secwatch.observer — SEC 8-K summary
======================================

Issuer:     ZimVie Inc. (—)
CIK:        0001876588
Form:       8-K
Filed at:   2024-04-01T23:59:59+00:00
Accession:  0001193125-24-082706
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 2.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ZimVie closes spine business sale to H.I.G. Capital for $375M; becomes pure-play dental
--------------------------------------------------------------------------------

- Sale closed April 1; total consideration $375M: $315M cash + $60M promissory note at 10% PIK interest.
- ZimVie transitions to pure-play dental company following sale to H.I.G. Capital affiliate.
- Target annual financial profile one year post-close: $455M+ net sales and 15%+ adjusted EBITDA margin.
- Intends to immediately pay down $275M debt, leaving ~$234M total debt and ~$66M cash as of April 2.
- Spine business previously held ZimVie's global spine operations; deferred markets transfer pending.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1876588/000119312524082706/0001193125-24-082706-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1876588/000119312524082706/d760449d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-082706

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer