Company – Scrape Financial
Risk Factors Summary

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.

To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=1484769&owner=exclude

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