HNI completes acquisition of Steelcase; combined revenue $5.8B

HNI CORP

HNI completes acquisition of Steelcase; combined pro forma annual revenues of $5.8B.
Steelcase shareholders received $7.20 cash and 0.2192 HNI shares (or alternative mix) per share.
HNI issued $350.979M in 5.125% Senior Secured Notes due 2029 for Steelcase’s notes.
HNI added $500M TLB facility and reduced Term Loan A from $500M to $350M to fund merger.
HNI board expanded to 12; added former Steelcase directors Timothy C.E. Brown and Linda K. Williams.

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