Sonoco Products Co. Files 8-K with Corporate Details

Ticker: SON · Form: 8-K · Filed: Sep 13, 2024 · CIK: 91767

Sentiment: neutral

Topics: corporate-filing, 8-K

Related Tickers: SON

TL;DR

SON confirms HQ address and NYSE listing in routine 8-K filing.

AI Summary

On September 13, 2024, Sonoco Products Company (SON) filed an 8-K report. The filing confirms the company's principal executive offices are located at 1 N. Second St., Hartsville, South Carolina, 29550, and its telephone number is (843) 383-7000. The report also lists Sonoco's common stock as trading under the symbol SON on the New York Stock Exchange.

Why It Matters

This 8-K filing serves as a standard corporate update, confirming essential details about Sonoco Products Company's operational base and stock exchange listing.

Risk Assessment

Risk Level: low — This filing is a routine corporate disclosure and does not contain material non-public information that would typically impact stock price.

Key Players & Entities

FAQ

What is the primary purpose of this 8-K filing for Sonoco Products Company?

The primary purpose of this 8-K filing is to report current information, specifically confirming the company's principal executive offices, telephone number, and the exchange on which its common stock is traded.

On what date was this 8-K report filed?

The report states that the date of the earliest event reported is September 13, 2024.

Where are Sonoco Products Company's principal executive offices located?

Sonoco Products Company's principal executive offices are located at 1 N. Second St., Hartsville, South Carolina, 29550.

What is the trading symbol for Sonoco Products Company's common stock and on which exchange does it trade?

The trading symbol for Sonoco Products Company's common stock is SON, and it trades on the New York Stock Exchange.

Does this filing indicate any changes in Sonoco's business operations or financial performance?

No, this filing is a routine current report and does not indicate any changes in business operations or financial performance; it primarily confirms corporate details.

Filing Stats: 1,950 words · 8 min read · ~7 pages · Grade level 14.7 · Accepted 2024-09-13 16:27:37

Key Financial Figures

Filing Documents

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. Term Loan Commitments On September 13, 2024, Sonoco Products Company ("Sonoco" or the "Compan y") announced that, in order to finance a portion of the cash con sideration for the Company's proposed acquisition of all of the issued and outstanding equity interest in Titan Holdings I B.V., a private limited liability company ( besloten vennootschap met beperkte aansprakelijkheid ) incorporated under the laws of the Netherlands ("Eviosys," and such proposed acquisition, the "Eviosys Acquisition"), it had obtained commitments from certain lenders for an approximately $1.2 billion senior unsecured term loan facility (the "Term Loan Facility"). Funding of the Term Loan Facility is expected to take place substantially concurrently with the closing of the Eviosys Acquisition, and the Term Loan Facility is expected to mature 364 days following the funding date. The Company expects to enter into a definitive agreement with respect to the Term Loan Facility on or around September 16, 2024. After the execution of a definitive agreement, the commitments in respect of the Term Loan Facility will repla ce a corresponding amount of the commitments in respect of the Company's existing 364-day senior unsecured bridge term loan facility, in accordance with the terms of the bridge facility commitment letter. Unaudited Supplemental Non-GAAP Pro Forma Financial Information Unaudited supplemental non-GAAP pro forma condensed combined financial measures of the Company and Eviosys for the year ended December 31, 2023 and the six months ended June 30, 2024 are attached as Exhibit 99.4 to this Current Report on Form 8-K (this "Current Report") and incorporated herein by reference. The information in this Item 7.01, including Exhibit 99.4 attached hereto, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be

01 Other Events

Item 8.01 Other Events As previously announced, on June 22, 2024, the Company, Titan Holdings Coperatief U.A., a cooperative with excluded liability ( coperatie met uitgesloten aansprakelijkheid ), incorporated under the laws of the Netherlands (the "Seller"), and Eviosys entered into a Put Option Agreement (the "Put Option Agreement") pursuant to which the Company made a binding offer to acquire, on the terms and conditions set forth in the Equity Purchase Agreement, dated as of June 22, 2024, by and among the Company, the Seller and Eviosys (the "Purchase Agreement"), all of the issued and outstanding equity interests in Eviosys. Pursuant to the Put Option Agreement, on August 22, 2024, following the completion of a consultation process with the European Works Council of Eviosys and its subsidiaries, the Seller delivered an exercise notice to the Company accepting its offer and delivered to the Company a copy of the Purchase Agreement, executed by Eviosys and the Seller. The Eviosys Acquisition is expected to close in the fourth quarter of 2024 or the first quarter of 2025. The Company is filing Exhibits 99.1, 99.2 and 99.3 to this Current Report to provide certain financial information with respect to Eviosys and its subsidiaries and the proposed Eviosys Acquisition. Included in this Current Report as Exhibit 99.1 are the audited consolidated financial statements of Eviosys as of December 31, 2023 and 2022 and for years ended December 31, 2023 and 2022, the notes related thereto and the related Report of Independent Auditors. Included in this Current Report as Exhibit 99.2 are the unaudited condensed consolidated financial statements of Eviosys as of June 30, 2024 and December 31, 2023 and for the six months ended June 30, 2024 and 2023 and the notes related thereto. Also included in this Current Report as Exhibit 99.3 are the unaudited pro forma condensed combined financial statements described in Item 9.01(b) below. The pro forma financial information inc

Forward-Looking Statements

Forward-Looking Statements Certain statements made in this communication are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "assume", "believe", "committed", "continue", "could", "estimate", "expect", "focused", "future", "likely", "may", "ongoing", "outlook", "potential", "seek", "strategy", "will", or the negative thereof, and similar expressions identify forward-looking statements. Forward-looking statements in this communication include, but are not limited to, statements regarding the pending Eviosys Acquisition, the anticipated effects and timing thereof and the Company's financing plans with respect thereto. These forward-looking statements are made based on current expectations, estimates and projections about the Company's industry, management's beliefs and certain assumptions made by management. Such information includes, without limitation, discussions as to estimates, perceived opportunities, expectations, beliefs, plans, strategies, goals and objectives concerning the Company's future financial and operating performance. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Therefore, actual results may differ materially from those expressed or forecasted in such forward-looking statements. Risks and uncertainties include, among other things, risks related to the Eviosys Acquisition, including that the Eviosys Acquisition will not be consummated; conditions in the credit markets and the ability to obtain financing for the Eviosys Acquisition on the timing or terms the Company anticipates; the ability to receive regulatory approvals for the Eviosys Acquisition in a timely manner, on acceptable terms or at all, or to satisfy the other closing conditions to the Eviosys acquisition; the ability to retain key employees and successfully integrate Eviosys; the Company's ability to realize es

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (a) Financial statements of businesses or funds acquired. The consolidated financial statements of Eviosys required by Item 9.01(a) of Form 8-K and accompanying notes are filed as Exhibits 99.1 and 99.2 to this Current Report. (b) Pro forma financial information. The pro forma financial information required by Item 9.01(b) of Form 8-K in relation to the proposed Eviosys Acquisition is filed as Exhibit 99.3 to this Current Report. (d) Exhibits Exhibit No. Description of Exhibit 23.1 Consent of PricewaterhouseCoopers Audit , independent auditors of Eviosys. 99.1 Historical Audited Consolidated Financial Statements and Related Notes of Eviosys as of D ecember 31, 2023 and 2022 and for the years en ded December 31, 2023 and 2022 . 99.2 Historical Unaudited Condensed Consolidated Financial Statements and Related Notes of Eviosys as of June 30, 2024 a nd De cember 31, 2023 and for the Six Months ended June 30, 2024 and 2023 . 99.3 Unaudited Pro Forma Condensed Co mbined Balance Sheet as of June 30, 2024 and the Unaudited Pro Form Condensed Co mbined Statements of Income of Sonoco for the year ended December 31, 2023 and the Six Months ended June 30, 2024. 99.4 Unaudited S upplemental N on-GAAP P ro F orma F inancial Information . 104 Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101). 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. SONOCO PRODUCTS COMPANY Date: September 13, 2024 By: /s/ Robert R. Dillard Robert R. Dillard Chief Financial Officer

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