8-K
filed September 30, 2024, 7:59 PM ET
ticker J
CIK 0000052988
M&A
confidence high
sentiment neutral
materiality 1.00
Jacobs completes spin-off and merger of CMS/C&I with Amentum, forming Amentum Holdings (AMTM)
JACOBS SOLUTIONS INC.
- Jacobs distributed 124M shares of SpinCo (AMTM) to shareholders; Jacobs holds ~7.5%, shareholders ~51%, Amentum ~37%.
- Jacobs received ~$0.9B cash from SpinCo; proceeds to be used for debt repayment or share buybacks within 12 months.
- Pro forma FY2023 revenue from continuing ops $10.8B (vs historical $16.4B); net income $422M (vs $667M).
- Five directors and EVP Stephen Arnette resigned to join SpinCo board/management.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Stephen A. Arnette resigned as Executive Vice President and President of the Critical Mission Solutions Business at JACOBS SOLUTIONS INC..
- Action
- resigned
- Role
- Executive Vice President and President of the Critical Mission Solutions Business
Exact text from the filing
Additionally, effective as of September 27, 2024, Stephen A. Arnette resigned his position of Executive Vice President and President of the Critical Mission Solutions Business with Jacobs, to become the Chief Operating Officer of SpinCo.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Christopher M.T. Thompson resigned as Director at JACOBS SOLUTIONS INC..
- Action
- resigned
- Role
- Director
Exact text from the filing
each of Steven J. Demetriou, General Vincent K. Brooks, General Ralph E. Eberhart, Barbara L. Loughran and Christopher M.T. Thompson resigned as directors of Jacobs to join the board of directors of SpinCo.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
General Ralph E. Eberhart resigned as Director at JACOBS SOLUTIONS INC..
- Action
- resigned
- Role
- Director
Exact text from the filing
each of Steven J. Demetriou, General Vincent K. Brooks, General Ralph E. Eberhart, Barbara L. Loughran and Christopher M.T. Thompson resigned as directors of Jacobs to join the board of directors of SpinCo.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Barbara L. Loughran resigned as Director at JACOBS SOLUTIONS INC..
- Action
- resigned
- Role
- Director
Exact text from the filing
each of Steven J. Demetriou, General Vincent K. Brooks, General Ralph E. Eberhart, Barbara L. Loughran and Christopher M.T. Thompson resigned as directors of Jacobs to join the board of directors of SpinCo.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
General Vincent K. Brooks resigned as Director at JACOBS SOLUTIONS INC..
- Action
- resigned
- Role
- Director
Exact text from the filing
each of Steven J. Demetriou, General Vincent K. Brooks, General Ralph E. Eberhart, Barbara L. Loughran and Christopher M.T. Thompson resigned as directors of Jacobs to join the board of directors of SpinCo.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Steven J. Demetriou resigned as Director at JACOBS SOLUTIONS INC..
- Action
- resigned
- Role
- Director
Exact text from the filing
each of Steven J. Demetriou, General Vincent K. Brooks, General Ralph E. Eberhart, Barbara L. Loughran and Christopher M.T. Thompson resigned as directors of Jacobs to join the board of directors of SpinCo.
View on SEC.gov
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