secwatch.observer — SEC 8-K summary
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Issuer:     AZZ INC (AZZ)
CIK:        0000008947
Form:       8-K
Filed at:   2022-05-16T23:59:59+00:00
Accession:  0000008947-22-000056
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 2.01, 5.02, 1.02, 2.03, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

AZZ completes $1.283B acquisition of Sequa Mezzanine; funds with $1.3B term loan and $240M convertible notes
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- Acquired all membership interests of Sequa Mezzanine for $1,283,000,000 (Precoat purchase price).
- Entered new $1.3B term loan ($400M revolver) with 4.25% interest; matures 2029/2027.
- Issued $240M 6.00% convertible subordinated notes due 2030 to Blackstone; exchangeable into Series A Preferred.
- Blackstone receives board seat; David M. Kaden appointed as initial designee.
- Terminated 2021 credit facility; will redeem $150M senior notes (2.77% and 3.17%) at make-whole.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/8947/000000894722000056/0000008947-22-000056-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/8947/000000894722000056/azz-20220513.htm
  HTML page:      https://secwatch.observer/filing/0000008947-22-000056

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer