Federated Hermes Inc. filed SEC Form 8-K: Other Events, Financial Statements and Exhibits
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Investment Managers
Finance
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 7, 2025
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(412 ) 288-1900
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ITEM 8.01 OTHER EVENTS.
On April 7, 2025, Federated Hermes Limited, a London, United Kingdom (U.K.)-based subsidiary of Federated Hermes, Inc., entered into a share purchase agreement with Rivington Energy (Management) Limited (Rivington) and its shareholders regarding the acquisition of a majority (60%) equity interest in Rivington. Rivington is a U.K.-based renewable energy project development business. The acquisition was simultaneously completed on April 7, 2025.
The share purchase agreement provided for an upfront cash payment of £23.7 million ($30.6 million) for the majority (60%) equity interest in Rivington, including stamp duty taxes. The upfront cash payment included a £12.9 million ($16.7 million) capital contribution principally to provide Rivington funds for growth capital and debt repayment. The share purchase agreement also provides for a series of contingent purchase price payments, which can total as much as £10.7 million ($13.8 million) in the aggregate and can become payable annually over the next four years based on certain levels of revenue growth. Rivington had revenues of approximately £7.4 million ($9.5 million) in 2024. The share purchase agreement and other related transaction documents contain certain negotiated warranties, covenants, indemnities, and other terms customary for similar transactions in the U.K.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
(d) Exhibits:
| Exhibit 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | ||||||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| FEDERATED HERMES, INC. | ||||||||||||||
| (REGISTRANT) | ||||||||||||||
| Date | April 7, 2025 | By: | /s/ Thomas R. Donahue | |||||||||||
| Thomas R. Donahue | ||||||||||||||
| Chief Financial Officer | ||||||||||||||