement, dated as of May 23, 2025 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the "Credit Agreement"), BuzzFeed, Inc. (the "Company"), BuzzFeed Media Enterprises, Inc., a wholly-owned subsidiary of the Company, and certain of the Company's other domestic and Canadian subsidiaries as borrowers and guarantors (the "Borrowers") were required to repay $5.0 million of principal on February 20, 2026 to the financial institutions party thereto (the "Lenders"). On February 20, 2026, the Lenders and Sound Point Agency LLC, as agent for the Lenders, consented to amend Section 2.05(b)(iii) of the Credit Agreement by deleting "February 20, 2026" as the due date for the repayment of the $5 million of principal and inserting instead "February 27, 2026" (the "Consent Letter").
If the $5.0 million payment is not made when due, and remains unpaid following the expiration of any applicable cure period as defined in the Credit Agreement, an event of default would occur. Such a default, absent a waiver or amendment from the Lender, would permit the Lender to exercise its contractual remedies, subject to the terms and conditions of the Credit Agreement. For further information regarding the Credit Agreement's terms, refer to the Current Report filed on Form 8-K dated May 23, 2025.
The foregoing description of the Consent Letter does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Consent Letter, which is incorporated herein by reference.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.
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