Clarus Corp Files 8-K: Asset Deal & Agreement Termination
Ticker: CLAR · Form: 8-K · Filed: Mar 6, 2024 · CIK: 913277
| Field | Detail |
|---|---|
| Company | Clarus Corp (CLAR) |
| Form Type | 8-K |
| Filed Date | Mar 6, 2024 |
| Risk Level | medium |
| Pages | 5 |
| Reading Time | 6 min |
| Key Dollar Amounts | $135,013,124, $175 m, $37.9 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: acquisition, disposition, agreement-termination
TL;DR
Clarus Corp terminated a deal and closed an asset acquisition/disposition on Feb 29th. Big moves!
AI Summary
Clarus Corporation announced on February 29, 2024, the termination of a material definitive agreement and the completion of an acquisition or disposition of assets. The company, formerly known as Black Diamond, Inc., is incorporated in Delaware and headquartered in Salt Lake City, UT.
Why It Matters
This filing indicates significant corporate actions, including asset transactions and the ending of a material contract, which could impact Clarus Corp's future operations and financial standing.
Risk Assessment
Risk Level: medium — The termination of a material definitive agreement and completion of asset disposition/acquisition suggests significant operational or financial changes that warrant closer examination.
Key Players & Entities
- Clarus Corp (company) — Registrant
- Black Diamond, Inc. (company) — Former company name
- February 29, 2024 (date) — Date of earliest event reported
- 2084 East 3900 South, Salt Lake City, UT (location) — Company address
FAQ
What was the nature of the material definitive agreement that was terminated?
The filing does not specify the nature of the material definitive agreement that was terminated.
What specific assets were acquired or disposed of by Clarus Corp?
The filing does not provide details on the specific assets involved in the acquisition or disposition.
What is the effective date of the asset acquisition or disposition?
The earliest event reported is February 29, 2024, which is also the date as of change.
What was Clarus Corp's former name?
Clarus Corp's former name was Black Diamond, Inc.
In which state is Clarus Corp incorporated?
Clarus Corp is incorporated in Delaware.
Filing Stats: 1,450 words · 6 min read · ~5 pages · Grade level 13.8 · Accepted 2024-03-06 16:07:42
Key Financial Figures
- $135,013,124 — us Corporation (the "Company") directed $135,013,124 of the proceeds from the closing of the
- $175 m — es to the Buyer for a purchase price of $175 million, subject to a customary working c
- $37.9 million — realized net proceeds of approximately $37.9 million after payment of all outstanding amount
Filing Documents
- tm248087d1_8k.htm (8-K) — 36KB
- tm248087d1_ex99-1.htm (EX-99.1) — 11KB
- tm248087d1_ex99-2.htm (EX-99.2) — 149KB
- tm248087d1_ex99-1img001.jpg (GRAPHIC) — 3KB
- 0001104659-24-031473.txt ( ) — 390KB
- clar-20240229.xsd (EX-101.SCH) — 3KB
- clar-20240229_lab.xml (EX-101.LAB) — 33KB
- clar-20240229_pre.xml (EX-101.PRE) — 22KB
- tm248087d1_8k_htm.xml (XML) — 3KB
01 Financial
Item 9.01 Financial (b) Pro Forma Financial Information. The unaudited interim pro forma condensed consolidated statement of operations for the three months ended September 30, 2023, the unaudited pro forma condensed consolidated statement of operations for the year ended December 31, 2022 and the unaudited interim pro forma condensed consolidated balance sheet as of September 30, 2023 of the Company is hereby included as Exhibit 99.2 to this Report. (d) Exhibits. The following exhibits are hereby filed as part of this Report. Exhibit Description 2.1 Purchase and Sale Agreement, by and among Bullseye Acquisitions, LLC, Everest/Sapphire Acquisition, LLC, and Clarus Corporation, dated as of December 29, 2023 (incorporated herein by reference to Exhibit 2.1 to the Company's Current Report on Form 8-K filed January 3, 2024). 99.1 Press Release dated February 29, 2024 (furnished only). 99.2 Pro Forma Financial Information of Clarus Corporation. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: March 6, 2024 CLARUS CORPORATION By: /s/ Michael J. Yates Name: Michael J. Yates Title: Chief Financial Officer