---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-21-028699"
form_type: "8-K"
ticker: "ULBI"
cik: "0000875657"
company_name: "ULTRALIFE CORP"
filed_at: "2021-12-16T23:59:59+00:00"
generated_at: "2026-06-28T00:43:56.252910+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Ultralife acquires Excell Battery Group for $23.5M; expects EPS accretion within 12 months

## Summary
- Total purchase price of $23.5M for Excell Canada and Excell USA; funded by cash and new credit facilities.
- Excell generated $21.2M revenue for trailing twelve months ended Nov 30, 2021.
- Acquisition expected to be accretive on EPS basis within twelve months; expands commercial revenue diversification.
- Amended credit agreement: $10M term loan (5-year) and $30M revolver extended to May 2025, with potential increase to $50M.
- Excell serves industrial markets: downhole drilling, OEM medical, mining, marine; brings experienced technical resources.

## SEC filing metadata
- accession: 0001437749-21-028699
- form_type: 8-K
- ticker: ULBI
- cik: 0000875657
- company_name: ULTRALIFE CORP
- filed_at: 2021-12-16T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/875657/000143774921028699/0001437749-21-028699-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/875657/000143774921028699/ulbi20211213_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-21-028699
- JSON: https://secwatch.observer/filing/0001437749-21-028699.json
- Plain text: https://secwatch.observer/filing/0001437749-21-028699.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.