secwatch.observer — SEC 8-K summary
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Issuer:     Vestis Corp (VSTS)
CIK:        0001967649
Form:       8-K
Filed at:   2023-10-02T23:59:59+00:00
Accession:  0001628280-23-033362
Event type: other_material
Sentiment:  neutral
Materiality: 0.90
Item codes: 1.01, 2.03, 5.01, 5.02, 5.03, 5.05, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Vestis completes spin-off from Aramark; begins trading as independent public company on NYSE under 'VSTS'
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- Distribution of 130.7M shares to Aramark stockholders at 1-for-2 ratio effective Sept 30, 2023.
- Entered into $1.8B credit facilities ($800M term A-1, $700M term A-2, $300M revolver); funded $1.457B transfer to Aramark.
- Board expanded to 8 directors; Phillip Holloman Chairman, Doug Pertz Vice Chairman; Kim Scott President/CEO.
- Adopted 2023 Long-Term Incentive Plan and granted DSU awards to non-employee directors.
- Transition Services Agreement with Aramark for up to 24 months executed.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1967649/000162828023033362/0001628280-23-033362-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1967649/000162828023033362/vestiscorpclosing8-k.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-033362

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