secwatch.observer — SEC 8-K summary
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Issuer:     Atmus Filtration Technologies Inc. (ATMU)
CIK:        0001921963
Form:       8-K
Filed at:   2023-06-01T23:59:59+00:00
Accession:  0001104659-23-066843
Event type: other_material
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 2.03, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Atmus completes IPO of 16.24M shares at $19.50; Cummins retains 80.5% stake
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- IPO of 16,243,070 shares (incl. full underwriter option) at $19.50/share; net proceeds received by Debt-for-Equity Exchange Parties to repay Cummins short-term debt.
- Cummins owns ~80.5% of outstanding Atmus common stock after the offering.
- Atmus borrowed $600M under term loan and $50M under revolving credit facility (both mature Sept 2027) as partial consideration for filtration business.
- Separation agreement signed with Cummins covering asset transfer, supply, tax, IP, employee matters, and registration rights.
- Atmus Board adopted 2022 Omnibus Incentive Plan effective May 30, 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1921963/000110465923066843/0001104659-23-066843-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1921963/000110465923066843/tm2317350d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-066843

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