SIFCO completes sale of C Blade S.p.A. for €20M enterprise value, receives ~$14.7M net cash

SIFCO INDUSTRIES INC

Sale closed Oct 15, 2024; buyer TB2 S.r.l. acquired 100% of C Blade for €20M enterprise value (€13.8M net equity at closing).
Net cash proceeds of ~$14.7M after adjustments and transaction costs; pro forma cash rises from $1.7M to $15.7M.
Pro forma FY2023 net sales from continuing ops $66.1M vs $87.0M historical; net loss from continuing ops $10.5M vs $8.7M.
Pro forma nine months ended Jun 30, 2024: net loss $7.2M vs $4.9M historical; net sales $58.0M vs $76.9M.
One-time transaction costs estimated at $0.5M, with $0.3M still expected to be incurred.

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