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 Erskine posted a new article, Unity (U) raised $1 billion of debt this week
That seems like a lot. Good thing the former CEO got his failure payout!