Kadant Inc. Files 8-K for May 31, 2024
Ticker: KAI · Form: 8-K · Filed: Jun 3, 2024 · CIK: 886346
Sentiment: neutral
Topics: disclosure, financial-statements, sec-filing
TL;DR
Kadant Inc. filed an 8-K on 5/31, check for Reg FD and financial updates.
AI Summary
Kadant Inc. filed an 8-K on June 3, 2024, reporting events as of May 31, 2024. The filing includes information related to Regulation FD Disclosure and Financial Statements and Exhibits. Kadant Inc. is incorporated in Delaware and headquartered in Westford, Massachusetts.
Why It Matters
This 8-K filing provides official updates and disclosures from Kadant Inc. to the SEC, informing investors about significant corporate events and financial information.
Risk Assessment
Risk Level: low — This filing is a routine 8-K reporting standard disclosures and financial statements, not indicating any immediate high-risk events.
Key Numbers
- 001-11406 — SEC File Number (Kadant Inc.'s SEC registration number)
- 52-1762325 — IRS Employer Identification No. (Kadant Inc.'s tax identification number)
Key Players & Entities
- KADANT INC (company) — Registrant
- 0000886346-24-000124 (filing_id) — Accession Number
- May 31, 2024 (date) — Date of earliest event reported
- June 3, 2024 (date) — Filing Date
- Westford, Massachusetts (location) — Principal Executive Offices
- THERMO FIBERTEK INC (company) — Former Company Name
FAQ
What is the primary purpose of this 8-K filing?
This 8-K filing serves to report events occurring as of May 31, 2024, specifically covering Regulation FD Disclosure and Financial Statements and Exhibits.
When was this 8-K filed with the SEC?
The 8-K filing was made on June 3, 2024.
What is Kadant Inc.'s principal executive office address?
Kadant Inc.'s principal executive offices are located at One Technology Park Drive, Westford, Massachusetts 01886.
What was Kadant Inc. formerly known as?
Kadant Inc. was formerly known as THERMO FIBERTEK INC, with a date of name change on March 28, 1993.
What is Kadant Inc.'s fiscal year end?
Kadant Inc.'s fiscal year ends on December 28.
Filing Stats: 1,156 words · 5 min read · ~4 pages · Grade level 14.3 · Accepted 2024-06-03 12:02:37
Key Financial Figures
- $55 million — ologies LLC and affiliates ("DSTI") for $55 million in cash, subject to certain customary a
Filing Documents
- kai-20240531.htm (8-K) — 34KB
- kaiformprdsticlosingandweb.htm (EX-99.1) — 15KB
- kaiform8kex99206042024.htm (EX-99.2) — 10KB
- kadantlogo_jpga.jpg (GRAPHIC) — 3KB
- kaiform8kex99206042024001.jpg (GRAPHIC) — 47KB
- kaiform8kex99206042024002.jpg (GRAPHIC) — 149KB
- kaiform8kex99206042024003.jpg (GRAPHIC) — 82KB
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- kaiform8kex99206042024007.jpg (GRAPHIC) — 73KB
- kaiform8kex99206042024008.jpg (GRAPHIC) — 59KB
- kaiform8kex99206042024009.jpg (GRAPHIC) — 45KB
- kaiform8kex99206042024010.jpg (GRAPHIC) — 52KB
- kaiform8kex99206042024011.jpg (GRAPHIC) — 49KB
- 0000886346-24-000124.txt ( ) — 1279KB
- kai-20240531.xsd (EX-101.SCH) — 2KB
- kai-20240531_lab.xml (EX-101.LAB) — 21KB
- kai-20240531_pre.xml (EX-101.PRE) — 12KB
- kai-20240531_htm.xml (XML) — 3KB
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. On May 31, 2024, Kadant Inc. ("Kadant" or the "Company") acquired all of the outstanding equity securities of Dynamic Sealing Technologies LLC and affiliates ("DSTI") for $55 million in cash, subject to certain customary adjustments (the " Acquisition "). DSTI is a leader in engineered fluid sealing and transfer solutions for rotating applications across various process industries and will become part of Kadant's Flow Control reporting segment. A copy of the press release issued by the Company in connection with the Acquisition is furnished with this Current Report on Form 8-K and attached hereto as Exhibit 99.1. On June 4, 2024, the Company will hold a webcast and conference call to discuss the transaction described above at 11:00 a.m. eastern time. A copy of our investor presentation with an overview of the Acquisition that will be presented on the webcast and discussed in the conference call is furnished as Exhibit 99.2 to this Current Report on Form 8-K and is posted in the "Investors" section of the Company's website at www.kadant.com. The information contained in this Item 7.01 (including Exhibits 99.1 and 99.2) shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act") or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as expressly set forth by specific reference in such a filing. Safe Harbor Statement The following constitutes a "Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This Current Report on Form 8-K contains forward-looking statements that involve a number of risks and uncertainties, including forward-looking statements about the financial and operating performance of DSTI, the benefits of the Acquisition, and the expected future business and financial performance of DSTI and Kadant. The
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits The following exhibits relating to Item 7.01 shall be deemed to be furnished and not filed. Exhibit No. Description of Exhibits 99.1 Press release issued by the Company on June 3, 2024 announcing the completion of the Acquisition. 99.2 Investor presentation to be presented by the Company on June 4, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 3 KADANT INC. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934 , as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. KADANT INC. Date: June 3, 2024 By /s/ Michael J. McKenney Michael J. McKenney Executive Vice President and Chief Financial Officer 4