While Unity’s (U) Q3 2023 earnings report included a lot of information about the company’s operations, there was some key information left off it. Specifically the fact that just yesterday, Unity raised a billion dollars in debt, just a day before the company reported earnings. Conveniently, the company wasn’t required to report this move in its earnings report due to the Securities Act of 1933.
Details about Unity’s debt raising can be found in a fresh filing to the SEC. It’s a lengthy document, but the information we’re referencing can be found on page 3.
Unity stock was down following the earnings news today. In fact, the stock hit an all-time low in after-hours trading, valued as low as $21.33. It’s been a busy week for financial news in general, so be sure to visit our market news page to catch up on anything you may have missed.
Donovan is a young journalist from Maryland, who likes to game. His oldest gaming memory is playing Pajama Sam on his mom's desktop during weekends. Pokémon Emerald, Halo 2, and the original Star Wars Battlefront 2 were some of the most influential titles in awakening his love for video games. After interning for Shacknews throughout college, Donovan graduated from Bowie State University in 2020 with a major in broadcast journalism and joined the team full-time. He is a huge Scream nerd and film fanatic that will talk with you about movies and games all day. You can follow him on twitter @Donimals_
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