Risk Factors Update Summary
- Expanded restrictive covenants in 2029 notes indenture and exchange agreement may limit future financing options.
- Added risk related to inability to obtain intellectual property rights or licenses, impacting business and financial condition.
- Increase in outstanding indebtedness from $410 million to $405 million, including convertible notes.
- Added details on default consequences under the 2026 notes indenture and existing/future indebtedness.
- Strategic review led to a goodwill impairment charge of $87 million for the wagering segment.
- Expanded on risks related to the 2029 Secured Convertible Notes, including potential defaults and financial impacts.
- Disclosed restrictions on operating and financial flexibility due to terms of the 2029 notes indenture.
- Included provisions in the Exchange Agreement that could further restrict operating and financial flexibility.
- Highlighted risks related to ownership of common stock, such as variations in operating results.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
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