secwatch.observer — SEC 8-K summary
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Issuer:     Baldwin Insurance Group, Inc. (BWIN)
CIK:        0001781755
Form:       8-K
Filed at:   2026-01-02T23:59:59+00:00
Accession:  0001781755-26-000004
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 2.01, 2.03, 3.02, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Baldwin Insurance closes $438M cash + 23.2M shares acquisition of Cobbs Allen
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- Completed acquisition of Cobbs Allen Capital Holdings on Jan 1, 2026; aggregate consideration $438M cash and 23.2M shares of BWIN Class A common stock.
- Up to $250M contingent consideration based on net commission/fee thresholds, plus $70M payable at 4th anniversary.
- Amended credit agreement to add $600M incremental Term B loans, bringing total term loans to ~$1.6B; proceeds used to fund cash consideration and general corporate purposes.
- Paul Sparks (co-founder of Cobbs Allen) appointed as Class III director; Grantland Rice IV named board observer under Voting Agreement.
- Cobbs Allen 2024 revenue $282M, net loss $112.2M (attributable to parent); operating loss $88.9M, driven by $129M stock-based compensation.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1781755/000178175526000004/0001781755-26-000004-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1781755/000178175526000004/bwin-20260101.htm
  HTML page:      https://secwatch.observer/filing/0001781755-26-000004

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