HNI receives 77.83% consent from Steelcase note holders for exchange offer related to pending acquisition

HNI CORP

Holders representing 77.83% ($350.2M) of Steelcase's 5.125% Notes due 2029 tendered and consented by early deadline.
Consents sufficient to amend Steelcase indenture to eliminate certain covenants; supplemental indenture executed.
Early tender consideration: $1,000 principal of new HNI notes per $1,000 old notes plus $2.50 cash consent payment.
Late tenders receive $970 principal of new HNI notes; expiration is Oct. 27, 2025; settlement within 5 business days.
Exchange offer is a condition to HNI's pending acquisition of Steelcase; HNI may extend expiration if acquisition not yet closable.

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