Form 8-K - Current report
May 06 2024 - 4:30PM
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2024-05-06
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2024-05-06
2024-05-06
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
Date of Report (Date of earliest event reported):
May 6, 2024
FALCON’S BEYOND GLOBAL, INC.
(Exact name of registrant as specified in its charter)
Delaware |
|
001-41833 |
|
92-0261853 |
(State or other jurisdiction
of incorporation) |
|
(Commission File Number) |
|
(IRS Employer
Identification No.) |
1768 Park Center Drive
Orlando, FL 32835
(Address of principal executive offices, including zip code)
Registrant’s telephone number, including
area code: (407) 909-9350
N/A
(Former name or former address, if changed since
last report)
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ | Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425) |
☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange
Act (17 CFR 240.14a-12) |
☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240.14d-2(b)) |
☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b)
of the Act
Title of each class |
|
Trading Symbol(s) |
|
Name of each exchange on which registered |
Class A common stock, par value $0.0001 per share |
|
FBYD |
|
The Nasdaq Stock Market LLC |
Warrants to purchase 1.034999 shares of Class A common stock, at an exercise price of $11.50 per share |
|
FBYDW |
|
The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the
Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act.
Item 8.01. Other Events.
As previously disclosed in
the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023 (the “Annual Report”), the Company
was served with a complaint (the “Guggenheim Complaint”) on March 27, 2024 in which Guggenheim Securities, LLC (“Guggenheim”)
alleges breach of a contract with Guggenheim. Guggenheim alleges that the Company owes certain fees and expenses of $11,056,512.70 for
services allegedly performed by Guggenheim in connection with the Company’s business combination transaction with FAST Acquisition
Corp. II which was consummated on October 6, 2023 (the “Business Combination”). The disclosure herein supplements and supersedes
the disclosure relating to the Guggenheim Complaint in the Annual Report.
As part of the Company’s
accounting approach to transaction expenses related to the Business Combination, prior to the Company’s receipt of the Guggenheim
Complaint, the Company accrued $11.1 million as of December 31, 2023 with respect to a contract with Guggenheim. The Company intends to
vigorously defend itself against the claims alleged in the Guggenheim Complaint and contest the amounts Guggenheim asserts are owed.
Cautionary Note Regarding Forward-Looking Statements
This Current Report on Form 8-K
contains statements that are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act
of 1995. When used in this Form 8-K, words such as “intends” and similar expressions identify forward-looking statements.
Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ from those expressed in or
implied by the forward-looking statements, including risks related to the Guggenheim Complaint described herein, as well as the risks
disclosed under the caption “Risk Factors” in the Annual Report and the Company’s other filings with the SEC. The forward-looking
statements herein speak only as of the date of this Form 8-K, and the Company undertakes no obligation to publicly update or revise any
forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
Date: May 6, 2024 |
FALCON’S BEYOND GLOBAL, INC. |
|
|
|
By: |
/s/ Bruce A. Brown |
|
Name: |
Bruce A. Brown |
|
Title: |
Chief Legal Officer and Corporate Secretary |
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May 06, 2024 |
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Document Period End Date |
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Entity File Number |
001-41833
|
Entity Registrant Name |
FALCON’S BEYOND GLOBAL, INC.
|
Entity Central Index Key |
0001937987
|
Entity Tax Identification Number |
92-0261853
|
Entity Incorporation, State or Country Code |
DE
|
Entity Address, Address Line One |
1768 Park Center Drive
|
Entity Address, City or Town |
Orlando
|
Entity Address, State or Province |
FL
|
Entity Address, Postal Zip Code |
32835
|
City Area Code |
407
|
Local Phone Number |
909-9350
|
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Class A common stock, par value $0.0001 per share |
|
Title of 12(b) Security |
Class A common stock, par value $0.0001 per share
|
Trading Symbol |
FBYD
|
Security Exchange Name |
NASDAQ
|
Warrants to purchase 1.034999 shares of Class A common stock, at an exercise price of $11.50 per share |
|
Title of 12(b) Security |
Warrants to purchase 1.034999 shares of Class A common stock, at an exercise price of $11.50 per share
|
Trading Symbol |
FBYDW
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Security Exchange Name |
NASDAQ
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