secwatch.observer — SEC 8-K summary
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Issuer:     Alcoa Corp (AA)
CIK:        0001675149
Form:       8-K
Filed at:   2024-07-08T23:59:59+00:00
Accession:  0000950103-24-009727
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

Alcoa adds standalone financial projections to proxy for Alumina deal amid litigation
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- Alcoa standalone 2024E revenue $9,566M, adj. EBITDA $570M, unlevered FCF ($580)M.
- Alumina Limited standalone 2024E revenue $1,830M, adj. EBITDA $91M, unlevered FCF ($189)M.
- J.P. Morgan DCF implies Alcoa equity $22.35-$28.50/share vs. $29.85 close; Alumina $0.70-$0.90 vs. $0.81.
- Two stockholder lawsuits and eight demand letters allege insufficient proxy disclosures; Alcoa supplements proxy.
- UBS was engaged Oct. 18, 2023 as financial advisor to Alcoa board for the transaction.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1675149/000095010324009727/0000950103-24-009727-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1675149/000095010324009727/dp214237_8k.htm
  HTML page:      https://secwatch.observer/filing/0000950103-24-009727

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