UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of
Report (Date of earliest event reported): March 31, 2021 (
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Item 1.01. Entry into a Material Definitive Agreement.
On March 26, 2021, Match Group Holdings II, LLC, a wholly-owned subsidiary of Match Group, Inc., entered into Amendment No. 7 (the “Seventh Amendment”) to that certain credit agreement, dated as of October 7, 2015, as amended and restated as of November 16, 2015, as further amended as of December 16, 2015, as further amended as of December 8, 2016, as further amended as of August 14, 2017, as further amended as of December 7, 2018 and as further amended as of February 13, 2020, with JPMorgan Chase Bank, N.A., as administrative agent, and certain lenders party thereto (the “Existing Credit Agreement”).
The Seventh Amendment amends the Existing Credit Agreement to, among other things, provide for a $400 million incremental “delayed draw” term loan facility, the proceeds of which may be used only to finance a portion of the consideration for the acquisition of Hyperconnect, Inc. The term loan facility provides Match Group with an additional potential source of funding for the Hyperconnect acquisition, including in the event the company determines to deliver cash in lieu of some or all of the consideration otherwise payable in shares of Match Group common stock. There are no amounts outstanding under the term loan facility as of the date of this report.
The foregoing description of the Seventh Amendment is not intended to be complete and is qualified in its entirety by reference to the Seventh Amendment, a copy of which is attached hereto as Exhibit 10.1, and 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 under Item 1.01 above is incorporated by reference into this Item 2.03.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
SIGNATURE
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.
| MATCH GROUP, INC. | ||
| By: | /s/ Gary Swidler | |
| Gary Swidler | ||
| Chief Operating Officer and Chief Financial Officer | ||
Date: March 31, 2021