secwatch.observer — SEC 8-K summary
======================================

Issuer:     GRIFFON CORP (GFF)
CIK:        0000050725
Form:       8-K
Filed at:   2026-06-11T18:27:39+00:00
Accession:  0000930413-26-001842
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Griffon closes JV of AMES NA with Venanpri, gets $100M cash + $161M loans; sells AMES Australasia for $185M + $50M note
--------------------------------------------------------------------------------

- Closed JV of AMES North America with Venanpri Tools (ONCAP); receives $100M cash, $161.1M 10% PIK second-lien loans due 2029, and 42.78% equity stake.
- Entered SSA to sell AMES Australasia to management-led group for $185M cash and $50M subordinated note; retains 49% equity in new JV.
- Second-lien loans have 10% PIK interest, no amortization; financial covenants include max total leverage of 4.90x stepping down to 4.30x.
- Joint press release names combined North America JV 'Veritage Brands'; Australasia JV buyer led by Simon Hupfeld as Executive Chairman.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/50725/000093041326001842/0000930413-26-001842-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/50725/000093041326001842/c116668_8k-ixbrl.htm
  HTML page:      https://secwatch.observer/filing/0000930413-26-001842

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