---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-022621"
form_type: "8-K"
ticker: "FA"
cik: "0001210677"
company_name: "FIRST ADVANTAGE CORP"
filed_at: "2024-02-29T23:59:59+00:00"
generated_at: "2026-06-05T06:12:38.632729+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.92
calibrated_materiality_score: 0.92
confidence: "high"
source: SEC EDGAR
---

# First Advantage to buy Sterling Check for $2.2B; posts Q4/FY23 results

## Summary
- Acquisition valued at $2.2B inclusive of Sterling debt; $16.73/share cash or 0.979 FA shares, a 35% premium to Sterling's Feb 28 close.
- Expected close ~Q3 2024; at least $50M in run-rate synergies with double-digit Adjusted EPS accretion on a synergy basis.
- FY23 revenue $763.8M (-5.7% YoY); adjusted diluted EPS $1.00; Q4 adjusted EBITDA $68.2M (margin 33.7%).
- Standalone FY24 guidance: revenue $750M-$800M, adjusted EBITDA $228M-$248M, adjusted EPS $0.88-$0.98.
- Share repurchase program suspended due to pending acquisition; ended FY23 with $213.8M cash and $564.7M debt.

## SEC filing metadata
- accession: 0000950170-24-022621
- form_type: 8-K
- ticker: FA
- cik: 0001210677
- company_name: FIRST ADVANTAGE CORP
- filed_at: 2024-02-29T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.92
- calibrated_materiality_score: 0.92
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1210677/000095017024022621/0000950170-24-022621-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1210677/000095017024022621/fa-20240229.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-022621
- JSON: https://secwatch.observer/filing/0000950170-24-022621.json
- Plain text: https://secwatch.observer/filing/0000950170-24-022621.txt

## Key facts
- Earnings Releases
  FIRST ADVANTAGE CORP reported financial results for quarter and year ended December 31, 2023.
  - Period: quarter and year ended December 31, 2023
  - Result: reported results
  source text: On February 29, 2024, First Advantage Corporation (“First Advantage”) issued a press release announcing its financial results for the quarter and year ended December 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1210677/000095017024022621/0000950170-24-022621-index.htm

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