secwatch.observer — SEC 8-K summary
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Issuer:     UPBOUND GROUP, INC. (UPBD)
CIK:        0000933036
Form:       8-K
Filed at:   2024-12-12T23:59:59+00:00
Accession:  0001104659-24-128068
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Upbound to acquire Brigit for up to $460M in cash and stock, expected to close by April 2025
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- Total consideration: $243.75M cash at close, $81.25M in stock (or cash), $75M deferred over 2 years, up to $60M earnout.
- Brigit has ~2M monthly active customers; expected 2025 revenue of $215-230M and 2026 revenue of $350-400M.
- Deal expected to be accretive to Adj. EBITDA by $25-30M in 2025 and $70-80M in 2026.
- Brigit co-founders to receive restricted stock vesting over 2 years; employment agreements become effective at closing.
- Merger conditions include HSR clearance and other regulatory approvals; termination date April 1, 2025.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/933036/000110465924128068/0001104659-24-128068-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/933036/000110465924128068/tm2430553d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-128068

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