secwatch.observer — SEC 8-K summary
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Issuer:     Alight, Inc. / Delaware (ALIT)
CIK:        0001809104
Form:       8-K
Filed at:   2024-07-18T23:59:59+00:00
Accession:  0000950170-24-084440
Event type: m_and_a
Sentiment:  positive
Materiality: 0.90
Item codes: 2.01, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Alight closes $1.2B sale of Payroll & Professional Services to H.I.G. Capital
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- Up to $1.2B total: $1B cash at close, $50M seller note, up to $150M contingent note tied to 2025 targets.
- Net proceeds primarily to reduce debt, targeting pro forma net leverage below 3x.
- COO Katie Rooney departed July 12; entitlement to post-employment payments per agreement.
- Special cash awards: CFO Heaton $750k, CLO Felli $750k, President Goff $800k for transaction efforts.
- Q2 continuing business revenue/EBITDA expected in-line; divested business slightly below expectations.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1809104/000095017024084440/0000950170-24-084440-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1809104/000095017024084440/alit-20240712.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-084440

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