---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-104927"
form_type: "8-K"
ticker: "SANM"
cik: "0000897723"
company_name: "SANMINA CORP"
filed_at: "2025-10-31T23:59:59+00:00"
generated_at: "2026-05-17T01:11:37.016332+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Sanmina completes $2.55B acquisition of ZT Systems from AMD; funds with $2.2B in new debt

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-25-104927
- form_type: 8-K
- ticker: SANM
- cik: 0000897723
- company_name: SANMINA CORP
- filed_at: 2025-10-31T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 2.01, 1.02, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/897723/000110465925104927/0001104659-25-104927-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/897723/000110465925104927/tm2529655d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-104927
- JSON: https://secwatch.observer/filing/0001104659-25-104927.json
- Plain text: https://secwatch.observer/filing/0001104659-25-104927.txt

## Source-grounded claims
- claim_id: d797cc266b1c6c143ebc96cc9e42ace26008f089
  claim: 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.
  evidence_excerpt: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/897723/000110465925104927/0001104659-25-104927-index.htm
- claim_id: e7535177c6009a0633705e8235877419fb283bcd
  claim: 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).
  evidence_excerpt: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/897723/000110465925104927/0001104659-25-104927-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.