{"schema_version":"secwatch.filing_event.v1","accession":"0001387131-22-012659","form_type":"8-K","ticker":null,"cik":"0001068875","company_name":"AVANTAX, INC.","filed_at":"2022-12-22T23:59:59+00:00","discovered_at":"2026-05-14T18:03:49.496362+00:00","generated_at":"2026-06-20T23:49:29.256007+00:00","sec_items":["2.01","5.02","9.01"],"event_type":"m_and_a","sentiment":"neutral","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"Blucora completes $720M sale of TaxAct tax software to Cinven; becomes pure wealth management firm","bullets":["Sold TaxAct for $720M cash; proceeds used to repay $521M term loan, leaving $256M cash pro forma at Sept 30, 2022.","Pro forma net loss from continuing operations of $17.2M for 9M 2022 and $39.8M for FY 2021; company now only Avantax Wealth Management.","Directors Steven Aldrich and Mary Zappone will not stand for reelection; board size reduced from 11 to 9 at 2023 annual meeting.","President of TaxAct Curtis Campbell transferred to buyer and ceased as executive officer upon closing on Dec 19, 2022.","Entered transition services agreement (up to 6 months) and sublease agreement with buyer for ongoing arrangements."],"urls":{"canonical":"https://secwatch.observer/filing/0001387131-22-012659","json":"https://secwatch.observer/filing/0001387131-22-012659.json","markdown":"https://secwatch.observer/filing/0001387131-22-012659.md","text":"https://secwatch.observer/filing/0001387131-22-012659.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1068875/000138713122012659/0001387131-22-012659-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1068875/000138713122012659/bcor-8k_121922.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-20T23:49:29.256007+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"2515b3b9da","claim":"Curtis Campbell departed as President of TaxAct and Blucora Software at AVANTAX, INC..","evidence_excerpt":"Curtis Campbell, the President of TaxAct and Blucora Software, transferred to an affiliate of Buyer and ceased to be an executive officer of the Company.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1068875/000138713122012659/0001387131-22-012659-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"ceased to be an executive officer"},{"label":"Role","value":"President of TaxAct and Blucora Software"}],"fact_type":"executive_change"},{"claim_id":"4437cc3f22","claim":"Mary Zappone departed as Director at AVANTAX, INC..","evidence_excerpt":"Steven Aldrich and Mary Zappone notified the Company on December 19, 2022 of their intention not to stand for reelection at the 2023 annual meeting of the Company’s stockholders","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1068875/000138713122012659/0001387131-22-012659-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"not stand for reelection"},{"label":"Role","value":"Director"}],"fact_type":"executive_change"},{"claim_id":"bafa3ed3b9","claim":"Steven Aldrich departed as Director at AVANTAX, INC..","evidence_excerpt":"Steven Aldrich and Mary Zappone notified the Company on December 19, 2022 of their intention not to stand for reelection at the 2023 annual meeting of the Company’s stockholders","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1068875/000138713122012659/0001387131-22-012659-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"not stand for reelection"},{"label":"Role","value":"Director"}],"fact_type":"executive_change"},{"claim_id":"fbab13e0cda880d15d5d8a9c8e3decb78e46892e","claim":"AVANTAX, INC. completed a disposition involving Franklin Cedar Bidco, LLC, an affiliate of Cinven for $720 million in cash (closed 2022-12-19).","evidence_excerpt":"On December 19, 2022, Blucora, Inc., a Delaware corporation (the “ Company ”), completed the previously announced sale of its tax software business to Franklin Cedar Bidco, LLC, a Delaware limited liability and an affiliate of Cinven (“ Buyer ”), in accordance with that certain Stock Purchase Agreement, dated as of October 31, 2022 (the “ Purchase Agreement ”), by and among the Company, TaxAct Holdings, Inc. (f/k/a Avantax Holdings, Inc.), a Delaware corporation and a direct subsidiary of the Company (“ TaxAct ”), Buyer and DS Admiral Bidco, LLC, a Delaware limited liability company, for an aggregate purchase price of $720 million in cash, subject to customary purchase price adjustments (the “ Transaction ”).","evidence_source":"SEC 8-K Item 2.01/5.01","evidence_url":"https://www.sec.gov/Archives/edgar/data/1068875/000138713122012659/0001387131-22-012659-index.htm","confidence":0.9,"family_label":"M&A Transactions","details":[{"label":"Action","value":"disposition"},{"label":"Counterparty","value":"Franklin Cedar Bidco, LLC, an affiliate of Cinven"},{"label":"Consideration","value":"$720 million in cash"},{"label":"Closing","value":"2022-12-19"}],"fact_type":"ma_transaction"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}