---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-233552"
form_type: "8-K"
ticker: null
cik: "0000055067"
company_name: "KELLANOVA"
filed_at: "2023-09-12T23:59:59+00:00"
generated_at: "2026-06-10T21:28:23.447251+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Kellogg board approves spin-off of WK Kellogg Co; effective Oct 2, 2023

## Summary
- Board formally approved spin-off of WK Kellogg Co; effective 12:01am EDT Oct 2, 2023.
- Record date Sept 21; distribution ratio: 1 share of WK Kellogg Co (KLG) per 4 shares of Kellogg (K).
- Kellanova (renamed K) projected 2024 net sales $13.4-13.6B, adj. EBITDA $2.25-2.3B.
- WK Kellogg Co projected 2024 net sales ~$2.7B, adj. EBITDA $255-265M; expects 500 bps margin improvement by 2026.
- WK Kellogg Co entered $1.1B credit facility ($500M term loan, $250M delayed draw, $350M revolver) maturing in 5 years.

## SEC filing metadata
- accession: 0001193125-23-233552
- form_type: 8-K
- cik: 0000055067
- company_name: KELLANOVA
- filed_at: 2023-09-12T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/55067/000119312523233552/0001193125-23-233552-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/55067/000119312523233552/d534486d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-233552
- JSON: https://secwatch.observer/filing/0001193125-23-233552.json
- Plain text: https://secwatch.observer/filing/0001193125-23-233552.txt

## Key facts
- Debt Financings
  KELLANOVA incurred credit facility of $1,100,000,000 with lenders at SOFR, CDOR, or EURIBOR plus margin ranging from 1.50% to 2.50% (for SOFR/CDOR/EU maturing five years from closing date.
  - Instrument: credit facility
  - Principal: $1,100,000,000
  - Counterparty: lenders
  - Rate: SOFR, CDOR, or EURIBOR plus margin ranging from 1.50% to 2.50% (for SOFR/CDOR/EU
  - Maturity: five years from closing date
  - Event: incurrence
  source text: On September 12, 2023, WK Kellogg Co (the “Subsidiary”), a wholly owned subsidiary of Kellogg Company (“Kellogg”) entered into a credit facility in an aggregate principal amount of $1,100,000,000 (the “Credit Facility”), which will mature five years from the closing date thereof.
  evidence_url: https://www.sec.gov/Archives/edgar/data/55067/000119312523233552/0001193125-23-233552-index.htm
- Material Agreements
  KELLANOVA entered into Credit Facility with lenders under the Credit Facility valued at $1,100,000,000 (effective 2023-09-12).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: lenders under the Credit Facility
  - Value: $1,100,000,000
  - Effective: 2023-09-12
  source text: On September 12, 2023, WK Kellogg Co (the “Subsidiary”), a wholly owned subsidiary of Kellogg Company (“Kellogg”) entered into a credit facility in an aggregate principal amount of $1,100,000,000 (the “Credit Facility”), which will mature five years from the closing date thereof.
  evidence_url: https://www.sec.gov/Archives/edgar/data/55067/000119312523233552/0001193125-23-233552-index.htm

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