SigmaTron International Inc. filed SEC Form 8-K: Termination of a Material Definitive Agreement, Completion of Acquisition or Disposition of Assets, Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing, Material Modification to Rights of Security Holders, Changes in Control of Registrant, Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year, Leadership Update, Other Events, Financial Statements and Exhibits
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(State or Other Jurisdiction of Incorporation)
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(Commission File Number)
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(I.R.S. Employer Identification No.)
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Title of each class
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Trading Symbol(s)
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Name of each exchange on which registered
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Item 1.02. |
Termination of a Material Definitive Agreement.
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The Amended and Restated Credit Agreement, dated as of July 18, 2022, by and among the Company, as borrower, the other loan party thereto and JPMorgan Chase Bank, N.A, as
lender (as amended, restated, supplemented and otherwise modified, the “JPM Credit Agreement”); and
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The Credit Agreement, dated as of July 18, 2022, by and among the Company, as borrower, the financial institutions identified therein, and TCW Asset Management Company LLC, as
administrative agent (as amended, restated, supplemented and otherwise modified, the “TCW Term Loan Agreement”).
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1993 Stock Option Plan;
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2004 Employee Stock Option Plan;
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2011 Employee Stock Option Plan;
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2013 Non-Employee Director Restricted Stock Plan;
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2018 Non-Employee Director Restricted Stock Plan;
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2019 Employee Stock Option Plan;
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2021 Employee Stock Option Plan; and
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2021 Non-Employee Director Restricted Stock Plan.
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Item 2.01. |
Completion of Acquisition or Disposition of Assets.
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Each option to purchase shares of Common Stock (each, a “Company Option”) that was outstanding immediately prior to the Effective Time, whether vested or unvested, and that had
a per share exercise price less than the Merger Consideration (each, an “In-the-Money Option”) automatically accelerated and became fully vested, and was cancelled and automatically converted into the right to receive (without interest)
cash in an amount equal to the product of (i) the total number of shares of Common Stock underlying such In-the-Money Option immediately prior to the Effective Time, multiplied by (ii) the excess, if any, of the Merger Consideration over
the exercise price payable per share of Common Stock applicable to such In-the-Money Option, less applicable tax withholding; and
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Each Company Option that is not an In-the-Money Option that was outstanding and unexercised immediately prior to the Effective Time, whether vested or unvested, was
automatically cancelled without any consideration payable therefor.
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Each warrant to purchase shares of Common Stock (each, a “Company Warrant”) that was outstanding immediately prior to the Effective Time was cancelled and converted into the
right to receive (without interest) an amount in cash equal to the product of (x) the total number of Shares underlying such Company Warrant multiplied by (y) the excess, if any, of the Merger Consideration over the applicable exercise
price of such Company Warrant; and
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The holder of each Company Warrant, in lieu of Shares immediately theretofore purchasable and receivable upon the exercise of such Company Warrant, was entitled only to receive
such cash amount in respect of such Company Warrant and had no other rights pursuant to such holder’s ownership of such Company Warrant; provided, that any such Company Warrant with an exercise price per share that was equal to or greater
than the Merger Consideration was cancelled with no consideration payable therefor.
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Item 3.01. |
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
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Item 3.03. |
Material Modification to Rights of Security Holders.
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Item 5.01. |
Changes in Control of Registrant.
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Item 5.02. |
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers.
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Item 5.03. |
Amendment to Articles of Incorporation or Bylaws; Change in Fiscal Year.
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Item 8.01. |
Other Events.
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Item 9.01. |
Financial Statements and Exhibits.
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(d)
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Exhibits
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Exhibit
No.
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Description
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Agreement and Plan of Merger, dated as of May 20, 2025, by and among Transom Axis AcquireCo, LLC, Transom Axis MergerSub, Inc. and SigmaTron International,
Inc. (incorporated by reference to Exhibit 2.1 to the Company’s Current Report on Form 8-K filed on May 21, 2025 (File No. 000-23248)).
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Amended and Restated Certificate of Incorporation of SigmaTron International, Inc.
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Amended and Restated Bylaws of SigmaTron International, Inc.
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Press release, dated July 28, 2025, issued by SigmaTron International, Inc. and Transom Axis AcquireCo, LLC
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104
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Cover Page Interactive Data File (embedded within the Inline XBRL document)
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SIGMATRON INTERNATIONAL, INC.
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Date: July 28, 2025
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By:
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/s/ Gary R. Fairhead
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Gary R. Fairhead
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President
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