secwatch.observer — SEC 8-K summary
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Issuer:     RB GLOBAL INC. (RBA)
CIK:        0001046102
Form:       8-K
Filed at:   2023-01-23T23:59:59+00:00
Accession:  0001104659-23-005848
Event type: other_material
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 3.02, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ritchie Bros. enters $500M PIPE with Starboard; board seat if merger approved
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- Starboard Value invests $485M in 5.50% Series A convertible preferred shares and $15M in common shares at $59.722/share.
- Preferred shares convertible at 0.0136986 common per $1.00; dividend rate steps up to 7.50% after 4 years.
- Upon RBA-IAA merger approval, board expands to 10 and Starboard's Jeffrey C. Smith appointed as director.
- Starboard agrees to standstill, voting support, and transfer restrictions through one year post-issuance.
- Closing conditioned on NYSE and TSX approvals; expected January 25, 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1046102/000110465923005848/0001104659-23-005848-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1046102/000110465923005848/tm234150d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-005848

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