HealthEquity Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Financial Statements and Exhibits
$HQY
Business Services
Consumer Discretionary
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
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(801 ) 727-1000
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Item 1.01 Entry into a Material Definitive Agreement
On November 27, 2024, HealthEquity, Inc. (the “Company”) and its wholly owned subsidiary WageWorks, Inc. agreed to settle their lawsuit with Union Mesa 1, LLC related to the termination of a lease in April 2021, which lawsuit was previously disclosed in the Company’s periodic reports on Forms 10-K and 10-Q. Under the terms of the settlement, Union Mesa retained $2.8 million from a letter of credit that it previously received, and the Company and WageWorks jointly agreed to pay Union Mesa an additional $30.0 million. In exchange, the Company, WageWorks and Union Mesa each agreed to dismiss the lawsuit with prejudice and to release the other parties from all claims, as well as all past and future liability under the lease. The Company expects to record the settlement as a merger integration expense in the fiscal quarter ended October 31, 2024, with payment expected to be made during the fiscal quarter ending January 31, 2025.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
| Exhibit No. | Description | ||||
| 104 | Cover Page Interactive Data File (formatted in Inline XBRL) | ||||
SIGNATURE
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.
| HEALTHEQUITY, INC. | |||||||||||
| Date: November 29, 2024 | By: | /s/ James Lucania | |||||||||
| Name: | James Lucania | ||||||||||
| Title: | Executive Vice President and Chief Financial Officer | ||||||||||