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. . The transaction value is approximately $2.08 million. The transaction occurred as FBYD, currently valued at $1.04 billion, trades with significant volatility and generally moves against 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 continued management of its investment in Falcon's Beyond Global. InvestingPro The analysis shows that the stock is currently trading below its fair value, with additional insights available from 6 key ProTips including financial health, valuations, and market positioning.
In other recent news, Falcon's Beyond Global, Inc. has made significant amendments to loan agreements, affecting payment schedules and interest rates. The Company extended the maturity date of existing arrangements with Kathmandu Ventures, LLC and FAST Sponsor II LLC to February 28, 2025, and increased the interest rate to 11.75% per annum. Loans are now set to be repaid within five business days of any asset sale or third party financing purchase.
Falcon's Beyond Global, LLC also entered into a third amendment to the Kat Loan Agreement with FAST Sponsor, which includes a potential payment of $500,000 to the lenders if the asset sale is not completed by February 2025. In addition, the company received new credit agreements. and Infinite Acquisitions Partners LLC, is providing up to $15 million over ten years, and approximately $8 million has already been loaned under this facility.
At the same time, Falcon's Beyond Global indirect subsidiary, Kathmandu Group, LLC, replaced the existing loan with Infinite through a new unsecured loan amounting to $14,764,768.81, set to mature on September 30, 2034. recent developments reflect the company's efforts to restructure its finances.
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