Lions Gate Entertainment Corporation

12/16/2024 | Press release | Distributed by Public on 12/16/2024 06:43

Material Agreement Form 8 K

Item 1.01.

Entry into a Material Definitive Agreement.

On September 30 2024, certain subsidiaries (the "Borrower Subsidiaries") of Lions Gate Entertainment Corp. (the "Company") entered into a senior secured amortizing term credit facility (the "LG IP Credit Facility") secured by a security interest in collateral that included intellectual property rights primarily associated with certain library titles (the "Collateral"), pursuant to that certain Credit, Security and Pledge Agreement (the "Agreement") by and among the Borrower Subsidiaries, the direct parent of such Borrower Subsidiaries, certain lenders party thereto, Fifth Third Bank, a National Association, as administrative agent and joint lead arranger, East West Bank, as reserve deposit agent, Zions Bankcorporation, N.A. (d/b/a California Bank & Trust) and First-Citizens Bank & Trust Company as co-documentationagents, and Western Alliance Bank as joint lead arranger. At September 30, 2024, the maximum principal amount of the LG IP Credit Facility was $455.0 million, subject to the amount of Collateral available, which is based on the valuation of unsold rights from library titles. The LG IP Credit Facility is subject to quarterly required principal payments of 2.5% of the applicable aggregate outstanding principal amount, beginning February 14, 2025, with the balance payable at maturity. Advances under the LG IP Credit Facility bear interest at a rate equal to Term SOFR plus 2.25% per annum. The LG IP Credit Facility matures on September 30, 2029.

On November 5, 2024, the Agreement was amended and restated (the "Amended Agreement") to include an additional Borrower Subsidiary and to increase the maximum principal amount of the LG IP Credit Facility to $720.0 million.

On December 9, 2024, the parties to the Amended Agreement entered into Amendment No. 1 ("Amendment 1") which increased the maximum principal amount of the LG IP Credit Facility to $850.0 million.

The foregoing descriptions of the Agreement, the Amended Amendment and Amendment 1 are not intended to be complete and are qualified in their entirety by reference to the documents, copies of which are attached hereto as Exhibit 10.1, Exhibit 10.2 and Exhibit 10.3, respectively, and incorporated herein by reference.