Dotdash Meredith in its $400 million private offering of 7.625% senior secured notes due 2032

On June 5, 2025, IAC Inc. (NASDAQ: IAC) announced that its wholly owned subsidiary, Dotdash Meredith Inc., has agreed to sell $400 million aggregate principal amount of 7.625% senior secured notes due 2032 in a private offering.  DDM intends to use the proceeds from the offering, together with the borrowings under DDM’s new $700 million term loan B facility and cash on hand, to repay all of the indebtedness outstanding under DDM’s existing $1.18 billion term loan B-1 facility and to pay related fees and expenses.  The closings of each of the offering and new term loan B facility are expected to occur on or about June 16, 2025, each subject to the satisfaction of customary closing conditions.

Wachtell, Lipton, Rosen & Katz is serving as legal advisor to IAC.