secwatch.observer — SEC 8-K summary
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Issuer:     V F CORP (VFC)
CIK:        0000103379
Form:       8-K
Filed at:   2024-10-03T23:59:59+00:00
Accession:  0000103379-24-000024
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.80
Item codes: 2.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

VF Corp completes Supreme sale to EssilorLuxottica for $1.5B; expects ~$1.475B net proceeds
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- Sold Supreme to EssilorLuxottica for $1.5B on October 1, 2024; net cash proceeds estimated at $1.475B.
- Proceeds will repay delayed draw term loan ($1B), commercial paper ($250M), and partially redeem 2025 notes ($224.3M).
- Supreme classified as discontinued operation; pro forma shows net loss of $147.9M for Q1 FY2025 vs $258.9M reported.
- Pro forma FY2024 net loss widened to $1.01B from $968.9M reported, due to impairment and interest adjustments.
- Transition services agreement entered with EssilorLuxottica for post-closing services.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/103379/000010337924000024/0000103379-24-000024-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/103379/000010337924000024/vfc-20241001.htm
  HTML page:      https://secwatch.observer/filing/0000103379-24-000024

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