Identiv sells Physical Security Business for $145M; CEO to resign at closing

Identiv, Inc.

Sale to Hawk Acquisition for $145M subject to adjustments; Vitaprotech SAS guarantees buyer obligations.
Closing conditions: stockholder approval, HSR, CFIUS, UK NSIA clearance; no buyer financing condition.
Bleichroeder LP funds (12.4% common, 100% preferred) agree via Voting and Support Agreement to vote for the deal.
Kristen Newquist appointed President IoT Solutions (eff. Apr 15); CEO Humphreys to depart at closing, Newquist to succeed.
Termination fee of $5.075M for Identiv if superior proposal; expense reimbursement capped at $3M if stockholder vote fails.

item 1.01 item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Steven Humphreys

Chief Executive Officer

INVE · Identiv, Inc.

Successor: Kristen F. Newquist
Filed: April 3, 2024, 7:59 PM ET

Steven Humphreys is expected to resign from his position as Identiv’s Chief Executive Officer and join an affiliate of Vitaprotech Group SAS, effective upon the Closing.

Appointed

Kristen F. Newquist

President, IoT Solutions

INVE · Identiv, Inc.

Effective: 2024-04-15
Filed: April 3, 2024, 7:59 PM ET

On April 1, 2024, the Board appointed Kristen F. Newquist as President, IoT Solutions, effective April 15, 2024.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.9

Steven Humphreys departed as Chief Executive Officer at Identiv, Inc..

Action: resign
Role: Chief Executive Officer

Exact text from the filing

Steven Humphreys is expected to resign from his position as Identiv’s Chief Executive Officer and join an affiliate of Vitaprotech Group SAS, effective upon the Closing.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Kristen F. Newquist was appointed as President, IoT Solutions at Identiv, Inc..

Action: appointed
Role: President, IoT Solutions

Exact text from the filing

On April 1, 2024, the Board appointed Kristen F. Newquist as President, IoT Solutions, effective April 15, 2024.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 1.0

Identiv, Inc. entered into Stock and Asset Purchase Agreement with Hawk Acquisition, Inc. valued at $145 million (effective 2024-04-02).

Action: entry
Agreement: asset purchase
Counterparty: Hawk Acquisition, Inc.
Value: $145 million
Effective: 2024-04-02

Exact text from the filing

On April 2, 2024, Identiv, Inc. (“Identiv”), entered into a Stock and Asset Purchase Agreement (the “Purchase Agreement”) with Hawk Acquisition, Inc., a Delaware corporation (“Buyer”).

View on SEC.gov

380 material agreements filed in the last 30 days. Browse all material agreements →

Identiv, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-24-085436

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