Company: LAWIL
Filing Date: 2025-09-24
Form Type: 8-K
Source: 0001104659-25-092953
Chunk: 0

Company: Light & Wonder, Inc.
Filing Date: 2025-09-24
Form: 8-K
Item: Item 1.01
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Item 1.01. Entry into a Material Definitive Agreement.

Indenture

On September 24, 2025, Light and Wonder International, Inc.
(“ LNWI”), a wholly owned subsidiary of Light & Wonder, Inc. (the “ Company”), issued $1 billion in
aggregate principal amount of senior unsecured notes due 2033 (the “ Notes”) in a private offering to persons reasonably believed
to be qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (the “ Securities
Act”), and to non-U. S. persons under Regulation S under the Securities Act. The Notes were issued pursuant to an Indenture, dated
as of September 24, 2025 (the “ Indenture”), among LNWI, as issuer, the Company, the other guarantors party thereto and
Deutsche Bank Trust Company Americas, as trustee.

The Notes bear interest at the rate of 6.250% per
annum, which accrues from September 24, 2025 and is payable semiannually in arrears on April 1 and October 1 of each year,
beginning on April 1, 2026.

LNWI may redeem some or all of the Notes at any
time prior to October 1, 2028, at a redemption price equal to 100% of the principal amount of the Notes plus accrued and unpaid
interest, if any, to the date of redemption plus a “make whole” premium. LNWI may redeem some or all of the Notes at any time
on or after October 1, 2028, at the prices specified in the Indenture. In addition, at any time on or prior to October 1, 2028,
LNWI may redeem up to 40% of the initially outstanding aggregate principal amount of the Notes at a redemption price of 106.250% of the
principal amount thereof, plus accrued and unpaid interest, if any, to the date of redemption, with the net cash proceeds contributed
to the capital of the Company from one or more equity offerings of the Company.

Additionally, if a holder of the Notes is required
to be licensed, qualified or found suitable under any applicable gaming laws or regulations and that holder does not become so licensed
or qualified or is not found to be suitable, then LNWI will have the right to, subject to certain notice provisions set forth in the Indenture,
(i