secwatch.observer — SEC 8-K summary
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Issuer:     ADVANCED DRAINAGE SYSTEMS, INC. (WMS)
CIK:        0001604028
Form:       8-K
Filed at:   2021-08-20T23:59:59+00:00
Accession:  0001193125-21-251963
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Advanced Drainage Systems enters shareholder agreement with CPPIB after 3.1M share purchase from Chlapaty trust
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- CPPIB purchased 3.1M shares from Joseph Chlapaty trust; company received no proceeds.
- Shareholder Agreement imposes transfer restrictions and standstill obligations on CPPIB's Active Equities Group until later of 2 years or below 5% ownership.
- Registration Rights Agreement grants CPPIB demand and piggyback registration rights, subject to $50M minimum and certain limits.
- Company waived consent right to CPPIB's acquisition of remaining shares via ROFO.
- Standstill limits CPPIB from owning >9.99% without Board consent, up to 20% with consent.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1604028/000119312521251963/0001193125-21-251963-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1604028/000119312521251963/d192515d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-21-251963

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