secwatch.observer — SEC 8-K summary
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Issuer:     Veritiv Corp (—)
CIK:        0001599489
Form:       8-K
Filed at:   2023-11-30T23:59:59+00:00
Accession:  0001104659-23-122267
Event type: m_and_a
Sentiment:  neutral
Materiality: 1.00
Item codes: 1.01, 1.02, 2.01, 2.03, 3.01, 3.03, 5.01, 5.02, 5.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CD&R completes acquisition of Veritiv for $170/share; company goes private
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- Each share of Veritiv common stock acquired for $170 cash; total stockholder consideration ~$2.3 billion.
- Veritiv becomes privately held; common stock delisted from NYSE effective Nov 30, 2023.
- New debt financing: $600M term loan (SOFR+4.5%), $700M 10.5% senior secured notes due 2030, $825M ABL facility.
- Pre-merger board resigned; new board includes Rob Volpe (CD&R), Sal Abbate, Eric Guerin, Susan Salyer.
- Prior ABL credit agreement with Bank of America terminated at closing.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1599489/000110465923122267/0001104659-23-122267-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1599489/000110465923122267/tm2331772d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-122267

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