Applied Industrial Technologies Enters Material Definitive Agreement
Ticker: AIT · Form: 8-K · Filed: Nov 22, 2024 · CIK: 109563
Sentiment: neutral
Topics: material-agreement, corporate-actions
TL;DR
APPLIED INDUSTRIAL TECHNOLOGIES (APPLIED) signed a big deal. Details to follow.
AI Summary
On November 21, 2024, Applied Industrial Technologies, Inc. entered into a material definitive agreement. The filing also includes Regulation FD disclosures and financial statements and exhibits. The company, formerly known as Bearings Inc. /OH/ and Brown Jim Stores Inc., is incorporated in Ohio and headquartered in Cleveland.
Why It Matters
This filing indicates a significant new agreement for Applied Industrial Technologies, which could impact its future operations and financial performance.
Risk Assessment
Risk Level: medium — Entering into material definitive agreements can carry inherent risks related to the terms, counterparty, and execution of the agreement.
Key Players & Entities
- APPLIED INDUSTRIAL TECHNOLOGIES, INC. (company) — Registrant
- November 21, 2024 (date) — Date of earliest event reported
- Ohio (jurisdiction) — State of incorporation
- Cleveland (location) — Address of principal executive offices
- Bearings Inc. /OH/ (company) — Former company name
- Brown Jim Stores Inc. (company) — Former company name
FAQ
What is the nature of the material definitive agreement entered into by Applied Industrial Technologies?
The filing states that Applied Industrial Technologies, Inc. entered into a material definitive agreement on November 21, 2024, but the specific details of the agreement are not provided in this excerpt.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on November 21, 2024.
In which state is Applied Industrial Technologies, Inc. incorporated?
Applied Industrial Technologies, Inc. is incorporated in Ohio.
What were some of the former names of Applied Industrial Technologies, Inc.?
Applied Industrial Technologies, Inc. was formerly known as Bearings Inc. /OH/ and Brown Jim Stores Inc.
What are the primary items disclosed in this 8-K filing?
This 8-K filing discloses the entry into a material definitive agreement, Regulation FD disclosures, and financial statements and exhibits.
Filing Stats: 1,291 words · 5 min read · ~4 pages · Grade level 14.6 · Accepted 2024-11-22 08:15:59
Key Financial Figures
- $272 m — rests of Hydradyne for consideration of $272 million, subject to customary post-closin
Filing Documents
- d909436d8k.htm (8-K) — 33KB
- d909436dex21.htm (EX-2.1) — 453KB
- d909436dex991.htm (EX-99.1) — 7KB
- g909436g1121091634864.jpg (GRAPHIC) — 5KB
- g909436g30p92.jpg (GRAPHIC) — 3KB
- 0001193125-24-263833.txt ( ) — 738KB
- ait-20241121.xsd (EX-101.SCH) — 3KB
- ait-20241121_lab.xml (EX-101.LAB) — 17KB
- ait-20241121_pre.xml (EX-101.PRE) — 11KB
- d909436d8k_htm.xml (XML) — 3KB
FINANCIAL STATEMENTS AND EXHIBITS
FINANCIAL STATEMENTS AND EXHIBITS (d) Exhibits Exhibit No. Description 2.1* Securities Purchase Agreement, dated November 21, 2024, by and among Applied Industrial Technologies, Inc., LOR, Inc., and Hydradyne, LLC 99.1 Press Release, dated November 22, 2024 104 The cover page from this Current Report on Form 8-K, formatted in Inline XBRL. * Certain exhibits and schedules have been omitted pursuant to Item 601(a)(5) of Regulation S-K. A copy of any omitted schedule will be furnished supplementally to the SEC upon request; provided, however, that the parties may request confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended, for any document so furnished.
SIGNATURES
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. Applied Industrial Technologies, Inc. By: /s/ Jon S. Ploetz Jon S. Ploetz, Vice President-General Counsel & Secretary Dated: November 22, 2024