secwatch.observer — SEC 8-K summary
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Issuer:     FIRST HORIZON CORP (FHN)
CIK:        0000036966
Form:       8-K
Filed at:   2022-03-03T23:59:59+00:00
Accession:  0000930413-22-000427
Event type: m_and_a
Sentiment:  positive
Materiality: 1.00
Item codes: 1.01, 3.02, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

First Horizon to be acquired by TD Bank for $25.00/share cash; termination fee $435.5M
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- Each share of FHN common stock to receive $25.00 in cash; consideration increases $0.0017808/day after Nov 27, 2022.
- Termination fee of $435.5M payable by FHN under certain circumstances; $25M expense reimbursement also provided.
- FHN issued ~$493.6M of Series G convertible preferred stock to TD in private placement.
- Merger subject to FHN shareholder approval, regulatory approvals (Fed, OCC, OSFI, etc.), and no legal restraint.
- Preferred stock series B-F remain outstanding; equity awards treated as per agreement.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/36966/000093041322000427/0000930413-22-000427-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/36966/000093041322000427/c103158_8k-ixbrl.htm
  HTML page:      https://secwatch.observer/filing/0000930413-22-000427

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