UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Item 7.01. Regulation FD Disclosure
Getty Images Holdings, Inc. (the “Company”) previously reported that it planned to use approximately $275 million of cash proceeds from its recently completed business combination to repay a portion of its outstanding indebtedness. As part of its ongoing commitment to the prioritization of further reducing its leverage, the Company has contributed an additional $25 million of balance sheet cash to the previously announced $275 million of deal proceeds towards this debt repayment, for a total debt repayment of $300 million.
On August 23, 2022, Getty Images, Inc., an indirect wholly owned subsidiary of the Company (“Getty Images”), made a voluntary prepayment of $300 million of its USD senior secured term loan under its existing credit facility consisting of (i) a $992.6 million outstanding term loan facility (the “USD Term Loan”), (ii) a $438.9 million USD equivalent of Euro, converted using currency exchange rate as of June 30, 2022, outstanding term loan facility (the “EUR Term Loan”) and (iii) an $80.0 million revolving credit facility. Following the voluntary prepayment, the Company has approximately $692.6 million outstanding under its USD Term Loan and $438.9 million outstanding under its EUR Term Loan converted using currency exchange rate as of June 30, 2022.
The information contained in this Item 7.01 of this Current Report on Form 8-K is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section. Such information shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in any such filing.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: August 23, 2022
| GETTY IMAGES HOLDINGS, INC. | ||
| By: | /s/ Kjelti Kellough | |
| Name: | Kjelti Kellough | |
| Title: | Senior Vice President, General Counsel, and Corporate Secretary | |
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