8-K
filed December 1, 2023, 6:59 PM ET
ticker AVNW
CIK 0001377789
M&A
confidence high
sentiment positive
materiality 0.75
AVIAT NETWORKS, INC. (AVNW): M&A transaction — Aviat closes NEC wireless transport buy for $65.5M; price trimmed by $4.5M on delayed Malaysia assets
AVIAT NETWORKS, INC.
- Final purchase price $65.5M ($42.1M cash + $23.4M stock); down from $70M originally announced.
- Stock consideration fixed at $31.74/share; 736,750 shares issued (50,990 fewer vs original).
- Delayed transfer of Malaysian assets accounts for ~7% of the expected $150M annual run-rate revenue.
- Acquisition closed Nov 30, 2023; FY2024 guidance update to be provided on Q2 earnings call.
- Entered multiple ancillary agreements: registration rights/lock-up, supply, transition services, IP licenses.
Key facts
Extracted from this filing and checked against the source text.
M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.9
AVIAT NETWORKS, INC. completed an acquisition involving NEC Corporation for $45.0 million cash and $25 million in Company common stock (closed 2023-11-30).
- Action
- acquisition
- Counterparty
- NEC Corporation
- Consideration
- $45.0 million cash and $25 million in Company common stock
- Closing
- 2023-11-30
Exact text from the filing
NEC relating to NEC’s wireless backhaul business (the “Transaction”). Consideration due at the closing of the Transaction (the “Closing”) includes (i) an amount in cash equal to $45.0 million, subject to certain post-closing adjustments (the “Cash Consideration”), and (ii) the issuance of $25 million in Company common stock, par value $0.01 per share (the “Stock
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
AVIAT NETWORKS, INC. entered into MSA with NEC Platforms, Ltd. (effective 2023-11-30).
- Action
- entry
- Agreement
- supply
- Counterparty
- NEC Platforms, Ltd.
- Effective
- 2023-11-30
Exact text from the filing
On November 30, 2023, the Company entered into a Manufacturing and Supply Agreement (“MSA”), by and among the Company, NEC Platforms, Ltd., a Japan limited company (“NECPF”) and NEC.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
AVIAT NETWORKS, INC. entered into Trademark License Agreement with NEC (effective 2023-11-30).
- Action
- entry
- Agreement
- license
- Counterparty
- NEC
- Effective
- 2023-11-30
Exact text from the filing
On November 30, 2023, the Company entered into a Trademark License Agreement with NEC (the “Pasolink Licensing Agreement”)
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
AVIAT NETWORKS, INC. entered into Global Transition Services Agreement with NEC (effective 2023-11-30).
- Action
- entry
- Agreement
- lease
- Counterparty
- NEC
- Effective
- 2023-11-30
Exact text from the filing
Item 1.01 Entry into a Material Definitive Agreement MSBA Amendment On November 30, 2023, the Company and NEC entered into an Amendment to the Master Sale of Business Agreement (the “MSBA Amendment”).
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
AVIAT NETWORKS, INC. entered into Registration Rights and Lock-Up Agreement with NEC (effective 2023-11-30).
- Action
- entry
- Counterparty
- NEC
- Effective
- 2023-11-30
Exact text from the filing
On November 30, 2023, the Company entered into a Registration Rights and Lock-Up Agreement (the “Registration Rights and Lock-Up Agreement”) with NEC
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
AVIAT NETWORKS, INC. amended MSBA Amendment with NEC valued at from $70.0 million to $65.5 million (effective 2023-11-30).
- Action
- amendment
- Counterparty
- NEC
- Value
- from $70.0 million to $65.5 million
- Effective
- 2023-11-30
Exact text from the filing
On November 30, 2023, the Company and NEC entered into an Amendment to the Master Sale of Business Agreement (the “MSBA Amendment”).
View on SEC.gov
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