Zebra Technologies Enters Material Definitive Agreement

Ticker: ZBRA · Form: 8-K · Filed: May 28, 2024 · CIK: 877212

Zebra Technologies Corp 8-K Filing Summary
FieldDetail
CompanyZebra Technologies Corp (ZBRA)
Form Type8-K
Filed DateMay 28, 2024
Risk Levelmedium
Pages4
Reading Time5 min
Key Dollar Amounts$500,000,000, $492 million, $172 million
Sentimentneutral

Sentiment: neutral

Topics: material-definitive-agreement, financial-obligation

TL;DR

Zebra Tech just signed a big deal, watch their financials.

AI Summary

On May 22, 2024, Zebra Technologies Corporation entered into a Material Definitive Agreement related to a direct financial obligation. The company, headquartered in Lincolnshire, Illinois, filed this 8-K report to disclose this event.

Why It Matters

This filing indicates a significant financial commitment or obligation for Zebra Technologies, which could impact its financial standing and future operations.

Risk Assessment

Risk Level: medium — Entering into material definitive agreements can introduce new financial obligations or strategic shifts that carry inherent risks.

Key Players & Entities

  • Zebra Technologies Corporation (company) — Registrant
  • May 22, 2024 (date) — Date of earliest event reported
  • Lincolnshire, Illinois (location) — Principal Executive Offices

FAQ

What type of Material Definitive Agreement did Zebra Technologies enter into?

The filing states that the agreement is related to a 'Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant'.

When was the earliest event reported in this 8-K filing?

The earliest event reported was on May 22, 2024.

Where are Zebra Technologies Corporation's principal executive offices located?

Zebra Technologies Corporation's principal executive offices are located at 3 Overlook Point, Lincolnshire, Illinois.

What is Zebra Technologies Corporation's IRS Employer Identification Number?

Zebra Technologies Corporation's IRS Employer Identification Number is 36-2675536.

Under which section of the Securities Exchange Act is this 8-K report filed?

This 8-K report is filed pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.

Filing Stats: 1,311 words · 5 min read · ~4 pages · Grade level 12 · Accepted 2024-05-28 17:31:13

Key Financial Figures

  • $500,000,000 — reviously announced private offering of $500,000,000 in aggregate principal amount of 6.500%
  • $492 million — (the "Notes Offering") of approximately $492 million after deducting the initial purchasers'
  • $172 million — ts revolving credit facility, which was $172 million as of March 30, 2024. Zebra Technologie

Filing Documents

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement On May 28, 2024, Zebra Technologies Corporation, a Delaware corporation ("Zebra Technologies"), completed its previously announced private offering of $500,000,000 in aggregate principal amount of 6.500% senior unsecured notes due 2032 (the "Notes"). Zebra Technologies received net proceeds from the offering of the Notes (the "Notes Offering") of approximately $492 million after deducting the initial purchasers' discount and estimated offering expenses payable by Zebra Technologies. Zebra Technologies intends to use the net proceeds from the Notes Offering to repay all of the outstanding debt under its revolving credit facility, which was $172 million as of March 30, 2024. Zebra Technologies intends to use the remaining net proceeds for general corporate purposes, including to replenish cash on hand following repayment of its receivables financing facility that matured on May 13, 2024. Indenture On May 28, 2024, Zebra Technologies entered into an indenture relating to the issuance of the Notes (the "Indenture"), by and among Zebra Technologies, certain subsidiaries of Zebra Technologies, as guarantors (the "Subsidiary Guarantors"), and U.S. Bank Trust Company, National Association (the "Trustee"), as trustee. The Notes will be fully and unconditionally guaranteed on a senior unsecured basis by certain of Zebra Technologies' existing and future subsidiaries. Interest The Notes mature on June 1, 2032 and bear interest at a rate of 6.500% per annum. Interest on the Notes is payable semi-annually in arrears on June 1 and December 1 of each year, commencing on December 1, 2024. Optional Redemption Zebra Technologies may redeem the Notes, in whole or in part, at any time prior to June 1, 2027 at a price equal to 100% of the principal amount thereof, plus a "make-whole" premium and accrued and unpaid interest, if any, to, but not including, the redemption date. At any time on or after June 1, 2027, Zebra

01. Other Events

Item 8.01. Other Events On May 22, 2024, Zebra Technologies and the Subsidiary Guarantors entered into a purchase agreement (the "Purchase Agreement") with J.P. Morgan Securities LLC, as representative of the several initial purchasers named on Schedule 1 thereto. A copy of the Purchase Agreement is attached hereto as Exhibit 1.1 and is incorporated herein by reference.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description of Exhibits 1.1 Purchase Agreement, dated as of May 22, 2024, by and among Zebra Technologies Corporation, Temptime Corporation, Zebra Technologies International, LLC and J.P. Morgan Securities LLC. 4.1 Indenture, dated as of May 28, 2024, by and among Zebra Technologies Corporation, Temptime Corporation, Zebra Technologies International, LLC and U.S. Bank Trust Company, National Association. 4.2 Form of 6.500% Senior Notes due 2032 (included in Exhibit 4.1). 104 Cover Page Interactive Data File (embedded within the inline XBRL)

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. ZEBRA TECHNOLOGIES CORPORATION Date: May 28, 2024 By: /s/ Cristen Kogl Cristen Kogl Chief Legal Officer, General Counsel & Corporate Secretary EXHIBIT INDEX Exhibit Number Description of Exhibits 1.1 Purchase Agreement, dated as of May 22, 2024, by and among Zebra Technologies Corporation, Temptime Corporation, Zebra Technologies International, LLC and J.P. Morgan Securities LLC. 4.1 Indenture, dated as of May 28, 2024, by and among Zebra Technologies Corporation, Temptime Corporation, Zebra Technologies International, LLC and U.S. Bank Trust Company, National Association. 4.2 Form of 6.500% Senior Notes due 2032 (included in Exhibit 4.1). 104 Cover Page Interactive Data File (embedded within the inline XBRL)

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