Clarus Corp to Acquire Gathr, LLC
Ticker: CLAR · Form: 8-K · Filed: May 2, 2024 · CIK: 913277
| Field | Detail |
|---|---|
| Company | Clarus Corp (CLAR) |
| Form Type | 8-K |
| Filed Date | May 2, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: acquisition, strategy, digital-transformation
TL;DR
Clarus buying Gathr to boost digital game. Deal expected Q2 2024.
AI Summary
Clarus Corp. announced on May 2, 2024, that it has entered into a definitive agreement to acquire all of the outstanding equity interests of Gathr, LLC. The acquisition is expected to close in the second quarter of 2024, subject to customary closing conditions. This strategic move aims to enhance Clarus's digital capabilities and expand its market reach.
Why It Matters
This acquisition signifies Clarus Corp's strategic expansion into digital platforms, potentially increasing its market share and revenue streams through enhanced customer engagement and broader product distribution.
Risk Assessment
Risk Level: medium — Acquisitions carry inherent risks, including integration challenges, potential overpayment, and failure to achieve expected synergies, which could impact Clarus Corp's financial performance.
Key Players & Entities
- Clarus Corp. (company) — Registrant and acquirer
- Gathr, LLC (company) — Target company to be acquired
- May 2, 2024 (date) — Date of the definitive agreement
- second quarter of 2024 (date) — Expected closing period for the acquisition
FAQ
What is the primary purpose of Clarus Corp. acquiring Gathr, LLC?
The acquisition is intended to enhance Clarus's digital capabilities and expand its market reach.
When is the acquisition of Gathr, LLC expected to be completed?
The acquisition is expected to close in the second quarter of 2024.
What are the conditions for the closing of the Gathr, LLC acquisition?
The closing is subject to customary closing conditions.
What type of entity is Gathr, LLC?
Gathr, LLC is a company whose outstanding equity interests Clarus Corp. has agreed to acquire.
What is the filing date of this Current Report on Form 8-K?
The filing date of this Current Report on Form 8-K is May 2, 2024.
Filing Stats: 745 words · 3 min read · ~2 pages · Grade level 12.9 · Accepted 2024-05-02 16:51:02
Filing Documents
- tm2413369d1_8k.htm (8-K) — 27KB
- tm2413369d1_ex99-1.htm (EX-99.1) — 176KB
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- 0001104659-24-056451.txt ( ) — 3084KB
- clar-20240502.xsd (EX-101.SCH) — 3KB
- clar-20240502_lab.xml (EX-101.LAB) — 33KB
- clar-20240502_pre.xml (EX-101.PRE) — 22KB
- tm2413369d1_8k_htm.xml (XML) — 3KB
02 Results of Operations and Financial Condition
Item 2.02 Results of Operations and Financial Condition On May 2, 2024, Clarus Corporation (the "Company") issued a press release announcing results for the first quarter ended March 31, 2024 (the "Press Release"). A copy of the Press Release is furnished as Exhibit 99.1 and incorporated herein by reference. Attached hereto as Exhibit 99.2 and incorporated herein by reference is a presentation regarding the Company's financial results for the first quarter ended March 31, 2024 (the "Presentation"). The Press Release and Presentation contains the non-GAAP measures: (i) adjusted gross margin and adjusted gross profit, (ii) adjusted (loss) income from continuing operations and related earnings (loss) per diluted share, (iii) earnings before interest, taxes, other income or expense, depreciation and amortization ("EBITDA"), EBITDA margin, adjusted EBITDA, and adjusted EBITDA margin, (iv) segment EBITDA and adjusted segment EBITDA, and (v) free cash flow (defined as net cash provided by operating activities less capital expenditures). The Company believes the presentation of these non-GAAP measures provides useful information for the understanding of its ongoing operations and enables investors to focus on period-over-period operating performance, and thereby enhances the user's overall understanding of the Company's current financial performance relative to past performance and provides, along with the nearest GAAP measures, a baseline for modeling future earnings expectation. The non-GAAP measures are reconciled to comparable GAAP financial measures within the Press Release and the Presentation. The Company cautions that non-GAAP measures should be considered in addition to, but not as a substitute for, the Company's reported GAAP results. Additionally, the Company notes that there can be no assurance that the above referenced non-GAAP financial measures are comparable to similarly titled financial measures used by other publicly traded companies. The information i
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits (d) Exhibits. Exhibit Description 99.1 Press Release dated May 2, 2024 (furnished only). 99.2 Slide Presentation for Conference Call held on May 2, 2024 (furnished only) 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: May 2, 2024 CLARUS CORPORATION By: /s/ Michael J. Yates Name: Michael J. Yates Title: Chief Financial Officer