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BuzzFeed, Inc. Secures $40 Million Loan
May 27 2025 - 9:32AM
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New Credit Agreement Enables BuzzFeed, Inc. to Eliminate Convertible Debt in Full and Purchase 4.9% of Its Class A Common Stock

BuzzFeed, Inc. (“BuzzFeed” or the “Company”) (Nasdaq: BZFD) today announced it has entered into a new $40 million term loan provided by Sound Point Agency LLC. The agreement will offer BuzzFeed increased financial flexibility to support its business operations, simplify its capital structure, and invest in strategic initiatives.

BuzzFeed intends to use a portion of the proceeds to repay, in full, its outstanding convertible notes. Once that redemption process is completed, BuzzFeed will have fully terminated its convertible debt obligations.

The company also agreed to purchase 1,826,845 shares of its Class A common stock in a privately negotiated transaction with a single shareholder at a price of $1.824 per share. The transaction currently represents 4.9% of BuzzFeed's Class A common stock outstanding.

The new credit facility enhances BuzzFeed’s capital position and accelerates its focus on long-term growth and financial discipline.