Flowserve Corp Enters Acquisition Deal, Terminates Agreement
Ticker: FLS · Form: 8-K · Filed: Oct 10, 2024 · CIK: 30625
| Field | Detail |
|---|---|
| Company | Flowserve CORP (FLS) |
| Form Type | 8-K |
| Filed Date | Oct 10, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $1.25, $800.0 million, $750.0 million, $30.0 million, $400.0 million |
| Sentiment | mixed |
Sentiment: mixed
Topics: acquisition, agreement-termination, financial-obligation
TL;DR
Flowserve just bought something and dumped another deal. Big moves happening.
AI Summary
On October 10, 2024, Flowserve Corporation entered into a material definitive agreement related to its acquisition of a business. The company also reported the termination of a material definitive agreement and the creation of a direct financial obligation. Specific details regarding the acquired business, the termination, and the financial obligation are not fully disclosed in this initial filing.
Why It Matters
This filing indicates significant strategic activity for Flowserve, including an acquisition and the termination of another agreement, which could impact its future business operations and financial structure.
Risk Assessment
Risk Level: medium — The filing involves a material definitive agreement for an acquisition and the termination of another agreement, suggesting potential financial and operational shifts that carry inherent risks.
Key Players & Entities
- Flowserve Corporation (company) — Registrant
- October 10, 2024 (date) — Date of earliest event reported
FAQ
What is the nature of the material definitive agreement Flowserve Corporation entered into?
The filing states that Flowserve Corporation entered into a material definitive agreement related to the acquisition of a business, but specific details are not provided in this report.
What was the other material definitive agreement that was terminated?
The filing indicates the termination of a material definitive agreement, but the specifics of this agreement are not detailed in the provided text.
What direct financial obligation was created by Flowserve Corporation?
The filing reports the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement, but the details of this obligation are not specified.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on October 10, 2024.
What is Flowserve Corporation's Standard Industrial Classification (SIC) code?
Flowserve Corporation's Standard Industrial Classification (SIC) code is 3561, which corresponds to Pumps & Pumping Equipment.
Filing Stats: 1,201 words · 5 min read · ~4 pages · Grade level 11.3 · Accepted 2024-10-10 16:05:29
Key Financial Figures
- $1.25 — nge on which registered Common Stock, $1.25 Par Value FLS New York Stock Exchan
- $800.0 million — redit Agreement (as defined below), the $800.0 million unsecured revolving credit facility (wh
- $750.0 million — lving credit facility (which includes a $750.0 million sublimit for the issuance of letters of
- $30.0 million — the issuance of letters of credit and a $30.0 million sublimit for swing line loans) and the
- $400.0 million — ty by an aggregate amount not to exceed $400.0 million and (2) provide an amortizing $500 mill
- $500 million — 0 million and (2) provide an amortizing $500 million total unsecured term loan facility incl
- $175 million — loan facility inclusive of the previous $175 million term loan amounts outstanding, and a ma
- $500.0 million — 9. On the Closing Date, approximately $500.0 million was drawn under the Second Amended and
- $50.0 million — ing Date, the Company had approximately $50.0 million of revolving loans outstanding, $175.0
- $175.0 million — million of revolving loans outstanding, $175.0 million of term loan amount remaining and appro
- $134.8 million — loan amount remaining and approximately $134.8 million of outstanding letters of credit under
Filing Documents
- d871322d8k.htm (8-K) — 31KB
- d871322dex101.htm (EX-10.1) — 781KB
- 0001193125-24-235900.txt ( ) — 1115KB
- fls-20241010.xsd (EX-101.SCH) — 3KB
- fls-20241010_lab.xml (EX-101.LAB) — 18KB
- fls-20241010_pre.xml (EX-101.PRE) — 11KB
- d871322d8k_htm.xml (XML) — 4KB
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. FLOWSERVE CORPORATION Dated: October 10, 2024 By: /s/ Amy B. Schwetz Amy B. Schwetz Senior Vice President, Chief Financial Officer