{"schema_version":"secwatch.filing_event.v1","accession":"0001437749-26-005618","form_type":"8-K","ticker":"LYTS","cik":"0000763532","company_name":"LSI INDUSTRIES INC","filed_at":"2026-02-25T23:59:59+00:00","discovered_at":"2026-05-14T18:02:37.656658+00:00","generated_at":"2026-05-16T00:33:46.017388+00:00","sec_items":["1.01","7.01","8.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"LSI Industries acquires Royston Group for $325M to create integrated retail branding platform","bullets":["Purchase price $325M: $320M cash at close, $5M in LSI common stock valued at Feb 19 close.","Pro-forma TTM Sep 2025 combined revenue ~$864M, adjusted EBITDA ~$95M (11.0% margin).","Royston generated TTM Sep 2025 revenue ~$272M, adjusted EBITDA ~$38M (14.0% margin).","Transaction expected to close in LSI's fiscal Q3 2026, subject to HSR clearance.","Financing: PNC commitment to increase credit facility to $425M; pro-forma net leverage ~3.0x at close."],"urls":{"canonical":"https://secwatch.observer/filing/0001437749-26-005618","json":"https://secwatch.observer/filing/0001437749-26-005618.json","markdown":"https://secwatch.observer/filing/0001437749-26-005618.md","text":"https://secwatch.observer/filing/0001437749-26-005618.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/763532/000143774926005618/0001437749-26-005618-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/763532/000143774926005618/lyts20260223_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-16T00:33:46.017388+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":"4086b84550e7d4cc113f8370987a4c5b6d585ac5","claim":"LSI INDUSTRIES INC entered into Agreement and Plan of Merger with SRR Holdings, Inc. (Royston) valued at aggregate purchase price of $325 million, subject to a working capital adjustment, with $320 million (effective 2026-02-20).","evidence_excerpt":"On February 20, 2026, LSI Industries Inc. (“ LSI ” or the “ Company ”) entered into an Agreement and Plan of Merger (the “ Merger Agreement ”) with SRR Holdings, Inc., a Delaware corporation (“ Royston ”), and Rhino Acquisition Company, Inc., a Delaware corporation and a wholly-owned direct subsidiary of the Company (the “ Merger Sub ”), pursuant to which LSI, through Merger Sub, agreed to merge with and into Royston, with Royston surviving (the “ Merger ”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/763532/000143774926005618/0001437749-26-005618-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"merger"},{"label":"Counterparty","value":"SRR Holdings, Inc. (Royston)"},{"label":"Value","value":"aggregate purchase price of $325 million, subject to a working capital adjustment, with $320 million"},{"label":"Effective","value":"2026-02-20"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}