secwatch.observer — SEC 8-K summary
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Issuer:     Blue Bird Corp (BLBD)
CIK:        0001589526
Form:       8-K
Filed at:   2026-02-17T23:59:59+00:00
Accession:  0001589526-26-000010
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Blue Bird to acquire full ownership of Micro Bird JV for ~$200M
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- Purchase price $198.2M: 30% cash (~$59.5M) and 70% stock (~2.7M exchangeable shares).
- Expected close H1 2026; adds Steve Girardin to Blue Bird Board as Class III director.
- Also acquires Micro Bird's Plattsburg, NY plant for ~$16.5M separate consideration.
- Consolidates Type A, C, D bus portfolio; expands Buy America-compliant shuttle bus TAM.
- Five-year non-compete; lock-up on stock consideration with phased releases over 3 years.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1589526/000158952626000010/0001589526-26-000010-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1589526/000158952626000010/blbd-20260215.htm
  HTML page:      https://secwatch.observer/filing/0001589526-26-000010

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