Stagwell Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation, Financial Statements and Exhibits
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Item 1.01 Entry into a Material Definitive Agreement.
On April 23, 2025, certain subsidiaries of Stagwell Inc., a Delaware corporation (the “Company”), entered into the Second Amended and Restated Credit Agreement (the “Second Amended and Restated Credit Agreement”), by and among Stagwell Marketing Group LLC, Stagwell Global LLC and Maxxcom LLC (together, the “Borrowers”), the other Loan Parties, Lenders and Issuing Banks (each as defined therein) party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent thereunder. The Second Amended and Restated Credit Agreement amends and restates that certain Amended and Restated Credit Agreement, dated as of August 2, 2021, as heretofore amended or modified from time to time (the “Existing Credit Agreement”), by and among the Borrowers, the other Loan Parties, Lenders and Issuing Banks party thereto, and the Administrative Agent.
The Second Amended and Restated Credit Agreement, effective as of April 23, 2025, amends and restates the Existing Credit Agreement, to, among other things, (i) provide additional revolving commitments in an aggregate principal amount of $110.0 million for a total of $750.0 million; (ii) extend the maturity date to April 23, 2030; (iii) amend the applicable margin used to calculate the interest rate or borrowings thereunder; and (iv) make any other changes or modifications as agreed with the Lenders.
The foregoing description of the Second Amended and Restated Credit Agreement does not purport to be complete and is subject to, and qualified in its entirety by reference to, the full text of the Second Amended and Restated Credit Agreement, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and 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 description of the Credit Agreement set forth above in Item 1.01 of this Current Report on Form 8-K is incorporated by reference in this Item 2.03.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
|
Exhibit |
Description | |
| 10.1* | Second Amended and Restated Credit Agreement, dated as of April 23, 2025, by and among Stagwell Marketing Group LLC, Stagwell Global LLC, Maxxcom LLC, as the Borrowers, the other Loan Parties party thereto, the Lenders party thereto, the Issuing Banks party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
* Certain schedules and attachments have been omitted pursuant to Item 601(a)(5) of Regulation S-K. The Company agrees to provide, on a supplemental basis, a copy of any omitted schedules and attachments to the Securities and Exchange Commission or its staff upon request.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: April 24, 2025
| STAGWELL INC. | ||
| By: | /s/ Peter McElligott | |
| Peter McElligott | ||
| General Counsel | ||