---
schema_version: "secwatch.filing_event.v1"
accession: "0000950103-25-009762"
form_type: "8-K"
ticker: "HNI"
cik: "0000048287"
company_name: "HNI CORP"
filed_at: "2025-08-04T23:59:59+00:00"
generated_at: "2026-05-17T21:38:46.490890+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# HNI Corp to acquire Steelcase Inc. for $7.20 cash plus 0.2192 shares per Steelcase share

## Summary
- Merger consideration per Steelcase share: mixed of 0.2192 HNI shares + $7.20 cash, or all cash, or all stock.
- HNI secured $1.1B bridge loan from JPMorgan and Wells Fargo to fund cash consideration and refinance debt.
- Termination fees: Steelcase pays $67M; HNI pays $71M or $134M in specified termination scenarios.
- Voting agreements with Pew, Taylor, Niemann cover ~5% of Steelcase shares post conversion of Class B to Class A.
- Steelcase Class B common stock to be converted to Class A within 10 business days under Pew Voting Agreement.

## SEC filing metadata
- accession: 0000950103-25-009762
- form_type: 8-K
- ticker: HNI
- cik: 0000048287
- company_name: HNI CORP
- filed_at: 2025-08-04T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 8.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/48287/000095010325009762/0000950103-25-009762-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/48287/000095010325009762/dp232552_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950103-25-009762
- JSON: https://secwatch.observer/filing/0000950103-25-009762.json
- Plain text: https://secwatch.observer/filing/0000950103-25-009762.txt

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