secwatch.observer — SEC 8-K summary
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Issuer:     DLH Holdings Corp. (DLHC)
CIK:        0000785557
Form:       8-K
Filed at:   2022-12-14T23:59:59+00:00
Accession:  0000785557-22-000052
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 2.01, 2.03, 3.02, 3.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

DLH Holdings acquires Grove Resource Solutions for $185M; funds with new $260M credit facility
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- Purchase price: $185M ($178M cash + 526,898 shares of DLHC valued at $7M) for Grove Resource Solutions.
- Financed with $190M term loan and $25.2M revolver draw under new $260M credit facility; total debt $215.2M at close.
- New credit agreement matures Dec 2027, quarterly principal payments, SOFR-based interest, and leverage covenant (max 4.5x initial).
- Grove became a wholly-owned subsidiary of DLH on December 8, 2022; escrow of ~$4.3M plus shares for post-closing adjustments.
- 526,898 shares of DLHC issued in a private transaction exempt from registration under Section 4(a)(2).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/785557/000078555722000052/0000785557-22-000052-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/785557/000078555722000052/dlhc-20221208.htm
  HTML page:      https://secwatch.observer/filing/0000785557-22-000052

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