---
schema_version: "secwatch.filing_event.v1"
accession: "0000055772-23-000051"
form_type: "8-K"
ticker: null
cik: "0000055772"
company_name: "KIMBALL INTERNATIONAL INC"
filed_at: "2023-03-10T23:59:59+00:00"
generated_at: "2026-06-18T06:02:21.362865+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Kimball International enters merger agreement with HNI Corporation for cash and stock

## Summary
- Kimball shareholders to receive $9.00 cash + 0.1301 HNI shares per KBAL share.
- Kimball board unanimously recommends adoption of the merger agreement.
- HNI committed $440M debt financing from Wells Fargo and U.S. Bank for the transaction.
- Termination fees: Kimball pays $15.8M; HNI pays $24.3M under specified conditions.
- Bylaws amended to designate Indiana state/federal courts as exclusive forum for legal actions.

## SEC filing metadata
- accession: 0000055772-23-000051
- form_type: 8-K
- cik: 0000055772
- company_name: KIMBALL INTERNATIONAL INC
- filed_at: 2023-03-10T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/55772/000005577223000051/0000055772-23-000051-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/55772/000005577223000051/kbal-20230307.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000055772-23-000051
- JSON: https://secwatch.observer/filing/0000055772-23-000051.json
- Plain text: https://secwatch.observer/filing/0000055772-23-000051.txt

## Key facts
- Governance Changes
  KIMBALL INTERNATIONAL INC: Amendment designating exclusive forum for certain legal actions in Indiana state or federal courts (effective 2023-03-07).
  - Change: bylaw amendment
  - Effective: 2023-03-07
  source text: On March 7, 2023, Kimball’s board of directors adopted and approved an amendment to Kimball’s Amended and Restated By-Laws (the “ By-Laws Amendment ”), which, among other things, designates the circuit or superior courts of the State of Indiana located in Marion County, Indiana, or in the United States District Courts of Indiana as the sole and exclusive forum for certain legal actions, unless Kimball consents in writing to the selection of an alternative forum.
  evidence_url: https://www.sec.gov/Archives/edgar/data/55772/000005577223000051/0000055772-23-000051-index.htm
- Material Agreements
  KIMBALL INTERNATIONAL INC entered into Agreement and Plan of Merger with HNI Corporation (effective 2023-03-07).
  - Action: entry
  - Agreement: merger
  - Counterparty: HNI Corporation
  - Effective: 2023-03-07
  source text: On March 7, 2023, Kimball International, Inc., an Indiana corporation (“ Kimball ”) entered into an Agreement and Plan of Merger (the “ Merger Agreement ”) by and among Kimball, HNI Corporation, an Iowa corporation (“HNI”), and Ozark Merger Sub, Inc., an Indiana corporation and a wholly-owned subsidiary of HNI (“ Merger Sub ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/55772/000005577223000051/0000055772-23-000051-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.