Resideo to acquire Snap One for $10.75/share in cash; raises $500M convertible preferred, $600M debt

RESIDEO TECHNOLOGIES, INC.

Merger consideration of $10.75 per share in cash; Snap One majority stockholders consent given.
CD&R to invest $500M in convertible perpetual preferred stock (7% dividend, conversion price $26.92).
Debt financing of up to $600M senior secured term loan from Bank of America and Morgan Stanley.
Closing conditioned on HSR clearance and other customary conditions; no financing contingency.
Outside date set at October 15, 2024, with possible extension to January 15, 2025.

item 1.01 item 2.02 item 3.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.7

RESIDEO TECHNOLOGIES, INC. reported preliminary financial results for the quarter ended March 30, 2024.

Period: the quarter ended March 30, 2024
Result: preliminary results

Exact text from the filing

On April 15, 2024, the Company issued a press release announcing the Company’s execution of the Merger Agreement, which also included the Company’s preliminary expectations are for revenue and adjusted EBITDA for the quarter ended March 30, 2024

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

RESIDEO TECHNOLOGIES, INC. entered into Agreement and Plan of Merger with Snap One Holdings Corp. (effective 2024-04-14).

Action: entry
Agreement: merger
Counterparty: Snap One Holdings Corp.
Effective: 2024-04-14

Exact text from the filing

On April 14, 2024, Resideo Technologies, Inc., a Delaware corporation (the “Company”), Pop Acquisition Inc., a Delaware corporation and a wholly owned subsidiary of the Company (“Merger Sub”), and Snap One Holdings Corp., a Delaware corporation (“Snap One”), entered into an Agreement and Plan of Merger (the “Merger Agreement”).

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RESIDEO TECHNOLOGIES, INC. filing history →

Source: SEC EDGAR

accession 0001193125-24-096352

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