ULTRALIFE CORP (ULBI): M&A transaction — Ultralife completes $50M acquisition of Electrochem Solutions; secures $55M term loan

ULTRALIFE CORP

Acquired all shares of Electrochem from Integer Holdings (NYSE: ITGR) for $50M cash on Oct 31, 2024.
Electrochem designs primary lithium metal and ultracapacitor cells; trailing 12-month revenue of $34M.
Funded via new $55M senior secured term loan from KeyBank, M&T, and Community Bank, maturing Oct 31, 2029.
CEO Mike Manna expects cross-selling opportunities, scale efficiencies, and expanded market reach.
Financial statements and pro forma financial information to be filed within 71 days of this report.

item 1.01 item 2.01 item 2.03 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

ULTRALIFE CORP completed an acquisition involving Greatbatch Ltd. for $50 million (closed 2024-10-31).

Action: acquisition
Counterparty: Greatbatch Ltd.
Consideration: $50 million
Closing: 2024-10-31

Exact text from the filing

a stock purchase agreement (the “Agreement”) with Greatbatch Ltd., a New York corporation (the “Seller”), dated September 27, 2024. The Agreement established a purchase price of $50 million for the acquisition (the “Acquisition”) subject to customary working capital and net cash adjustments. The Company funded the purchase price for the Acquisition through the New

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ULTRALIFE CORP filing history →

Source: SEC EDGAR

accession 0001437749-24-033673

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