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SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): November 5, 2024

 

Waste Management, Inc.

(Exact Name of Registrant as Specified in Charter)

 

Delaware   1-12154   73-1309529
(State or Other Jurisdiction of
 Incorporation)		   (Commission File Number)   (IRS Employer
Identification No.)

 

800 Capitol Street, Suite 3000, Houston, Texas   77002
(Address of Principal Executive Offices)   (Zip Code)

 

Registrant’s Telephone number, including area code: (713) 512-6200

 

 

 

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock, $0.01 par value WM New York Stock Exchange

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ¨

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

 

 

 

 

 

Item 1.02.Termination of Material Definitive Agreement.

 

On November 5, 2024, Waste Management, Inc. (the “Company”) repaid in full all borrowings under its delayed draw Term Credit Agreement dated August 28, 2024 (as amended, the “Credit Agreement”) and terminated the Credit Agreement.

 

The Company received $5.2 billion principal amount of borrowings under the Credit Agreement on October 30, 2024. The borrowings were used to fund the majority of the consideration for the Company’s acquisition of Stericycle, Inc. that closed on November 4, 2024. Net proceeds from the Company’s issuance and sale of $5.2 billion of senior notes that also closed on November 4, 2024 were applied to repayment of the Credit Agreement borrowings.

 

A summary of the material terms of the Credit Agreement are set forth in Item 1.01 of the Company’s Current Report on Form 8-K filed September 3, 2024 and are incorporated herein by reference.

 

2

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

 

  WASTE MANAGEMENT, INC.
     
Date: November 7, 2024 By:  /s/ Charles C. Boettcher 
    Charles C. Boettcher
    Executive Vice President and Chief Legal Officer

 

 

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