secwatch.observer — SEC 8-K summary
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Issuer:     Leonardo DRS, Inc. (DRS)
CIK:        0001833756
Form:       8-K12B
Filed at:   2022-11-28T23:59:59+00:00
Accession:  0001628280-22-030896
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 3.03, 5.03, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Leonardo DRS closes all-stock merger with RADA; RADA holders get 19.5% stake; pro forma rev $2.7B
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- Pro forma 2021 revenue ~$2.7B and Adjusted EBITDA ~$305M; DRS stock begins trading on Nasdaq and TASE.
- Ownership: Leonardo S.p.A. holds 80.5%; RADA shareholders receive 19.5% via stock-split ratio of 1.451345331.
- Authorized shares increased to 350M; outstanding post-merger ~260.2M shares.
- Eric C. Salzman appointed to board and Audit Committee; pending DCSA waiver for Nom/Gov Committee seat.
- CEO William J. Lynn III gets new employment agreement with $2M RSU and $3M PRSU one-time award.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1833756/000162828022030896/0001628280-22-030896-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1833756/000162828022030896/drs-20221122.htm
  HTML page:      https://secwatch.observer/filing/0001628280-22-030896

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