secwatch.observer — SEC 8-K summary
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Issuer:     CIRRUS LOGIC, INC. (CRUS)
CIK:        0000772406
Form:       8-K
Filed at:   2021-07-08T23:59:59+00:00
Accession:  0001157523-21-000849
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cirrus Logic to buy Lion Semiconductor for $335M cash; secures $300M credit line
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- Cirrus Logic to acquire Lion Semiconductor for $335M cash; close in fiscal Q2 2021.
- Merger consideration subject to adjustments for cash, debt, net working capital, and holdback.
- New $300M senior secured revolver with Wells Fargo replaces existing credit; matures July 2026.
- Credit facility pricing: LIBOR + 1.00%-1.75% based on leverage; commitment fee 0.175%-0.275%.
- Merger requires Lion stockholder approval; termination date August 19, 2021.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/772406/000115752321000849/0001157523-21-000849-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/772406/000115752321000849/a52456798.htm
  HTML page:      https://secwatch.observer/filing/0001157523-21-000849

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