Infinite Acquisitions Partners LLC, a major shareholder of 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 $7.99 per share, for a total transaction value of approximately $2.08 million. The deal took place as FBYD, currently valued at $1.04 billion, trades with significant volatility and typically 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. This transaction reflects the company's continued management of its investment in Falcon's Beyond Global. InvestingPro The analysis indicates that the stock is currently trading below its fair value, with additional insights available through 6 key ProTips covering financial health, valuation metrics and market position.
In other recent news, Falcon's Beyond Global, Inc. made significant modifications to its loan agreements, affecting repayment schedules and interest rates. The Company extended the maturity date of its existing arrangements with Katmandu Ventures, LLC and FAST Sponsor II LLC to February 28, 2025, increasing the interest rate to 11.75% per annum. Loans are now scheduled to be settled within five business days following any sale of assets or purchase of third-party financing.
Falcon's Beyond Global, LLC has also entered into a third amendment to Universal Kat's loan agreement with FAST's sponsor, which includes a potential $500,000 payment to lenders if the asset sale is not completed by February 2025. Additionally, the company has secured new credit agreements with Infinite Acquisitions LLC, which offers up to $15 million with a ten-year maturity, has already borrowed approximately $8 million under this facility.
At the same time, Katmandu Group, LLC, Falcon's indirect subsidiary Beyond Global, has replaced Infinite's existing loans with a new unsecured loan totaling $14,764,768.81, which is scheduled to mature on September 30, 2034. Recent developments highlight the company's efforts to restructure its financial obligations.
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