ADTRAN Holdings signs domination and profit transfer agreement with ADVA; offers EUR 17.21/share exit

ADTRAN Holdings, Inc.

ADTRAN Holdings held 65.34% of ADVA shares as of Nov 30, 2022; DPLTA signed Dec 1 after shareholder vote.
Offers minority ADVA shareholders EUR 17.21 per share exit compensation or EUR 0.59 gross (EUR 0.52 net) annual.
DPLTA effectiveness subject to German commercial register registration, no earlier than Jan 1, 2023.
Potential shareholder litigation in Germany could delay registration of the DPLTA.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

ADTRAN Holdings, Inc. entered into domination and profit and loss transfer agreement (the “DPLTA”) with ADVA Optical Networking SE (effective 2022-12-01).

Action: entry
Counterparty: ADVA Optical Networking SE
Effective: 2022-12-01

Exact text from the filing

(the “Company”), on October 18, 2022, the Board of Directors of the Company and the management board of ADVA Optical Networking SE, a company organized and existing under the laws of Germany (“ADVA”), agreed on a final draft of a domination and profit and loss transfer agreement (the “ DPLTA”) between the Company, as the controlling company, and ADVA, as the controlled company.

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ADTRAN Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-22-298171

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