secwatch.observer — SEC 8-K summary
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Issuer:     PAR TECHNOLOGY CORP (PAR)
CIK:        0000708821
Form:       8-K
Filed at:   2024-03-11T23:59:59+00:00
Accession:  0001140361-24-012497
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 2.01, 3.02, 7.01
LLM model:  deepseek-v4-flash:cloud@v2

PAR Tech acquires Stuzo for ~$190M, agrees to buy TASK Group for ~$206M; raises $200M in private placement
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- Completed acquisition of Stuzo for ~$190M ($170M cash + 441,598 PAR shares); Stuzo serves convenience store and fuel retailer market.
- Entered agreement to acquire TASK Group for implied ~$206M (AUD$0.81 cash or 0.015 PAR shares per TASK share); close expected Q3 2024.
- Raised ~$200M via private placement of 5.17M shares at $38.65/sh from T. Rowe Price, ADW Capital, Voss Capital, and others.
- Acquisitions expected to add over $80M in ARR and over $20M in Adjusted EBITDA based on trailing twelve-month actuals.
- TASK acquisition subject to shareholder, court, and regulatory approvals; termination fee of AUD$1.3M each way applies.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/708821/000114036124012497/0001140361-24-012497-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/708821/000114036124012497/ef20023784_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-24-012497

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