8-K/A filed September 15, 2023, 7:59 PM ET ticker ISSC CIK 0000836690

M&A confidence high sentiment neutral materiality 0.60

INNOVATIVE SOLUTIONS & SUPPORT INC (ISSC): M&A transaction — ISSC completes $36M acquisition of Honeywell inertial/nav product lines; posts historicals

INNOVATIVE SOLUTIONS & SUPPORT INC

Acquired product lines had net sales of $21.5M in 2022 and $8.9M in H1 2023.
Net sales minus direct costs were $9.55M (2022) and $4.83M (H1 2023).
Assets acquired as of June 30, 2023: $9.1M inventory, $1.5M equipment; total $10.6M.
Transaction closed June 30, 2023 for $36M cash; pro forma combined statements included.
Filing corrects auditor report date to Sept 14, 2023 and adds signed consent.

item 9.01 item 2.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

INNOVATIVE SOLUTIONS & SUPPORT INC completed an acquisition involving Honeywell International Inc. (closed 2023-06-30).

Action: acquisition
Counterparty: Honeywell International Inc.
Closing: 2023-06-30

Exact text from the filing

On July 7, 2023, Innovative Solutions and Support, Inc. (the " Compan y") filed a Current Report on Form 8-K reporting that on June 30, 2023 the Company entered into and closed the transactions contemplated by that certain Asset Purchase and License Agreement with Honeywell International Inc. (" Hone y well "), pursuant to which Honeywell sold, assigned or licensed certain assets related to its legacy inertial, communication and navigation product lines (the " Acquired Business ").

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Source: SEC EDGAR

accession 0001104659-23-100920

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