---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-023541"
form_type: "8-K"
ticker: "FA"
cik: "0001210677"
company_name: "FIRST ADVANTAGE CORP"
filed_at: "2024-03-01T23:59:59+00:00"
generated_at: "2026-06-05T05:18:17.525425+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# First Advantage to acquire Sterling Check; $16.73 cash or 0.979 FA shares per share, 72% cash/28% stock proration

## Summary
- Specified stockholders owning 52.8% of Sterling delivered written consent; no further stockholder vote required.
- Expected closing Q3 2024, subject to HSR, foreign investment clearances, and other customary conditions.
- First Advantage secured $1.82B incremental term loan and $150M revolver commitment to finance the deal.
- Termination fees: $66.3M from Sterling for superior proposal; $60M/$90M from FA if antitrust fails; $100M if FA fails to close.
- Joshua Peirez, Sterling CEO, to be offered a seat on First Advantage's board at closing.

## SEC filing metadata
- accession: 0000950170-24-023541
- form_type: 8-K
- ticker: FA
- cik: 0001210677
- company_name: FIRST ADVANTAGE CORP
- filed_at: 2024-03-01T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1210677/000095017024023541/0000950170-24-023541-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1210677/000095017024023541/fa-20240228.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-023541
- JSON: https://secwatch.observer/filing/0000950170-24-023541.json
- Plain text: https://secwatch.observer/filing/0000950170-24-023541.txt

## Key facts
- Material Agreements
  FIRST ADVANTAGE CORP entered into Agreement and Plan of Merger with Sterling Check Corp. (effective 2024-02-28).
  - Action: entry
  - Agreement: merger
  - Counterparty: Sterling Check Corp.
  - Effective: 2024-02-28
  source text: on February 28, 2024, First Advantage Corporation, a Delaware corporation (the “Company” or “First Advantage”), entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Sterling Check Corp., a Delaware corporation (“Sterling”), and Starter Merger Sub, Inc., a Delaware corporation and an indirect wholly-owned subsidiary of First Advantage (“Merger Sub”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1210677/000095017024023541/0000950170-24-023541-index.htm

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