Firy (NASDAQ: FIRY) trims 10.25% debt, $49.7M remains
Rhea-AI Filing Summary
Firy Inc. (formerly Skillz Inc.) reported that on August 14, 2026 it redeemed $80.0 million in aggregate principal amount of its outstanding 10.250% Secured Notes due 2026. The Notes were redeemed at a redemption price of 100.000% of principal, plus accrued and unpaid interest, meaning the company paid their full face value in cash in addition to interest owed up to the redemption date.
After this transaction, Firy Inc. states that $49,671,000 aggregate principal amount of these Secured Notes remains outstanding as of August 14, 2026. This action reduces the outstanding balance of this high‑coupon debt while leaving a smaller portion of the 10.250% Secured Notes still in place.
Positive
- Company redeemed $80.0 million of high‑coupon 10.250% Secured Notes due 2026, reducing outstanding debt.
- Redemption was completed at 100.000% of principal plus interest, removing a portion of expensive debt obligations.
Negative
- None.
8-K Event Classification
2 items: 8.01, 9.01
2 items
Item 8.01
Other Events
Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Notes Redeemed: $80.0 million
Interest Rate on Notes: 10.250%
Redemption Price: 100.000% of principal
+1 more
4 metrics
Notes Redeemed
$80.0 million
Aggregate principal amount of 10.250% Secured Notes due 2026 redeemed on August 14, 2026
Interest Rate on Notes
10.250%
Coupon on Secured Notes due 2026 that were partially redeemed
Redemption Price
100.000% of principal
Price paid on redeemed Notes, plus accrued and unpaid interest
Notes Outstanding After Redemption
$49,671,000
Aggregate principal amount of 10.250% Secured Notes due 2026 still outstanding as of August 14, 2026
Key Terms
Secured Notes, aggregate principal amount, redemption price, accrued and unpaid interest
4 terms
Secured Notes financial
"10.250% Secured Notes due 2026 (the “Notes”)"
Secured notes are loans issued as tradable bonds that are tied to specific assets—like a mortgage is tied to a house—so if the borrower can’t pay, holders have a legal claim on that collateral. For investors this usually means lower risk and higher chance of recovering money in a default, but returns tend to be smaller than for unsecured debt and the real safety depends on the value and legal strength of the pledged assets.
aggregate principal amount financial
"redeemed $80.0 million in aggregate principal amount of the Company’s outstanding"
The aggregate principal amount is the total amount of money borrowed through a bond or loan that the borrower promises to repay. It’s like the original price tag on a loan or bond, showing how much money is involved in the deal. This number matters because it indicates the size of the debt and helps investors understand the scale of the borrowing.
redemption price financial
"at a redemption price of 100.000% of the principal amount"
The redemption price is the amount of money a person receives when they sell or redeem a bond or investment before it matures. It’s important because it determines how much you get back and can affect your overall profit or loss on the investment. Think of it like the price you get when returning a gift card early—it's the value you receive at that time.
accrued and unpaid interest financial
"plus accrued and unpaid interest"
Accrued and unpaid interest is the interest that has built up on a loan or debt but hasn't been paid yet. It's like owing your friend money for a favor over time—you're expected to pay it later, even though you haven't paid it yet. This matters because it shows how much you owe beyond the original amount borrowed.
FAQ
What debt did FIRY (Firy Inc.) redeem on August 14, 2026?
Firy Inc. redeemed $80.0 million in aggregate principal amount of its outstanding 10.250% Secured Notes due 2026. The redemption was executed at 100.000% of principal, plus accrued and unpaid interest.
How much of FIRY’s 10.250% Secured Notes remains outstanding after the redemption?
After the redemption, Firy Inc. reports that $49,671,000 aggregate principal amount of its 10.250% Secured Notes due 2026 remains outstanding as of August 14, 2026.
At what price did FIRY redeem its 10.250% Secured Notes due 2026?
Firy Inc. redeemed the Notes at a redemption price of 100.000% of principal, plus accrued and unpaid interest. This means the company paid full face value on the redeemed Notes, in addition to interest owed.
Did FIRY change its corporate name in this disclosure?
The company identifies itself as Firy Inc. (formerly Skillz Inc.). This indicates that the current registrant name is Firy Inc., with Skillz Inc. referenced as its prior name.
AI-generated analysis. How Rhea-AI works. Not financial advice.
