IAC Inc. 8-K

What Happened

• IAC filed an 8‑K (Item 7.01) to disclose that Dotdash Meredith Inc. (now a directly owned subsidiary and rebranded as “People Inc.” on July 31, 2025) will provide its consolidated financial statements to the administrative agent and lenders as required by the Amended Credit Agreement and the Indenture.
• The financials to be furnished (Exhibit 99.1) are Dotdash Meredith’s consolidated balance sheets as of December 31, 2025 and 2024, and consolidated statements of operations, comprehensive operations, shareholders’ equity and cash flows for the years ended December 31, 2025, 2024 and 2023.

Key Details

• Original Credit Agreement entered Dec 1, 2021; Dotdash Meredith (as successor borrower) assumed obligations via joinder on Mar 1, 2024.
• Amendments: Amendment No.1 (Nov 26, 2024), Amendment No.2 (May 14, 2025), Amendment No.3 (June 16, 2025).
• On June 16, 2025 Dotdash Meredith closed a $400 million offering of 7.625% Senior Secured Notes due 2032 and entered into an indenture with U.S. Bank Trust Company, N.A. as trustee and notes collateral agent.
• Exhibit 99.1 to the 8‑K furnishes the stated consolidated financial statements and related notes.

Why It Matters

• These filings fulfill contractual reporting obligations to lenders and the trustee under the amended credit facilities and the indenture, increasing transparency on Dotdash Meredith’s recent financial performance.
• For investors, the provided financial statements are material because they allow lenders and market participants to assess creditworthiness and covenant compliance tied to the company’s debt arrangements (including the $400M secured notes).