Highest-materiality recent filing
GAAP net loss $38.8M ($0.55 diluted EPS); non-GAAP diluted EPS $0.34 modestly above internal expectations.
HNI closes $1.92B acquisition of Steelcase; pro forma net sales $5.69B in FY2024
Total purchase consideration $1.92B; Steelcase shareholders got $7.20 cash + 0.2192 HNI shares per share.
HNI FY25 non-GAAP EPS $3.74 (+22%); completed Steelcase acquisition, $120M synergies targeted
FY25 GAAP diluted EPS $1.11; non-GAAP diluted EPS $3.74 (+22% YoY), fourth straight year of double-digit non-GAAP EPS growth.
HNI Corp to exit Wayland NY plant, consolidate production; expects $7.5-8M annual savings
Closing Wayland, NY facility in 2027; production shifted to other North American plants.
HNI completes acquisition of Steelcase; combined revenue $5.8B
HNI completes acquisition of Steelcase; combined pro forma annual revenues of $5.8B.
HNI exchange offer expires with 78% of Steelcase notes tendered; acquisition approved, close Dec 10
78% ($351M) of Steelcase's $450M 5.125% notes tendered in exchange for new HNI notes.
HNI and Steelcase shareholders approve acquisition; closing expected Dec 10, 2025
HNI shareholders approved stock issuance for Steelcase acquisition (96.88% of votes cast; ~84.52% of outstanding).
HNI-Steelcase merger election deadline set for Dec. 4, 2025 at 5pm ET
Deadline for Steelcase shareholders to elect cash/stock/mixed consideration is 5:00 p.m. ET on Dec. 4, 2025.
Amendment No. 1 to Credit Agreement sets a $105,000,000 threshold for springing maturity dates on revolving, Term Loan A, and Term Loan B facilities.
HNI-Steelcase merger clears HSR waiting period; shareholder vote still required
HSR waiting period expired at 11:59 p.m. ET on October 31, 2025.
HNI Q3 non-GAAP EPS $1.10 (+7% YoY); guides double-digit EPS growth in 2025; Steelcase deal on track
Non-GAAP diluted EPS $1.10 (+7% YoY); GAAP EPS $0.88 (-10% YoY). Net sales $683.8M (+1.7% YoY).
HNI extends exchange offer for Steelcase notes to Dec 5; 77.95% tendered as of Oct 27
HNI extended expiration of exchange offer for outstanding Steelcase 5.125% Notes due 2029 to Dec 5, 2025.
Holders representing 77.83% ($350.2M) of Steelcase's 5.125% Notes due 2029 tendered and consented by early deadline.
HNI launches $450M exchange offer for Steelcase notes; deal targeted for Q4 2025 close
Exchange offer for up to $450M principal of 5.125% Steelcase Notes due 2029 for new HNI secured notes with identical rate and maturity.
HNI signs $1.725B credit facility to fund Steelcase acquisition
Credit facility includes $425M revolver, $500M term loan A, and up to $800M term loan B.
HNI Corp to acquire Steelcase Inc. for $7.20 cash plus 0.2192 shares per Steelcase share
Merger consideration per Steelcase share: mixed of 0.2192 HNI shares + $7.20 cash, or all cash, or all stock.
HNI reports Q2 2025 earnings beat: EPS $1.02 GAAP, $1.11 non-GAAP, revenue up 7% YoY
GAAP diluted EPS $1.02 (+36% YoY); non-GAAP diluted EPS $1.11 (+41% YoY); net income $48.2M.
HNI appoints Brandon Bullock as COO; base salary raised to $526,900
Brandon Bullock appointed COO effective June 16, 2025; previously President of HON Company subsidiary.
HNI Corp annual meeting: all proposals pass, directors reelected
Directors Jeffrey D. Lorenger, Larry B. Porcellato, and David M. Roberts elected with strong support.
On June 16, 2025, B. Brandon Bullock III was appointed Chief Operating Officer (“COO”) of HNI Corporation (the “Corporation” or “HNI”) with immediate effect (the “Effective Date”).
Max materiality 1.00 · Median 0.70 · Most common event m_and_a