---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-023124"
form_type: "8-K"
ticker: "CRWS"
cik: "0000025895"
company_name: "CROWN CRAFTS INC"
filed_at: "2024-07-22T23:59:59+00:00"
generated_at: "2026-05-31T18:38:25.437796+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Crown Crafts acquires Baby Boom assets for $18M cash; funds with $8M term loan

## Summary
- Acquired substantially all assets of Baby Boom Consumer Products for $18M cash via subsidiary NoJo Baby, subject to working capital adjustment.
- Purchase price funded by $8M term loan from CIT (48 monthly installments, SOFR+2.25%) and increased revolver capacity to $40M.
- Term loan requires 50% of Excess Cash Flow prepayments within 90 days of fiscal year-end; Excess Availability must be at least 50% of outstanding term loan.
- Financing Agreement amended: revolver extended to July 2029; Fixed Charge Coverage ratio of 1.15:1.0 required until term loan repaid.
- $75K escrow for indemnification claims and $500K escrow for post-closing purchase price adjustments; representation and warranty insurance obtained.

## SEC filing metadata
- accession: 0001437749-24-023124
- form_type: 8-K
- ticker: CRWS
- cik: 0000025895
- company_name: CROWN CRAFTS INC
- filed_at: 2024-07-22T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/25895/000143774924023124/0001437749-24-023124-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/25895/000143774924023124/crws20240720_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-023124
- JSON: https://secwatch.observer/filing/0001437749-24-023124.json
- Plain text: https://secwatch.observer/filing/0001437749-24-023124.txt

## Key facts
- M&A Transactions
  CROWN CRAFTS INC completed an acquisition involving Baby Boom Consumer Products, Inc. for $18.0 million in cash (closed 2024-07-19).
  - Action: acquisition
  - Counterparty: Baby Boom Consumer Products, Inc.
  - Consideration: $18.0 million in cash
  - Closing: 2024-07-19
  source text: Seller and the Owners are collectively referred to in this Report as the “Seller Parties”. Pursuant to the Purchase Agreement, the purchase price for the acquistion was $18.0 million in cash (the “Purchase Price”), subject to a dollar-for-dollar adjustment to the extent that the working capital at closing is greater or less than the target working capital of
  evidence_url: https://www.sec.gov/Archives/edgar/data/25895/000143774924023124/0001437749-24-023124-index.htm

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