secwatch.observer — SEC 8-K summary
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Issuer:     HORACE MANN EDUCATORS CORP /DE/ (HMN)
CIK:        0000850141
Form:       8-K
Filed at:   2021-07-14T23:59:59+00:00
Accession:  0001628280-21-013804
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Horace Mann acquires Madison National Life for $172.5M to expand educator benefits
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- Purchase price $172.5M; potential earnout up to $12.5M if 2023 targets met.
- Expected to close early Q1 2022, subject to regulatory approvals.
- Expects mid-single-digit EPS accretion and ~50 bps ROE contribution post-close.
- Madison National had ~$108M net premiums and ~$14M statutory earnings in 2020.
- Credit facility expanded to $325M to fund acquisition; leverage expected below 25%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/850141/000162828021013804/0001628280-21-013804-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/850141/000162828021013804/hmn-20210714.htm
  HTML page:      https://secwatch.observer/filing/0001628280-21-013804

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