secwatch.observer — SEC 8-K summary
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Issuer:     AVIENT CORP (AVNT)
CIK:        0001122976
Form:       8-K
Filed at:   2022-11-07T23:59:59+00:00
Accession:  0001122976-22-000072
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Avient completes sale of Distribution business to H.I.G. Capital affiliate for $950M cash
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- Sale closed Nov 1, 2022; proceeds $950M in cash, subject to working capital adjustment.
- After-tax proceeds used to redeem $600M of 5.25% Senior Notes due 2023 and repay $150M term loans.
- Expected pre-tax gain of ~$700M, classified in discontinued operations.
- Pro forma financials provided; Distribution business revenues eliminated from continuing ops for 2019-2021 periods.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1122976/000112297622000072/0001122976-22-000072-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1122976/000112297622000072/avnt-20221101.htm
  HTML page:      https://secwatch.observer/filing/0001122976-22-000072

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