Item 1A. Risk Factors
ITEM 1A. RISK FACTORS
Other than the following risk factor relating to the announced sale of the MML Portfolio, there have been no material changes to the risk factors disclosed in Item 1A. “Risk Factors” of our most recent annual report on Form 10-K. The materialization of any risks and uncertainties identified in our Special Note Regarding Forward-Looking Statements contained in this report together with those previously disclosed in our most recent annual report on Form 10-K or those that are presently unforeseen could result in significant adverse effects on our financial condition, results of operations and cash flows. See Item 2. “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Special Note Regarding Forward-Looking Statements” in this quarterly report or our most recent annual report on Form 10-K.
We may not consummate the sale of the MML Portfolio on a timely basis, on its current terms or at all, and even if consummated, we may not fully realize the anticipated benefits of the sale.
As discussed under the Note titled “Subsequent Events” in the Notes to the Consolidated Financial Statements included in Item 1. "Financial Statements," we have entered into a definitive agreement to transfer the MML Portfolio. While the sale is expected to be completed by the end of the second quarter of 2022, there can be no assurance that the sale will be completed in a timely manner, on its current terms or at all, as the completion of the sale is dependent on a number of factors, including customary closing conditions. If we are unable to consummate the sale, then we will not derive the expected benefits to our business. Further, even if we do consummate the sale, we nonetheless may not fully realize the anticipated benefits of the transaction.
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