secwatch.observer — SEC 8-K summary
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Issuer:     SeaSpine Holdings Corp (—)
CIK:        0001637761
Form:       8-K
Filed at:   2023-01-05T23:59:59+00:00
Accession:  0001193125-23-001942
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.90
Item codes: 1.02, 2.01, 3.01, 3.03, 5.03, 5.01, 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SeaSpine completes merger with Orthofix; SPNE delisted, each share converted to 0.4163 OFIX shares
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- Merger completed Jan 5, 2023: each SeaSpine share converted to 0.4163 Orthofix shares; SPNE delisted from Nasdaq.
- Former SeaSpine stockholders own ~43.5% of combined Orthofix; Orthofix stock continues as OFIX.
- Keith Valentine (ex-SeaSpine CEO) becomes President and CEO of combined company; Jon Serbousek Executive Chairman.
- Credit agreement with Wells Fargo repaid and terminated in connection with merger.
- Inducement grants: ~140k RSUs and ~338k options to Valentine; combined ~244k RSUs and ~370k options to other new hires.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1637761/000119312523001942/0001193125-23-001942-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1637761/000119312523001942/d447415d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-001942

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