secwatch.observer — SEC 8-K summary
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Issuer:     JACOBS SOLUTIONS INC. (J)
CIK:        0000052988
Form:       8-K
Filed at:   2024-09-30T23:59:59+00:00
Accession:  0001193125-24-228379
Event type: m_and_a
Sentiment:  neutral
Materiality: 1.00
Item codes: 1.01, 2.01, 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Jacobs completes spin-off and merger of CMS/C&I with Amentum, forming Amentum Holdings (AMTM)
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/52988/000119312524228379/0001193125-24-228379-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/52988/000119312524228379/d23970d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-228379

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