---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-200888"
form_type: "8-K"
ticker: "MATV"
cik: "0001000623"
company_name: "Mativ Holdings, Inc."
filed_at: "2023-08-02T23:59:59+00:00"
generated_at: "2026-06-12T10:54:04.660233+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Mativ agrees to sell Engineered Papers for $620M; dividend cut to $0.40/sh, $30M buyback

## Summary
- Binding offer from Evergreen Hill Enterprise for $620M; expected net proceeds ~$575M used primarily for debt reduction.
- Transaction valued at ~6.5x EP's trailing 12-month Adjusted EBITDA; EP sales ~$530M.
- Annual dividend reduced from $1.60 to $0.40 per share, saving ~$66M annually; new dividend ~25% of post-transaction FCF.
- Board approved $30M share repurchase program; debt reduction remains primary near-term use of cash.
- Post-transaction, Mativ expects ~$2.2B sales, ~13% Adjusted EBITDA margin, and net leverage target 2.5x-3.5x by end of 2024.

## SEC filing metadata
- accession: 0001193125-23-200888
- form_type: 8-K
- ticker: MATV
- cik: 0001000623
- company_name: Mativ Holdings, Inc.
- filed_at: 2023-08-02T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1000623/000119312523200888/0001193125-23-200888-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1000623/000119312523200888/d516352d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-200888
- JSON: https://secwatch.observer/filing/0001193125-23-200888.json
- Plain text: https://secwatch.observer/filing/0001193125-23-200888.txt

## Key facts
- Material Agreements
  Mativ Holdings, Inc. entered into Offer Letter with Evergreen Hill Enterprise Pte. Ltd. valued at $620,000,000 (effective 2023-08-01).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Evergreen Hill Enterprise Pte. Ltd.
  - Value: $620,000,000
  - Effective: 2023-08-01
  source text: On August 1, 2023, Mativ Holdings, Inc. (“Mativ” or the “Company”) entered into a final, binding and irrevocable offer letter (the “Offer Letter”) with Evergreen Hill Enterprise Pte. Ltd., an affiliate of PT Bukit Muria Jaya (“Buyer” or “Evergreen Hill Enterprise”) pursuant to which Buyer made a binding offer (the “Offer”) to acquire the Company’s Engineered Papers business for $620 million in cash, subject to customary closing date adjustments (the “Transaction”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1000623/000119312523200888/0001193125-23-200888-index.htm

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