Tender Offer - MultiPlan Corp

Form Type: 8-K

Filing Date: 2025-01-27

Corporate Action: Tender-offer

Type: New

Accession Number: 000179322925000004

Filing Summary: On January 24, 2025, MultiPlan Corporation announced the expiration and results of its separate Exchange Offers for various series of Senior Secured Notes, Senior Unsecured Notes, and Convertible Senior PIK Toggle Notes. The Offers were to exchange existing debt instruments for new term loans and notes. A total of $1,043,941,000 in Existing Secured Notes, $974,517,000 in Existing Unsecured Notes, and $1,253,470,000 in Existing Convertible Notes were validly tendered, reflecting high participation rates of 99.42%, 99.46%, and 99.97%, respectively. Additionally, approximately $1.27 billion in Existing Term Loans were tendered, representing about 99.38%. The Exchange Offers were conducted under specific terms outlined in the Offering Memorandum and resulted in significant amendments to the indentures and credit agreements associated with the Old Notes, including the elimination of restrictive covenants and certain events of default. The settlement for the Exchange Offers is expected on January 30, 2025, unless extended or terminated. The press release detailing the results was included as an exhibit in this filing.

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