secwatch.observer — SEC 8-K summary
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Issuer:     AVANTAX, INC. (—)
CIK:        0001068875
Form:       8-K
Filed at:   2023-11-27T23:59:59+00:00
Accession:  0001999371-23-000541
Event type: m_and_a
Sentiment:  neutral
Materiality: 1.00
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

Cetera Holdings completes acquisition of Avantax for $26/share; stock delisted from Nasdaq
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- Avantax shareholders receive $26.00 per share in cash; total consideration ~$1.3B including debt repayment.
- Financing includes $2.44B term loan facility and $700M of 10.000% Senior Secured Notes due 2030.
- Avantax now private; common stock no longer traded on Nasdaq; all directors and officers replaced.
- Avantax operates as unique community within Cetera with 3,111 financial professionals and $82.3B AUA.
- Prior credit agreement terminated; all equity awards cashed out at Merger Consideration.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1068875/000199937123000541/0001999371-23-000541-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1068875/000199937123000541/avta_8k-112723.htm
  HTML page:      https://secwatch.observer/filing/0001999371-23-000541

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