secwatch.observer — SEC 8-K summary
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Issuer:     Evolent Health, Inc. (EVH)
CIK:        0001628908
Form:       8-K
Filed at:   2022-11-17T23:59:59+00:00
Accession:  0001628908-22-000154
Event type: m_and_a
Sentiment:  positive
Materiality: 0.90
Item codes: 1.01, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Evolent Health acquires NIA for $650M; targets $85M EBITDA by 2024
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- Total consideration of $650M upfront plus up to $150M earnout based on 2023 performance.
- $250M of upfront paid in Evolent stock at $29.50/share (24% premium to prior close); sellers subject to lock-up.
- Acquisition expected to add $85M run-rate Adjusted EBITDA by Q4 2024, including $20M from expanded Centene contracts through 2027.
- Deal funded with $265M debt facilities from Ares ($25M ABL + $240M term loan) and $175M convertible preferred stock from Ares.
- Evolent sees cross-sell opportunity expand from $16B to $50B; CEO says accretive to margins and cash flow.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1628908/000162890822000154/0001628908-22-000154-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1628908/000162890822000154/evh-20221117.htm
  HTML page:      https://secwatch.observer/filing/0001628908-22-000154

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