WW International (WW) Earnings Call Presentation

Financial Restructuring Plan Overview - The company is undertaking a strategic action to eliminate $1.15 billion of debt and strengthen its financial position[4] - The reorganization plan aims to reduce existing debt of $1.6 billion to a pro forma debt of $465 million, representing an approximate 70% reduction[6] - Debt maturities are extended from 2028/2029 to 2030[8] - The company intends to remain a publicly traded company upon emergence from the reorganization process[12] Financial Impact - Annual interest expense is projected to decrease by approximately $50 million, representing a ~50% reduction[9, 10] - The company's net leverage is expected to decrease from 9.4x to less than 3x[9, 10] - The transaction provides for the retention of $171 million of cash previously drawn from its revolving credit facility[11] - Cash increased from $183 million to $236 million[9] Transaction Details - The company will issue $465 million in new senior secured debt due 2030[12] - The interest rate on the new debt will be SOFR + 680 basis points for the new term loan or 1025% for the new note[13] - Existing lenders and noteholders will receive 91% of the new common equity of the reorganized company, subject to dilution[13]