secwatch.observer — SEC 8-K summary
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Issuer:     Crocs, Inc. (CROX)
CIK:        0001334036
Form:       8-K
Filed at:   2022-02-18T23:59:59+00:00
Accession:  0001334036-22-000014
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 2.01, 2.03, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Crocs closes HEYDUDE acquisition for $2.05B cash plus 2.85M shares
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- Total consideration: $2.05 billion cash plus 2,852,280 Crocs shares subject to 12-month lock-up with 50% release at 6 months.
- Acquisition financed via new $2.0B Term Loan B facility (due 2029) and expanded $600M revolver (from $500M) with PNC.
- $125M cash placed in escrow for 18 months to secure seller indemnification obligations.
- Hey Dude LLC, Happy One, and Lucky Top became Crocs subsidiaries and additional guarantors on existing notes.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1334036/000133403622000014/0001334036-22-000014-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1334036/000133403622000014/crox-20220217.htm
  HTML page:      https://secwatch.observer/filing/0001334036-22-000014

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