secwatch.observer — SEC 8-K summary
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Issuer:     Simply Good Foods Co (SMPL)
CIK:        0001702744
Form:       8-K
Filed at:   2024-06-17T23:59:59+00:00
Accession:  0001104659-24-072273
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Simply Good Foods completes $280M acquisition of plant-based RTD shake brand OWYN
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- Acquired 100% of OWYN for $280M in cash, funded by $250M incremental term loan and balance sheet cash.
- OWYN expected to generate ~$120M net sales in calendar 2024; fastest-growing RTD protein shake brand.
- Targeting net debt to Adjusted EBITDA ratio of ~1.25x by fiscal year-end August 2024.
- Base business (ex-OWYN) on track with prior FY2024 outlook; full-year guidance update on June 27 earnings call.
- Total term loan debt of $490M post-close; incremental portion priced at par with SOFR+2.75% all-in margin.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1702744/000110465924072273/0001104659-24-072273-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1702744/000110465924072273/tm2417264d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-072273

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