Herman Miller completes Knoll acquisition; combined company renamed MillerKnoll

MILLERKNOLL, INC.

Knoll shareholders received 0.32 Herman Miller shares + $11 cash per share; Herman Miller shareholders own ~78% of combined co.
New credit facility of $1.75B entered: $400M Term Loan A, $625M Term Loan B, $725M revolver; used to fund acquisition & repay existing debt.
Combined company (MillerKnoll) includes 19 brands, 64 showrooms, 50+ retail locations, eCommerce capabilities.
Herman Miller CEO Andi Owen leads combined company; formal name change to MillerKnoll to be voted at annual meeting.

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