Magnera completes HHNF spinoff merger; incorporates Spinco 10-K risk factors and audited financials

Magnera Corp

Transaction closed Nov 4, 2024: Berry's HHNF business merged into Magnera (f/k/a Glatfelter) via Reverse Morris Trust.
Spinco 10-K risk factors incorporated; key risks: global economic conditions, raw material inflation, competition, and supply chain disruptions.
Goodwill impairment of $171M recorded in Rest of World segment in fiscal 2024 due to lower market multiples and softness.
Spinco MD&A notes global macro headwinds but asserts long-term demand strength; relies on ability to pass through raw material costs.
Audited Spinco combined financials for fiscal years ended Sep 28, 2024 and Sep 30, 2023 are incorporated by reference.

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