secwatch.observer — SEC 8-K summary
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Issuer:     AVIENT CORP (AVNT)
CIK:        0001122976
Form:       8-K
Filed at:   2022-08-12T23:59:59+00:00
Accession:  0001193125-22-219362
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Avient sells Distribution segment to H.I.G. Capital for $950M cash
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- Sale price $950M cash, valuing Distribution at ~10x LTM EBITDA; buyer H.I.G. Capital.
- After-tax proceeds ~$750M will be used to pay down near-term maturing debt.
- Pro forma net debt to adjusted EBITDA leverage expected ~2.8x by year-end.
- Sale is part of Avient's specialty transformation; Distribution classified as discontinued operations.
- DSM Protective Materials acquisition also underway; no financing contingency on this deal.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1122976/000119312522219362/0001193125-22-219362-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1122976/000119312522219362/d395140d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-219362

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