Falcon’s Beyond Global Enters into Loan Agreement Amendments

Falcon’s Beyond Global, Inc. (NASDAQ: FBYD) announced on November 27, 2024, that its subsidiary, Falcon’s Beyond Global, LLC, has entered into significant amendments to two loan agreements. These agreements were made with Katmandu Ventures, LLC, a 10% shareholder of the company, and FAST Sponsor, further solidifying the financial undertakings of the organization.

The first amendment, the Third Amendment to Katmandu Ventures Loan Agreement, modified the existing term loan agreement from March 28, 2024. Changes included adjustments to the repayment schedule, an extension of the maturity date to February 28, 2025, and a rise in the interest rate to 11.75% per annum effective November 16, 2024. Moreover, the loan became instantly due and payable within five business days following the completion of an asset sale or third-party financing receipt.

Simultaneously, Falcon’s Beyond Global, LLC entered into the Third Amendment to Universal Kat Loan Agreement with FAST Sponsor. This amendment also affected the repayment terms, maturity date, and interest rate, aligning them with the adjustments in the Katmandu Ventures Loan Agreement. Notably, in case the asset sale transaction culminates after the specified dates, additional payments of $250,000 each will be made to the lenders.

As per the filings with the Securities and Exchange Commission (SEC), additional details and the complete terms of the amendments can be found in the respective agreements filed as Exhibits 10.1 and 10.2 to Falcon’s Beyond Global’s Form 8-K.

These amendments highlight Falcon’s Beyond Global’s proactive approach in managing its financial commitments and enhancing its financial flexibility during strategic transactions in the current business landscape.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Falcon’s Beyond Global’s 8K filing here.

Falcon’s Beyond Global Company Profile

Falcon's Beyond Global, Inc operates as an entertainment company in the United States, Saudi Arabia, Caribbean, Hong Kong, and internationally. The company creates master plans; designs attractions and experiential entertainment; and produces content, interactives, and software, as well as engages in media and audio production, project management, experiential technologies, and attraction hardware development, procurement, and sales.