Brady Corp Files 8-K: Material Agreement & Exhibits

TL;DR

Brady Corp filed an 8-K on 3/15/24 for a material agreement and exhibits - details TBD.

AI Summary

On March 15, 2024, Brady Corporation filed an 8-K report indicating an entry into a material definitive agreement and the filing of financial statements and exhibits. The filing does not disclose specific details of the agreement or the financial statements.

Why It Matters

This filing signals a significant business event for Brady Corp, potentially involving a new contract or transaction that could impact its financial performance and strategic direction.

Risk Assessment

Risk Level: low — The filing is procedural and does not contain information that immediately suggests significant risk or opportunity.

Key Players & Entities

• Brady Corporation (company) — Registrant
• March 15, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.01 — ass A Nonvoting Common Stock, par value $0.01 per share BRC New York Stock Exchange

Filing Documents

• brc-20240315.htm (8-K) — 38KB
• exhibit991pressrelease.htm (EX-99.1) — 14KB
• 0000746598-24-000012.txt ( ) — 189KB
• brc-20240315.xsd (EX-101.SCH) — 2KB
• brc-20240315_lab.xml (EX-101.LAB) — 24KB
• brc-20240315_pre.xml (EX-101.PRE) — 14KB
• brc-20240315_htm.xml (XML) — 3KB

01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT

Item 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT On March 15, 2024, Braton Europe S.A.R.L., a wholly-owned subsidiary of Brady Corporation (the "Company"), entered into a Put Option Letter (the "Put Option Letter") with MML Capital Europe VI II S.A. and other institutional and individual holders (collectively, the "Sellers"), which own directly or indirectly 100% of the securities issued by Gravotech Holding ("Gravotech"), a French limited liability company (socit par actions simplifie). Under the terms of the Put Option Letter, the Company has irrevocably and unconditionally agreed to acquire 100% of the share capital and voting rights of Gravotech (the "Acquisition") on the terms and conditions set forth in the form of a draft sale and purchase agreement attached to the Put Option Letter as Schedule 1 (the "SPA"), subject only to the sending by the Sellers on or prior to the Expiry Date (as defined below), of a notice setting forth the Sellers' decision to sell 100% of the securities issued by Gravotech to the Company in accordance with the terms and conditions of the draft SPA (the "Put Option"). Under the Put Option Letter, before the Sellers can decide whether to exercise the Put Option and enter into the draft SPA, the Gravotech Marking, a wholly-owned subsidiary of Gravotech, employees' representative bodies in France ("Works' Council") must be informed of and consulted on the contemplated sale of Gravotech to the Company, and the Works' Council must have delivered, or be deemed to have delivered, a final (non-binding) opinion on such transaction (the "Consultation Process"). The Sellers have agreed under the Put Option Letter to (i) initiate or cause the Consultation Process to be initiated promptly from March 15, 2024, and in any case no later than ten (10) business days following the date thereof, and (ii) to use their best efforts to obtain an opinion (whether favorable or not) from the Works' Council in relation to such proposed transaction promp

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS In this report, statements that are not reported financial results or other historic information are "forward-looking statements." These forward-looking statements relate to, among other things, the Company's future financial position, business strategy, targets, projected sales, costs, earnings, capital expenditures, debt levels and cash flows, and plans and objectives of management for future operations. The use of words such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe," "should," "project," "plan" or similar terminology are generally intended to identify forward-looking statements. These forward-looking statements by their nature address matters that are, to different degrees, uncertain and are subject to risks, assumptions, and other factors, some of which are beyond Brady's control, that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including any statements regarding the potential timing of or completion of the acquisition of Gravotech, and any financial impacts of that transaction. For Brady, uncertainties arise from: the occurrence of any event, change or other circumstances that could give rise to the termination of the offer to acquire Gravotech; the expected timing and likelihood of completion of the proposed transaction with Gravotech, including the timing, receipt and terms and conditions of any required governmental and regulatory approvals of the offer that could reduce anticipated benefits or cause the parties to abandon the transaction; the risk that the proposed offer and its announcement could have an adverse effect on the ability of Brady and Gravotech to retain customers and retain and hire key personnel and maintain relationships with their suppliers and customers and on their operating results and businesses generally; increased cost of raw materials and labor as well as material shortages and supply chain disruption

01 FINANCIAL STATEMENTS AND EXHIBITS

Item 9.01 FINANCIAL STATEMENTS AND EXHIBITS (d) Exhibits EXHIBIT NUMBER DESCRIPTION 99.1 Press Release of Brady Corporation, dated March 15, 2024, announcing its plans to acquire Gravotech Holding. 104 Cover Page Interactive Data File (embedded within Inline XBRL document). 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. BRADY CORPORATION Date: March 15, 2024 /s/ ANN E. THORNTON Ann E. Thornton Chief Financial Officer, Chief Accounting Officer and Treasurer

View Full Filing

View this 8-K filing on SEC EDGAR