Aviat Networks to acquire NEC's wireless backhaul business for $70M in cash and stock

AVIAT NETWORKS, INC.

Initial consideration: $45M cash plus $25M in Aviat common stock (~787,740 shares).
Transaction expected to close in 3-6 months, subject to regulatory approvals.
NEC to receive registration rights and the right to nominate a director to Aviat's board.
Aviat assumes certain liabilities; NEC retains excluded liabilities, including pre-closing product warranty liabilities.
Stock issuance exempt from registration under Section 4(a)(2) of the Securities Act.

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

AVIAT NETWORKS, INC. entered into Master Sale of Business Agreement with NEC Corporation valued at $45.0 million in cash and $25 million in Company common stock (effective 2023-05-09).

Action: entry
Agreement: asset purchase
Counterparty: NEC Corporation
Value: $45.0 million in cash and $25 million in Company common stock
Effective: 2023-05-09

Exact text from the filing

On May 9, 2023, Aviat Networks, Inc., a Delaware corporation (the “Company,” “we,” “us,” or “our”) entered into a Master Sale of Business Agreement (the “Purchase Agreement”), with NEC Corporation

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AVIAT NETWORKS, INC. filing history →

Source: SEC EDGAR

accession 0001193125-23-139464

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