---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-063262"
form_type: "8-K"
ticker: "ICE"
cik: "0001571949"
company_name: "Intercontinental Exchange, Inc."
filed_at: "2023-03-07T23:59:59+00:00"
generated_at: "2026-06-18T09:43:50.051481+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# ICE and Black Knight amend merger terms to $75/share; divest Empower LOS to Constellation; extend deadline to Nov 2023

## Summary
- Revised consideration $75/share ($68 cash per share plus stock with 0.0682 exchange ratio, VWAP $102.62).
- Divestiture of Empower LOS (including Exchange, LendingSpace, AIVA) to Constellation Software to address FTC antitrust concerns; deal contingent on ICE's acquisition closing.
- ICE commits to litigate with FTC if necessary; merger deadline extended to November 4, 2023.
- $725M termination fee now triggered if Black Knight shareholders fail to approve; Black Knight's prior $40M expense reimbursement obligation eliminated.
- Parties certified closing conditions satisfied as of March 7, 2023.

## SEC filing metadata
- accession: 0001193125-23-063262
- form_type: 8-K
- ticker: ICE
- cik: 0001571949
- company_name: Intercontinental Exchange, Inc.
- filed_at: 2023-03-07T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1571949/000119312523063262/0001193125-23-063262-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1571949/000119312523063262/d472787d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-063262
- JSON: https://secwatch.observer/filing/0001193125-23-063262.json
- Plain text: https://secwatch.observer/filing/0001193125-23-063262.txt

## Key facts
- Material Agreements
  Intercontinental Exchange, Inc. amended Amendment No. 1 with Black Knight, Inc. (effective 2023-03-07).
  - Action: amendment
  - Agreement: merger
  - Counterparty: Black Knight, Inc.
  - Effective: 2023-03-07
  source text: On March 7, 2023, Intercontinental Exchange, Inc., a Delaware corporation (“ ICE ”), entered into Amendment No. 1 (the “ Amendment ”) to the previously announced Agreement and Plan of Merger, dated as of May 4, 2022 (the “ Original Agreement ” and, as amended by the Amendment, the “ Merger Agreement ”), with Black Knight, Inc., a Delaware corporation (“ Black Knight ”), and Sand Merger Sub Corporation, a Delaware corporation and a wholly owned subsidiary of ICE (“ Sub ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1571949/000119312523063262/0001193125-23-063262-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.