UFP Technologies Files 8-K for Reg FD and Financials

TL;DR

UFP Tech filed an 8-K for standard disclosures, no new info for traders.

AI Summary

On July 16, 2024, UFP Technologies, Inc. filed an 8-K report to disclose information regarding Regulation FD and financial statements. The filing does not contain specific financial figures or material events beyond the procedural disclosure of these items.

Why It Matters

This filing indicates UFP Technologies is adhering to regulatory disclosure requirements, but it does not provide new financial performance data or strategic updates for investors.

Risk Assessment

Risk Level: low — The filing is a routine procedural disclosure and does not contain any new material information that would impact the company's risk profile.

Key Players & Entities

• UFP Technologies, Inc. (company) — Registrant
• July 16, 2024 (date) — Filing Date
• Delaware (jurisdiction) — State of Incorporation
• 100 Hale Street Newburyport (address) — Principal Executive Offices

FAQ

Key Financial Figures

• $15 million — 1985 with annual sales of approximately $15 million and headquartered in Dover, New Hampshi
• $34.6 million — ired for an aggregate purchase price of $34.6 million in cash plus up to an additional $6 mil
• $6 million — illion in cash plus up to an additional $6 million based upon the achievement of certain E
• $5 m — rida with annual sales of approximately $5 million, Marble develops and manufactures
• $4.5 million — ired for an aggregate purchase price of $4.5 million in cash plus up to an additional $0.5 m
• $0.5 million — illion in cash plus up to an additional $0.5 million based upon the achievement of sales tar

Filing Documents

• f8k_071624.htm (8-K) — 19KB
• exh_991.htm (EX-99.1) — 5KB
• exh_992.htm (EX-99.2) — 5KB
• 0001171843-24-003980.txt ( ) — 229KB
• gnw-20190101.xsd (EX-101.SCH) — 3KB
• gnw-20190101_def.xml (EX-101.DEF) — 25KB
• gnw-20190101_lab.xml (EX-101.LAB) — 33KB
• gnw-20190101_pre.xml (EX-101.PRE) — 22KB
• f8k_071624_htm.xml (XML) — 3KB

01. Regulation FD Disclosure

Item 7.01. Regulation FD Disclosure. Welch Fluorocarbon Acquisition Pursuant to the terms of a Stock Purchase Agreement, dated as of July 15, 2024 (the "Welch Purchase Agreement"), by and among Welch Fluorocarbon, Inc. ("Welch"), the stockholders of Welch Fluorocarbon, Inc., Kevin J. Wiley and Seth D. Welch, individually and Kevin J. Wiley, as the sellers' representative (collectively the "Sellers"), and UFP Technologies, Inc. ("UFP" or the "Company"), UFP purchased from the Sellers all of the issued and outstanding shares of Welch. Founded in 1985 with annual sales of approximately $15 million and headquartered in Dover, New Hampshire, Welch develops and manufactures thermoformed and heat sealed implantable medical device components utilizing thin, high-performance films. The Welch shares were acquired for an aggregate purchase price of $34.6 million in cash plus up to an additional $6 million based upon the achievement of certain EBITDA targets of Welch for each of the 12-month periods ended December 31, 2024, 2025 and 2026. The aggregate purchase price at closing was approximately 11.5 times the Welch adjusted net income before interest, taxes, depreciation and amortization (adjusted EBITDA, which is a non-GAAP financial measure) for the 12-month period ended December 31, 2023. A portion of the purchase price is being held in escrow to indemnify the Company against certain claims, losses and liabilities. The Welch Purchase Agreement contains customary representations, warranties, indemnities and covenants customary for transactions of this type. On July 16, 2024, UFP issued a press release relating to the completion of the Company's acquisition of Welch. The press release is attached as Exhibit 99.1 hereto and is incorporated herein by reference. Marble Medical Acquisition Pursuant to the terms of a Stock Purchase Agreement, dated as of June 24, 2024 (the "Marble Purchase Agreement"), by and among Marble Medical, Inc. ("Marble"), Joseph J. Audie, Jr. Rev

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 99.1 Press release dated July 16, 2024 of UFP Technologies, Inc. announcing the completion of its acquisition of Welch Fluorocarbon, Inc. 99.2 Press release dated July 16, 2024 of UFP Technologies, Inc. announcing the completion of its acquisition of Marble, Medical, Inc. 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. UFP Technologies, Inc. Date: July 16, 2024 By: /s/ Ronald J. Lataille Ronald J. Lataille Chief Financial Officer and Senior Vice President

View Full Filing

View this 8-K filing on SEC EDGAR