---
schema_version: "secwatch.filing_event.v1"
accession: "0000950103-24-011378"
form_type: "8-K"
ticker: "AA"
cik: "0001675149"
company_name: "Alcoa Corp"
filed_at: "2024-08-01T23:59:59+00:00"
generated_at: "2026-05-31T13:51:55.534125+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Alcoa completes acquisition of Alumina Limited for ~$2.8B in all-stock deal

## Summary
- Implied equity value ~$2.8B based on 0.02854 Alcoa shares per Alumina share (closing price July 26).
- Alcoa issued 78.8M common shares and 4.04M non-voting convertible preferred shares to Alumina holders.
- Alcoa now fully owns AWAC (bauxite and alumina assets); expects synergies from simplified governance.
- Alumina had $385M drawn under its $500M revolving credit facility, which Alcoa assumes.
- Board expanded to 12; appointed John Bevan and Alistair Field (former Alumina directors) effective Aug 1.

## SEC filing metadata
- accession: 0000950103-24-011378
- form_type: 8-K
- ticker: AA
- cik: 0001675149
- company_name: Alcoa Corp
- filed_at: 2024-08-01T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 2.01, 2.03, 3.02, 3.03, 5.02, 5.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1675149/000095010324011378/0000950103-24-011378-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1675149/000095010324011378/dp215750_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950103-24-011378
- JSON: https://secwatch.observer/filing/0000950103-24-011378.json
- Plain text: https://secwatch.observer/filing/0000950103-24-011378.txt

## Key facts
- Executive change
  Alistair Field was appointed as Director at Alcoa Corp.
  - Action: appointed
  - Role: Director
  source text: On July 31, 2024 and in connection with the Transaction, the Board increased the size of the Board from ten to twelve directors and appointed John Bevan and Alistair Field (the “ New Alcoa Directors ”), who were directors of Alumina Limited prior to the consummation of the Transaction, as additional members of the Board, effective as of 5:00 p.m. on August 1, 2024 (the “ Effective Date ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1675149/000095010324011378/0000950103-24-011378-index.htm
- Executive change
  John Bevan was appointed as Director at Alcoa Corp.
  - Action: appointed
  - Role: Director
  source text: On July 31, 2024 and in connection with the Transaction, the Board increased the size of the Board from ten to twelve directors and appointed John Bevan and Alistair Field (the “ New Alcoa Directors ”), who were directors of Alumina Limited prior to the consummation of the Transaction, as additional members of the Board, effective as of 5:00 p.m. on August 1, 2024 (the “ Effective Date ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1675149/000095010324011378/0000950103-24-011378-index.htm
- M&A Transactions
  Alcoa Corp completed an acquisition involving Alumina Limited for all-scrip, or all-stock, transaction, Alumina shareholders received consideration of 0.02854 Alcoa shares for each Alumina share; equity value of approximately (closed 2024-08-01).
  - Action: acquisition
  - Counterparty: Alumina Limited
  - Consideration: all-scrip, or all-stock, transaction, Alumina shareholders received consideration of 0.02854 Alcoa shares for each Alumina share; equity value of approximately
  - Closing: 2024-08-01
  source text: y shares and an indirect wholly owned subsidiary of Alcoa (“ Alcoa Bidder ”), and Alumina Limited, an Australian public company limited by shares and listed on the Australian Securities Exchange (“ Alumina Limited ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1675149/000095010324011378/0000950103-24-011378-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.