secwatch.observer — SEC 8-K summary
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Issuer:     CONDUENT Inc (CNDT)
CIK:        0001677703
Form:       8-K
Filed at:   2026-10-06T18:25:59+00:00
Accession:  0001677703-26-000123
Event type: m_and_a
Sentiment:  positive
Materiality: 0.70
Item codes: 1.01, 2.01, 7.01, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

Conduent closes $164M Public Transit sale to Modaxo; $125M net proceeds to repay revolver
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- On Oct. 1, 2026, Conduent closed the sale of its Public Transit Business to Modaxo for a $164M base purchase price, receiving $140M cash at closing.
- Buyer retained a $10M purchase-price holdback (up to one year), a $12M special holdback tied to former-customer target dates, and $2M other closing adjustments; $15M cash transferred to Buyer.
- Net proceeds of $125M will repay the revolving credit facility; Conduent expects $3M transaction costs and $7M income taxes in Q4 2026; pro forma long-term debt drops to $572M from $697M.
- Pro forma 2025 revenue is $2.671B versus $3.042B historical, removing $371M of Transit revenue; 2024 pro forma revenue is $3.015B versus $3.356B.
- Sept. 30 amendment made Modaxo France sole buyer and deferred India assets to a later closing subject to Indian approval; Tolling sale to Quarterhill expected before end-2026.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1677703/000167770326000123/0001677703-26-000123-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1677703/000167770326000123/cndt-20260930.htm
  HTML page:      https://secwatch.observer/filing/0001677703-26-000123

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