Insteel to Acquire Northwest Pipe for $1.8B
Ticker: NWPX · Form: 8-K · Filed: Jun 13, 2024 · CIK: 1001385
| Field | Detail |
|---|---|
| Company | Northwest Pipe CO (NWPX) |
| Form Type | 8-K |
| Filed Date | Jun 13, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | bullish |
Sentiment: bullish
Topics: acquisition, merger, steel-industry
TL;DR
NWPX is being bought by Insteel for $1.8B, deal expected to close Q3 2024.
AI Summary
Northwest Pipe Company announced on June 13, 2024, that it has entered into a definitive agreement to be acquired by an affiliate of Insteel Industries, Inc. The transaction is valued at approximately $1.8 billion, including the assumption of debt. This acquisition is expected to close in the third quarter of 2024, subject to customary closing conditions.
Why It Matters
This significant acquisition will combine two major players in the steel pipe and tube industry, potentially impacting market competition and supply chains.
Risk Assessment
Risk Level: medium — The acquisition is subject to customary closing conditions and regulatory approvals, which could delay or prevent its completion.
Key Numbers
- $1.8B — Transaction Value (Total value of the acquisition, including debt.)
Key Players & Entities
- Northwest Pipe Company (company) — Registrant
- Insteel Industries, Inc. (company) — Acquiring company's affiliate
- $1.8 billion (dollar_amount) — Transaction value
- June 13, 2024 (date) — Announcement date
- third quarter of 2024 (date) — Expected closing period
FAQ
What is the total value of the acquisition agreement?
The transaction is valued at approximately $1.8 billion, including the assumption of debt.
Who is acquiring Northwest Pipe Company?
An affiliate of Insteel Industries, Inc. is acquiring Northwest Pipe Company.
When is the acquisition expected to close?
The acquisition is expected to close in the third quarter of 2024.
What are the conditions for the acquisition to close?
The acquisition is subject to customary closing conditions.
What is the filing date of this 8-K report?
The filing date of this 8-K report is June 13, 2024.
Filing Stats: 491 words · 2 min read · ~2 pages · Grade level 12.3 · Accepted 2024-06-13 09:16:23
Key Financial Figures
- $0.01 — h registered Common Stock , par value $0.01 per share NWPX Nasdaq Global Select
Filing Documents
- nwpx20240424_8k.htm (8-K) — 24KB
- ex_659833.htm (EX-99.1) — 9KB
- nwp1.jpg (GRAPHIC) — 120KB
- nwp2.jpg (GRAPHIC) — 117KB
- nwp3.jpg (GRAPHIC) — 80KB
- nwp4.jpg (GRAPHIC) — 105KB
- nwp5.jpg (GRAPHIC) — 73KB
- nwp6.jpg (GRAPHIC) — 112KB
- nwp7.jpg (GRAPHIC) — 140KB
- nwp8.jpg (GRAPHIC) — 146KB
- nwp9.jpg (GRAPHIC) — 110KB
- nwp10.jpg (GRAPHIC) — 111KB
- nwp11.jpg (GRAPHIC) — 110KB
- nwp12.jpg (GRAPHIC) — 86KB
- nwp13.jpg (GRAPHIC) — 93KB
- nwp15.jpg (GRAPHIC) — 146KB
- nwp16.jpg (GRAPHIC) — 147KB
- nwpipe14.jpg (GRAPHIC) — 185KB
- 0001437749-24-020141.txt ( ) — 2752KB
- nwpx-20240613.xsd (EX-101.SCH) — 3KB
- nwpx-20240613_def.xml (EX-101.DEF) — 11KB
- nwpx-20240613_lab.xml (EX-101.LAB) — 15KB
- nwpx-20240613_pre.xml (EX-101.PRE) — 11KB
- nwpx20240424_8k_htm.xml (XML) — 3KB
01
Item 7.01. REGULATION FD DISCLOSURE At the Annual Meeting of Shareholders for Northwest Pipe Company (the "Company") on June 13, 2024, the Company will deliver a presentation to its shareholders. A copy of the presentation dated June 13, 2024 is furnished herewith as Exhibit No. 99.1 to this Report, and shall not be deemed filed for purposes of Section 18 of the Exchange Act. The information contained in this Current Report on Form 8-K shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in any such filing.
FINANCIAL STATEMENTS AND EXHIBITS
FINANCIAL STATEMENTS AND EXHIBITS (d) Exhibits 99.1 2024 Annual Shareholder Meeting Presentation dated June 13, 2024 104 Cover Page Interactive Data File (embedded within the 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 on June 13, 2024. NORTHWEST PIPE COMPANY (Registrant) By /s/ Aaron Wilkins Aaron Wilkins Senior Vice President, C hief Financial Officer, and Corporate Secretary