secwatch.observer — SEC 8-K summary
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Issuer:     Arconic Corp (—)
CIK:        0001790982
Form:       8-K
Filed at:   2023-08-18T23:59:59+00:00
Accession:  0001140361-23-040367
Event type: m_and_a
Sentiment:  neutral
Materiality: 1.00
Item codes: 1.01, 1.02, 2.01, 2.03, 3.01, 3.03, 5.01, 5.03, 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Apollo Funds complete $30/share acquisition of Arconic; stock delisted from NYSE
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- Shareholders receive $30.00 per share in cash for each Arconic share held.
- New financing raised: $700M 8% senior secured notes due 2030, $500M 11.5% senior notes due 2031, $1.425B term loan, $1.2B ABL facility.
- All prior directors resigned; Marcelo Morgueta appointed to board; company now wholly owned by Apollo affiliate.
- Arconic common stock ceased trading on NYSE and will be deregistered.
- Minority investment from Irenic Capital Management alongside Apollo Funds.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1790982/000114036123040367/0001140361-23-040367-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1790982/000114036123040367/brhc20057664_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-23-040367

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