secwatch.observer — SEC 8-K summary
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Issuer:     TWIN DISC INC (TWIN)
CIK:        0000100378
Form:       8-K
Filed at:   2025-02-18T23:59:59+00:00
Accession:  0001437749-25-004129
Event type: m_and_a
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 8.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Twin Disc closes $16.5M acquisition of Kobelt, secures $65M credit facility
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- Acquired Kobelt Manufacturing for CAD $23.4M (USD $16.5M); paid CAD $23,397,932 at closing.
- Kobelt generated ~$14M revenue in 2024; acquisition expected to be immediately accretive to GAAP earnings.
- New $15M term loan (maturity Apr 2027) and $50M revolver with Bank of Montreal; refinances prior credit agreement.
- Dividend capped at $5M per fiscal year under new credit agreement; borrowing base includes Kobelt receivables/inventory.
- Kobelt adds brake, control, steering systems for marine/industrial; combined global sales and service team to expand reach.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/100378/000143774925004129/0001437749-25-004129-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/100378/000143774925004129/twin20250213_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-25-004129

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