secwatch.observer — SEC 8-K summary
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Issuer:     AVID TECHNOLOGY, INC. (—)
CIK:        0000896841
Form:       8-K
Filed at:   2023-11-08T23:59:59+00:00
Accession:  0001839882-23-030181
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.90
Item codes: 1.01, 1.02, 2.01, 2.03, 3.01, 3.03, 5.01, 5.02, 5.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

STG completes acquisition of Avid Technology for $27.05/share, ~$1.4B
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- Acquisition by STG affiliate completed; Avid stockholders receive $27.05 per share in cash, total ~$1.4B.
- Avid common stock ceased trading on Nasdaq prior to market open on Nov 7, 2023; deregistration to follow.
- New board appointed: William Chisholm, Jeff Rosica, Philip Anderson, Patrick Fouhy replace prior directors.
- CFO Kenneth Gayron departed effective Nov 8, 2023; departure not due to disagreement with operations.
- Credit agreement provides $400M USD term loan, ~$200M euro term loan, and $60M revolver; secured by assets.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/896841/000183988223030181/0001839882-23-030181-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/896841/000183988223030181/avid-8k_110723.htm
  HTML page:      https://secwatch.observer/filing/0001839882-23-030181

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