---
schema_version: "secwatch.filing_event.v1"
accession: "0000109177-26-000013"
form_type: "8-K"
ticker: "SPB"
cik: "0000109177"
company_name: "Spectrum Brands Holdings, Inc."
filed_at: "2026-05-04T23:59:59+00:00"
generated_at: "2026-05-14T23:49:18.021219+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Spectrum Brands secures $127M Oaktree investment in HPC business; Oaktree to hold ~27% equity stake

## Summary
- $127M Oaktree investment: $67M convertible preferred equity at 8% dividend, $60M first lien term loan at SOFR+5.50%.
- Convertible preferred yields 8.0% compounded quarterly; term loan has SOFR+5.50% or base+4.50%.
- Expected close on or about May 11, 2026; Oaktree gets ~27% equity stake, remainder held by Spectrum subsidiary.
- Transaction advances HPC separation; HPC removed from Parent's collateral package post-closing.

## SEC filing metadata
- accession: 0000109177-26-000013
- form_type: 8-K
- ticker: SPB
- cik: 0000109177
- company_name: Spectrum Brands Holdings, Inc.
- filed_at: 2026-05-04T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/109177/000010917726000013/0000109177-26-000013-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/109177/000010917726000013/spb-20260501.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000109177-26-000013
- JSON: https://secwatch.observer/filing/0000109177-26-000013.json
- Plain text: https://secwatch.observer/filing/0000109177-26-000013.txt

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