BuzzFeed, Inc. entered into a Share Purchase Agreement on September 11, 2026, with Allen Family Digital, LLC. Under the agreement, Allen Family Digital agreed to purchase 1,700,000 newly issued shares of BuzzFeed’s Class A common stock.
The transaction is valued at $1.06 per share, which represents the closing price of BuzzFeed’s Class A common stock on The Nasdaq Stock Market LLC as reported on September 10, 2026. The total consideration to be paid by the Purchaser is approximately $1.8 million.
The agreement qualifies as a related party transaction because Mr. Byron Allen Folks, the Chairman of BuzzFeed’s Board of Directors and the Founder, Chairman, and CEO of Allen Family Digital, is the Purchaser’s controlling shareholder. Mr. Folks disclosed his interest in the transaction and abstained from voting on or approving the agreement.
The transaction was approved by the audit committee pursuant to the Company’s related party transaction policy. Additionally, four disinterested directors approved the agreement after determining in good faith that the terms are fair and reasonable to the Company and its stockholders.
The shares are to be issued on September 11, 2026, and the issuance is exempt from registration under the Securities Act of 1933 in reliance upon Section 4(a)(2).
