secwatch.observer — SEC 8-K summary
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Issuer:     ALLEGRO MICROSYSTEMS, INC. (ALGM)
CIK:        0000866291
Form:       8-K
Filed at:   2023-04-05T23:59:59+00:00
Accession:  0000866291-23-000012
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 1.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Allegro terminates Sanken Japan distribution rights, pays $5M, enters transition agreements
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- Terminated exclusive distribution agreement with Sanken for Japan, effective March 31, 2023; paid $5M one-time payment for cancellation of rights.
- Entered 24-month distribution agreement effective April 1, 2023 for Sanken to manage and sell existing Allegro inventory.
- Signed six-month consulting agreement for Sanken to provide transition services for a strategic customer.
- Sanken is Allegro's largest stockholder, holding a majority of outstanding common stock; transactions approved by Audit Committee.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/866291/000086629123000012/0000866291-23-000012-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/866291/000086629123000012/algm-20230330.htm
  HTML page:      https://secwatch.observer/filing/0000866291-23-000012

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