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IAC/INTERACTIVECORP

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IAC/INTERACTIVECORP : Termination of a Material Definitive Agreement, Regulation FD Disclosure, Financial Statements and Exhibits (form 8-K)

08/04/2021 | 05:25pm EDT

Item 1.02. Termination of a Material Definitive Agreement.

On July 29, 2021, ANGI Group, LLC ("ANGI Group"), a wholly owned subsidiary of Angi Inc ("ANGI"), a majority-owned, publicly traded subsidiary of IAC/InterActiveCorp ("IAC" or the "Registrant"), gave notice to JPMorgan Chase Bank, N.A. ("JP Morgan") that effective August 3, 2021 (the "Effective Date"), the Amended and Restated Credit Agreement, dated as of November 5, 2018, by and among ANGI, as borrower, the lenders from time to time party thereto and JPMorgan, as administrative agent, as amended by Amendment No. 1 thereto, dated as of August 12, 2020, and subject to the Joinder and Reaffirmation Agreement, dated as of August 12, 2020, among ANGI, ANGI Group, certain subsidiaries of ANGI, and JPMorgan, as administrative agent and collateral agent, (collectively, the "Credit Agreement"), shall terminate in whole.

The terms of the Credit Agreement are summarized in the Current Reports on Form 8-K filed by ANGI (SEC File No. 001-38220) with the U.S. Securities and Exchange Commission on November 9, 2018 and August 12, 2020 , which are incorporated herein by reference.

As of the Effective Date, there were no borrowings outstanding under the Credit Agreement, and following the payment of all required fees due and payable, the Credit Agreement was terminated. The decision to terminate the Credit Agreement was made by ANGI and ANGI Group in the ordinary course of business.

Item 7.01 Regulation FD Disclosure.

On August 4, 2021, the Registrant announced that it had released its results for the quarter ended June 30, 2021. The full text of the related press release, which is posted on the "Investor Relations" section of the Registrant's website at http://ir.iac.com/quarterly-results and appears in Exhibit 99.1 hereto, is incorporated herein by reference.

Exhibit 99.1 is being furnished under both Item 2.02 "Results of Operations and Financial Condition" and Item 7.01 "Regulation FD Disclosure."

Item 9.01 Financial Statements and Exhibits.



Exhibit No.                                   Description
   99.1         Press Release of IAC/InterActiveCorp, dated August 4, 2021.
    104       Cover Page Interactive Data File (embedded within the Inline XBRL document).




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Stocks mentioned in the article
ChangeLast1st jan.
ANGI INC. 0.59% 11.87 Delayed Quote.-10.04%
IAC/INTERACTIVECORP 1.91% 130.21 Delayed Quote.-31.23%
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Financials (USD)
Sales 2021 3 332 M - -
Net income 2021 452 M - -
Net cash 2021 3 149 M - -
P/E ratio 2021 26,7x
Yield 2021 -
Capitalization 11 619 M 11 619 M -
EV / Sales 2021 2,54x
EV / Sales 2022 2,22x
Nbr of Employees 8 200
Free-Float 86,3%
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Number of Analysts 17
Last Close Price 130,21 $
Average target price 173,31 $
Spread / Average Target 33,1%
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