Snap One to be acquired by Resideo for $10.75/share in cash; stockholder consent obtained

Snap One Holdings Corp.

Holders of ~72% of outstanding shares delivered written consent to approve the merger.
Transaction is not subject to any financing condition; closing expected by Oct 15, 2024 (extendable to Jan 15, 2025).
Resideo obtained equity and debt financing commitments to pay the aggregate merger consideration and related fees.
Retention bonuses approved for CEO ($1.8375M), CFO ($1.28625M), and GPaul Hess ($730,750) payable six months post-closing.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Snap One Holdings Corp. entered into Agreement and Plan of Merger with Resideo Technologies, Inc. valued at $10.75 per share (effective 2024-04-14).

Action: entry
Agreement: merger
Counterparty: Resideo Technologies, Inc.
Value: $10.75 per share
Effective: 2024-04-14

Exact text from the filing

On April 14, 2024, Snap One Holdings Corp., a Delaware corporation (“Snap One”), entered into an Agreement and Plan of Merger (the “Merger Agreement”), with Resideo Technologies, Inc., a Delaware corporation (“Resideo”), and Pop Acquisition Inc., a Delaware corporation and a wholly owned subsidiary of Resideo (“Merger Sub”), pursuant to which, subject to the terms and conditions of the Merger Agreement, Merger Sub will merge with and into Snap One, with Snap One continuing as the surviving corporation (the “Surviving Corporation”) and a wholly owned subsidiary of Resideo (the “Merger”).

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Source: SEC EDGAR

accession 0001104659-24-048837

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