secwatch.observer — SEC 8-K summary
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Issuer:     PFSWEB INC (—)
CIK:        0001095315
Form:       8-K
Filed at:   2023-10-23T23:59:59+00:00
Accession:  0001095315-23-000070
Event type: m_and_a
Sentiment:  neutral
Materiality: 1.00
Item codes: 1.01, 2.01, 3.01, 3.03, 5.01, 5.02, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PFSweb acquired by GXO Logistics for $7.50/share; delisting from Nasdaq to follow
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- Aggregate consideration ~$170.8M; each share converted to $7.50 cash without interest.
- Tender offer expired Oct 20, 2023; 19.8M shares tendered (86.9% of outstanding); merger completed Oct 23 under DGCL 251(h).
- All directors resigned; Kirsis and Naqvi appointed; CEO Willoughby and CFO Madden terminated with severance.
- Company requests delisting from Nasdaq and deregistration under Exchange Act.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1095315/000109531523000070/0001095315-23-000070-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1095315/000109531523000070/pfsw-20231020.htm
  HTML page:      https://secwatch.observer/filing/0001095315-23-000070

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