v3.25.2
Commitments and Contingencies
2 Months Ended
Jun. 30, 2025
Commitments and Contingencies  
Commitments and Contingencies

Note 4: Commitments and Contingencies

The Company did not have any commitments or contingencies as of April 28, 2025.

As of June 3, 2025, in connection with the Merger Agreement, Parent has entered into an amended and restated debt commitment letter, dated as of May 23, 2025 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Debt Commitment Letter”) with certain financial institutions, including JPMorgan Chase Bank, N.A. acting as lead left arranger (collectively, the “Debt Financing Sources”), pursuant to which the Debt Financing Sources have committed to provide debt financing consisting of an approximately $2.1 billion first lien term loan facility, an approximately $1.6 billion first lien revolving facility, an

approximately $1.9 billion senior secured bridge facility and an approximately $2.5 billion junior debt facility (collectively, the “Debt Financing” and together with the Equity Financing, the “Financing”). Parent currently expects to borrow approximately $165.0 million less first lien debt than the committed amount of first lien term loans and bridge loans. The obligations of the Debt Financing Sources to provide the Debt Financing under the Debt Commitment Letter are subject to a number of customary conditions.

On June 26, 2025, the initial term loan facility priced and allocated to a syndicate of lenders in a dollar equivalent amount of approximately $3.0 billion, which represents an increase of approximately $0.9 billion from the initial term loan facility set forth in the Debt Commitment Letter, and consists of approximately $1.6 billion dollar denominated term loans with pricing of SOFR + 325bps with potential pricing step downs based on first lien net leverage ratio and approximately €1.25bn Euro denominated term loans with Euribor + 350bps with potential pricing step downs based on first lien net leverage ratio.