secwatch.observer — SEC 8-K summary
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Issuer:     Concentrix Corp (CNXC)
CIK:        0001803599
Form:       8-K
Filed at:   2023-09-25T23:59:59+00:00
Accession:  0001803599-23-000187
Event type: m_and_a
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 2.01, 2.03, 3.02, 5.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Concentrix closes $4B Webhelp acquisition, issues ~14.9M shares and €700M seller note
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- Transaction valued at ~$4B including net debt; Concentrix paid €488.7M cash, ~14.9M shares, plus up to 750K earnout shares.
- Combined co. operates as Concentrix + Webhelp; pre-deal Concentrix shareholders hold 77.6%, Webhelp sellers hold 22.4%.
- Olivier Duha (Webhelp co-founder/former CEO) and Nicolas Gheysens (GBL partner) appointed to Board; Duha named Vice Chair.
- Issued €700M seller promissory note at 2% interest due Sept 2025; funded deal with $2.15B senior notes and ~$294.7M term loan.
- Repaid ~€1.8B of Webhelp existing debt using proceeds from financing and cash on hand.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1803599/000180359923000187/0001803599-23-000187-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1803599/000180359923000187/cnxc-20230925.htm
  HTML page:      https://secwatch.observer/filing/0001803599-23-000187

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