secwatch.observer — SEC 8-K summary
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Issuer:     Benefitfocus, Inc. (—)
CIK:        0001576169
Form:       8-K
Filed at:   2023-01-24T23:59:59+00:00
Accession:  0001193125-23-013732
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 1.02, 2.01, 2.04, 3.01, 3.03, 5.01, 5.03, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Voya Financial completes acquisition of Benefitfocus for $10.50 per share in cash
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- Acquisition closed Jan 24, 2023; Benefitfocus stockholders received $10.50 per share in cash.
- Benefitfocus common stock delisted from Nasdaq; ceased trading prior to market open on Jan 24.
- Voya now serves ~38M individuals across workplace benefits; Benefitfocus becomes wholly owned subsidiary.
- Outstanding 1.25% Convertible Notes due 2023 now convertible into cash; repurchase option at ~$1,002.33 per $1,000 principal.
- Board of directors replaced; Michael R. Katz and Michelle P. Luk appointed as directors of surviving corporation.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1576169/000119312523013732/0001193125-23-013732-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1576169/000119312523013732/d446421d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-013732

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