SANMINA CORP (SANM): M&A transaction — Sanmina completes $2.55B acquisition of ZT Systems from AMD; funds with $2.2B in new debt

SANMINA CORP

Total consideration: $2.4B cash + 1,151,052 Sanmina shares (~$150M) + up to $450M contingent earn-out.
Funded by $1.4B Term Loan A and $800M Term Loan B drawn under amended $3.5B credit agreement.
ZT Systems is a provider of AI and general-purpose compute infrastructure for hyperscale customers.
Previous $1.5B revolving / $2.0B term loan A credit agreement refinanced and terminated upon closing.
Contingent consideration up to $450M payable if certain financial metrics achieved over three years post-close.

item 1.01 item 2.01 item 1.02 item 2.03 item 3.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

SANMINA CORP incurred term loan of $1.4 billion in borrowings under the Term Loan A Facility at a term SOFR-based rate plus an applicable margin or (b) a base rate plus an appl.

Instrument: term loan
Principal: $1.4 billion in borrowings under the Term Loan A Facility
Rate: a term SOFR-based rate plus an applicable margin or (b) a base rate plus an appl
Event: incurrence

Exact text from the filing

the Company incurred indebtedness under the Credit Agreement as follows: (i) $1.4 billion in borrowings under the Term Loan A Facility and (ii) $800 million in borrowings under the Term Loan B Facility.

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M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

SANMINA CORP completed an acquisition involving AMD Design, LLC for cash consideration of $2.4 billion and 1,151,052 shares of Sanmina common stock representing an aggregate value of $150 million (closed 2025-10-27).

Action: acquisition
Counterparty: AMD Design, LLC
Consideration: cash consideration of $2.4 billion and 1,151,052 shares of Sanmina common stock representing an aggregate value of $150 million
Closing: 2025-10-27

Exact text from the filing

there are no material relationships between Sanmina and the Seller or its affiliates. The aggregate consideration payable at closing consisted of (i) cash consideration of $2.4 billion, subject to adjustments for closing cash, closing indebtedness, closing expenses and net working capital relative to a target amount as provided in the Purchase Agreement and

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SANMINA CORP filing history →

Source: SEC EDGAR

accession 0001104659-25-104927

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