Falcon's Beyond Global Settles $9.1 Million Lawsuit With FAST Sponsor II
Falcon's Beyond Global Inc. has reached a settlement in its litigation with FAST Sponsor II LLC, resolving claims related to $9.1 million owed for two term loans. Under the agreement, Falcon's Beyond will make an upfront payment of $2.5 million, which has already been paid, and a deferred settlement payment of $7 million by January 31, 2027, with possible reductions for early payment but not less than $6 million. If the deferred payment is not made by the deadline, it will accrue interest at 10.75% per year. The settlement requires certain distributions from Falcon's Beyond's Spanish subsidiaries to be placed in escrow for FAST's benefit, and grants FAST a security interest in these distributions and a pledge of Falcon's equity in Katmandu Group. Upon full payment, FAST will forfeit and assign 735,000 shares of Falcon's Beyond stock to the company. The agreement settles all claims related to the dispute, with mutual releases taking effect 91 days after the final payment if obligations are met.
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