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

Issuer:     KEYCORP /NEW/ (KEY)
CIK:        0000091576
Form:       8-K
Filed at:   2024-08-30T23:59:59+00:00
Accession:  0001193125-24-211094
Event type: m_and_a
Sentiment:  positive
Materiality: 0.70
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Scotiabank completes $0.8B initial KeyCorp investment; owns 4.9% of common stock
--------------------------------------------------------------------------------

- Initial purchase of $0.8B at $17.17/share completed; Scotiabank now holds 4.9% of KeyCorp common.
- Total strategic investment of ~$2.8B for 14.9% pro forma ownership, with final $2.0B tranche pending.
- Final purchase of ~$2.0B expected to close in Q1 2025, subject to Federal Reserve approval.
- Deal announced August 12, 2024; Scotiabank to become a 14.9% shareholder.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/91576/000119312524211094/0001193125-24-211094-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/91576/000119312524211094/d851609d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-211094

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