secwatch.observer — SEC 8-K summary
======================================

Issuer:     BERRY GLOBAL GROUP, INC. (—)
CIK:        0001378992
Form:       8-K
Filed at:   2024-11-04T23:59:59+00:00
Accession:  0001104659-24-113965
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.01, 2.03, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Berry completes spin-off and merger of HHNF business with Glatfelter to form Magnera
--------------------------------------------------------------------------------

- Berry distributed one share of Spinco common stock per BERY share held as of Nov 1, 2024; then Spinco merged with Glatfelter subsidiary.
- Magnera (NYSE: MAGN) begins trading Nov 5; Berry holders receive 0.276305 MAGN shares per BERY share, owning ~90% of Magnera fully diluted.
- Magnera assumed $785M term loan facility (7-year) and $350M revolving credit facility; also $800M of 7.250% senior secured notes due 2031.
- Rick Rickertsen resigned from Berry board effective Nov 4 to serve on Magnera board.
- Berry retains consumer-focused packaging business; HHNF transfer solidifies portfolio focus on packaging solutions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1378992/000110465924113965/0001104659-24-113965-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1378992/000110465924113965/tm2427366d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-113965

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer