secwatch.observer — SEC 8-K summary
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Issuer:     PROGRESS SOFTWARE CORP /MA (PRGS)
CIK:        0000876167
Form:       8-K/A
Filed at:   2025-03-31T23:59:59+00:00
Accession:  0000876167-25-000053
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Progress Software updates pro forma financials for ShareFile acquisition, showing reduced EPS
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- Pro forma FY2024 revenue $978.8M, net income $35.7M, diluted EPS $0.80.
- Acquisition closed Oct 31, 2024 for $852.7M cash, funded by $730M credit facility.
- Pro forma adjustments: $60.8M additional amortization on intangibles (7-yr life).
- $44.7M incremental interest expense at 6.7% borrowing rate.
- Historical Progress net income was $68.4M ($1.54 diluted EPS) before acquisition.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/876167/000087616725000053/0000876167-25-000053-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/876167/000087616725000053/prgs-20241031.htm
  HTML page:      https://secwatch.observer/filing/0000876167-25-000053

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer