secwatch.observer — SEC 8-K summary
======================================

Issuer:     RBC Bearings INC (RBC)
CIK:        0001324948
Form:       8-K
Filed at:   2021-09-24T23:59:59+00:00
Accession:  0001104659-21-119176
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 3.03, 5.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

RBC Bearings issues $460M mandatory convertible preferred and 3.45M common shares for Dodge acquisition
--------------------------------------------------------------------------------

- Issued 4.6M shares of 5.00% Series A Mandatory Convertible Preferred Stock at $100 liquidation preference, raising $460M.
- Issued 3.45M shares of common stock in a public offering, including 450K shares from over-allotment option.
- Credit agreement amended to permit up to $600M in senior unsecured notes and $1.15B in mandatory convertible preferred stock.
- Proceeds will fund pending acquisition of ABB's Dodge Mechanical Power Transmission business and related fees.
- If Dodge acquisition does not close by Jan 26, 2022, mandatory convertible preferred stock may be redeemed.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1324948/000110465921119176/0001104659-21-119176-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1324948/000110465921119176/tm2127414d17_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-21-119176

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer