Business Context and Reporting Period
Company: MediaAlpha, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: June 8, 2023
Reporting Period: Specific event date of June 8, 2023.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, or liquidity ratios. The report focuses exclusively on a contractual amendment regarding debt financing terms.
Material Changes
Entry into a Material Definitive Agreement:
- Parties: QuoteLab, LLC and QL Holdings LLC (subsidiaries of MediaAlpha, Inc.) entered into a Second Amendment to their Credit Agreement dated September 23, 2020.
- Administrative Agent: JPMorgan Chase Bank, N.A.
- Primary Change: The amendment replaces the London Interbank Offered Rate (LIBOR) with the Secured Overnight Financing Rate (SOFR) as the interest rate benchmark for the credit facility.
Guidance, Outlook, and Risks
Management Commentary: The filing provides no forward-looking guidance, outlook, or management commentary regarding future financial performance.
Risks and Contingencies: No specific risks or contingencies are detailed in this report beyond the standard reference to the full text of the Second Amendment for complete terms.
Investor Verification Checklist
- Verify the specific interest rate spread and margin adjustments associated with the transition from LIBOR to SOFR in the full text of Exhibit 10.1.
- Confirm the total outstanding principal balance under the Amended Credit Agreement to assess the impact of the rate benchmark change.
- Review the effective date of the SOFR transition to understand timing implications for interest expense.