secwatch.observer — SEC 8-K summary
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Issuer:     Cooper-Standard Holdings Inc. (CPS)
CIK:        0001320461
Form:       8-K
Filed at:   2022-11-07T23:59:59+00:00
Accession:  0001320461-22-000124
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 3.03, 5.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cooper-Standard adopts tax benefits preservation plan to protect ~$130M NOLs from Section 382 ownership change
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- Board declares dividend of one right per common share for holders of record on November 17, 2022.
- Rights become exercisable if a person acquires 4.9% or more of outstanding common stock without Board approval.
- As of Sept 30, 2022, Cooper-Standard had approximately $130 million of U.S. tax attributes at risk.
- Rights expire on November 6, 2025, unless earlier redeemed, exchanged, or terminated by the Board.
- Certificate of Elimination filed for 7% cumulative participating convertible preferred stock (no shares outstanding).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1320461/000132046122000124/0001320461-22-000124-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1320461/000132046122000124/cps-20221107.htm
  HTML page:      https://secwatch.observer/filing/0001320461-22-000124

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