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

Issuer:     ALLEGRO MICROSYSTEMS, INC. (ALGM)
CIK:        0000866291
Form:       8-K
Filed at:   2024-07-23T23:59:59+00:00
Accession:  0000950103-24-010519
Event type: other_material
Sentiment:  negative
Materiality: 0.85
Item codes: 1.01, 2.02, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Allegro to repurchase 38.8M shares from Sanken at offering price; prelim Q1 GAAP net loss $17.7M
--------------------------------------------------------------------------------

- Repurchases 38,767,315 shares from Sanken at the equity offering price; Sanken's stake to fall to ~33.2% (or 32.5% if underwriter option exercised).
- Preliminary Q1 net sales $167M ±$1M; GAAP net loss $17.7M ±$1M; GAAP diluted EPS $(0.10)-(0.09).
- Non-GAAP net income $6M ±$1M, diluted EPS $0.02-$0.03; adjusted EBITDA $22M ±$1M.
- Director Koji Hatano resigns effective first closing of the repurchase.
- Credit agreement to be amended to add incremental term loans and increase revolving commitments by $32M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/866291/000095010324010519/0000950103-24-010519-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/866291/000095010324010519/dp214872_8k.htm
  HTML page:      https://secwatch.observer/filing/0000950103-24-010519

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