Infinite Acquisitions Partners LLC, a significant shareholder in Falcon's Beyond Global, Inc. (NASDAQ:FBYD), sold 260,642 shares of Class B Common Stock on December 31, 2024. The shares were sold at a price of $7.99 each, amounting to a total transaction value of approximately $2.08 million. The transaction occurred as FBYD, currently valued at $1.04 billion, trades with notable volatility and typically moves counter to broader market trends with a beta of -0.36, according to InvestingPro data. Following this sale, Infinite Acquisitions retains ownership of 24,943,102 shares. The transaction reflects the company's ongoing management of its investment in Falcon's Beyond Global. InvestingPro analysis indicates the stock is currently trading below its Fair Value, with additional insights available through 6 key ProTips covering financial health, valuation metrics, and market positioning.
In other recent news, Falcon's Beyond Global, Inc. has made significant amendments to its loan agreements, impacting repayment schedules and interest rates. The company has extended the maturity date of its existing arrangements with Katmandu Ventures, LLC and FAST Sponsor II LLC to February 28, 2025, and increased the interest rate to 11.75% per annum. The loans are now set to be settled within five business days following any asset sale or procurement of third-party financing.
Falcon's Beyond Global, LLC also entered into a third amendment to the Universal Kat Loan Agreement with FAST Sponsor, which includes a potential payment of $500,000 to lenders if an asset sale is not finalized by February 2025. Furthermore, the company has secured new credit agreements with Infinite Acquisitions Partners LLC, providing up to $15 million with a ten-year maturity, and approximately $8 million has already been borrowed under this facility.
Simultaneously, Falcon's Beyond Global's indirect subsidiary, Katmandu Group, LLC, replaced existing loans with Infinite through a new unsecured loan totaling $14,764,768.81, set to mature on September 30, 2034. These recent developments highlight the company's efforts to restructure its financial obligations.
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