Square, Inc. (NYSE:SQ) Files An 8-K Entry into a Material Definitive AgreementItem 1.01
Square, Inc. (the “Company”) entered into the Second Amendment to Credit Agreement, dated as of May21, 2018, among the Company, the lenders that are a party thereto, and JPMorgan Chase Bank, N.A., as administrative agent (the “Amendment”). The Amendment amends the Revolving Credit Agreement, dated as of November2, 2015, among the Company, the lenders that are a party thereto, and JPMorgan Chase Bank, N.A., as administrative agent (as first amended on February27, 2017, the “Original Credit Agreement,” and as further amended, modified, or supplemented, the “Credit Agreement”).
The Amendment amended the Original Credit Agreement to, among other things, permit the Company to issue convertible senior unsecured notes.
Certain of the lenders under the Credit Agreement and their affiliates have engaged in, and may in the future engage in, other commercial dealings with the Company or its affiliates in the ordinary course of business, including in connection with an offering of convertible senior unsecured notes. They have received, or may in the future receive, customary fees and commissions for those transactions.
The foregoing description of the Amendment is qualified in its entirety by reference to the Amendment attached as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
On May21, 2018, the Company issued a press release announcing its intention to offer $750million aggregate principal amount of convertible senior unsecured notes due 2023 in a private placement to qualified institutional buyers to Rule 144A under the Securities Act of 1933, as amended. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
| Item 1.01 | Financial Statements and Exhibits. |
(d) Exhibits.
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ExhibitNo. |
Description |
| 10.1 | Second Amendment to Credit Agreement, dated as of May21, 2018, among Square, Inc., the Lenders Party Thereto, and JPMorgan Chase Bank, N.A., as Administrative Agent. |
| 99.1 | Press Release, dated May21, 2018. |
Square, Inc. ExhibitEX-10.1 2 d574043dex101.htm EX-10.1 EX-10.1 Exhibit 10.1 SECOND AMENDMENT TO CREDIT AGREEMENT SECOND AMENDMENT (this “Amendment”),…To view the full exhibit click here
About Square, Inc. (NYSE:SQ)
Square, Inc. enables payment processing, and also offers financial and marketing services. The Company provides sellers various tools to start, run, manage and grow their businesses. It serves sellers of all sizes, ranging from a single vendor at a farmers’ market to multinational businesses. It serves as a payment service provider, acting as the touch point for the seller to the rest of the payment chain. Square Register is a point of sale (POS) software application for iPhone operating software (iOS) and Android, and is available to sellers across the world. Square Reader for magnetic stripe cards plugs into the standard headset jack of a mobile device, enabling swiped transactions. Square Customer Engagement helps sellers analyze and understand their businesses, engage their buyers in ongoing conversations, and promote their offerings through e-mail marketing. Caviar offers a food delivery service to help restaurants reach new customers.
