8-K
filed July 21, 2021, 7:59 PM ET
ticker HLLY
CIK 0001822928
M&A
confidence high
sentiment neutral
materiality 0.80
Holley Inc. (formerly Empower Ltd.) completes business combination with Holley Intermediate; begins trading as HLLY
Holley Inc.
- Closing on July 16, 2021; Holley Intermediate shareholders received $264.7M cash + 67,673,884 shares at $10.00 per share.
- PIPE financing raised $240M (24M shares at $10.00 each) and A&R FPA added $50M (5M units at $10.00 each).
- Post-closing shares outstanding: 117,993,139 common shares, 10M public warrants ($11.50 strike), and 4,666,667 private warrants ($11.50 strike).
- New executive employment agreements: CEO Tomlinson base salary $500K, target bonus 100%; other executives base salaries and bonuses set.
- Incentive Plan approved; initial option grants to seven executives totaling ~1.25M shares, vesting over 3 years.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Matthew Rubel resigned as Officer at Holley Inc..
- Action
- resigned
- Role
- Officer
Exact text from the filing
In connection with the Closing, Graham Clempson, Krishnan Anand, Jeffrey Jones and Beth Kaplan resigned as directors of Empower and Matthew Rubel, Graham Clempson and Andrew Spring resigned as officers of Empower and its subsidiaries.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Jeffrey Jones resigned as Director at Holley Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
In connection with the Closing, Graham Clempson, Krishnan Anand, Jeffrey Jones and Beth Kaplan resigned as directors of Empower and Matthew Rubel, Graham Clempson and Andrew Spring resigned as officers of Empower and its subsidiaries.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Andrew Spring resigned as Officer at Holley Inc..
- Action
- resigned
- Role
- Officer
Exact text from the filing
In connection with the Closing, Graham Clempson, Krishnan Anand, Jeffrey Jones and Beth Kaplan resigned as directors of Empower and Matthew Rubel, Graham Clempson and Andrew Spring resigned as officers of Empower and its subsidiaries.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Graham Clempson resigned as Director at Holley Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
In connection with the Closing, Graham Clempson, Krishnan Anand, Jeffrey Jones and Beth Kaplan resigned as directors of Empower and Matthew Rubel, Graham Clempson and Andrew Spring resigned as officers of Empower and its subsidiaries.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Krishnan Anand resigned as Director at Holley Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
In connection with the Closing, Graham Clempson, Krishnan Anand, Jeffrey Jones and Beth Kaplan resigned as directors of Empower and Matthew Rubel, Graham Clempson and Andrew Spring resigned as officers of Empower and its subsidiaries.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Beth Kaplan resigned as Director at Holley Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
In connection with the Closing, Graham Clempson, Krishnan Anand, Jeffrey Jones and Beth Kaplan resigned as directors of Empower and Matthew Rubel, Graham Clempson and Andrew Spring resigned as officers of Empower and its subsidiaries.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Graham Clempson resigned as Officer at Holley Inc..
- Action
- resigned
- Role
- Officer
Exact text from the filing
In connection with the Closing, Graham Clempson, Krishnan Anand, Jeffrey Jones and Beth Kaplan resigned as directors of Empower and Matthew Rubel, Graham Clempson and Andrew Spring resigned as officers of Empower and its subsidiaries.
View on SEC.gov
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