SAIC Enters Material Agreement, Creates New Financial Obligation

Ticker: SAIC · Form: 8-K · Filed: 2024-02-12T00:00:00.000Z

Sentiment: neutral

Topics: debt, material-agreement, financial-obligation

TL;DR

**SAIC just took on a new major financial obligation, watch for details on its impact.**

AI Summary

Science Applications International Corporation (SAIC) filed an 8-K on February 12, 2024, reporting an event on February 8, 2024, concerning an entry into a material definitive agreement and the creation of a direct financial obligation. This filing indicates SAIC has undertaken a new significant financial commitment, which could impact its future cash flow and profitability. For investors, this matters because new financial obligations can affect the company's balance sheet and potentially its ability to fund other growth initiatives or return capital to shareholders.

Why It Matters

This filing signals a new financial commitment for SAIC, which could influence its financial health and future operational flexibility. Investors should monitor the details of this obligation to assess its potential impact on the company's earnings and debt levels.

Risk Assessment

Risk Level: medium — The filing indicates a new financial obligation without specifying its nature or size, creating uncertainty about its potential impact on the company's financial health.

Analyst Insight

Investors should await further disclosures from SAIC regarding the specifics of this material definitive agreement and financial obligation to assess its financial impact before making investment decisions.

Key Numbers

001-35832 — Commission File Number (identifies SAIC's registration with the SEC)
46-1932921 — IRS Employer Identification No. (identifies SAIC for tax purposes)

Key Players & Entities

Science Applications International Corporation (company) — the registrant filing the 8-K
SAIC Gemini, Inc. (company) — former name of the registrant
February 8, 2024 (date) — date of the earliest event reported
February 12, 2024 (date) — date the 8-K was filed
001-35832 (dollar_amount) — Commission File Number

Forward-Looking Statements

SAIC will provide more details on the nature and terms of this new financial obligation in its next quarterly report. (Science Applications International Corporation) — high confidence, target: Q1 2024 Earnings Report
The new financial obligation could lead to a slight increase in SAIC's debt-to-equity ratio. (Science Applications International Corporation) — medium confidence, target: Next financial statement

FAQ

What specific items were reported in this 8-K filing by Science Applications International Corporation?

The 8-K filing by Science Applications International Corporation reported 'Entry into a Material Definitive Agreement' and 'Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant' as per the ITEM INFORMATION section.

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

The earliest event reported in this 8-K filing occurred on February 8, 2024, as stated in the 'Date of Report (Date of earliest event reported)' section.

What is the full legal name of the registrant as specified in its charter?

The exact name of the registrant as specified in its charter is Science Applications International Corporation.

What is the business address and phone number of Science Applications International Corporation?

The business address of Science Applications International Corporation is 12010 Sunset Hills Road, Reston, VA 20190, and its telephone number is (703) 676-4300.

What was the former name of Science Applications International Corporation and when did the name change occur?

The former name of Science Applications International Corporation was SAIC Gemini, Inc., and the date of the name change was 20130305 (March 5, 2013).

From the Filing

0001571123-24-000022.txt : 20240212 0001571123-24-000022.hdr.sgml : 20240212 20240212161644 ACCESSION NUMBER: 0001571123-24-000022 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 214 CONFORMED PERIOD OF REPORT: 20240208 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240212 DATE AS OF CHANGE: 20240212 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Science Applications International Corp CENTRAL INDEX KEY: 0001571123 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN [7373] ORGANIZATION NAME: 06 Technology IRS NUMBER: 461932921 STATE OF INCORPORATION: DE FISCAL YEAR END: 0202 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-35832 FILM NUMBER: 24620137 BUSINESS ADDRESS: STREET 1: 12010 SUNSET HILLS ROAD CITY: RESTON STATE: VA ZIP: 20190 BUSINESS PHONE: 703-676-4300 MAIL ADDRESS: STREET 1: 12010 SUNSET HILLS ROAD CITY: RESTON STATE: VA ZIP: 20190 FORMER COMPANY: FORMER CONFORMED NAME: SAIC Gemini, Inc. DATE OF NAME CHANGE: 20130305 8-K 1 saic-20240208.htm 8-K saic-20240208 0001571123 false 0001571123 2024-02-08 2024-02-08 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________________________________________ Form 8-K _________________________________________________________ CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): February 8, 2024 _________________________________________________________ Science Applications International Corporation (Exact name of registrant as specified in its charter) _________________________________________________________ Delaware   001-35832   46-1932921 (State or other Jurisdiction of Incorporation)   (Commission File Number)   (IRS Employer Identification No.) 12010 Sunset Hills Road , Reston , VA 20190 (Address of Principal Executive Offices) (Zip Code) ( 703 ) 676-4300 Registrant’s telephone number, including area code Not Applicable (Former name or former address if changed since last report.)   Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $.0001 per share SAIC New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐ Item 1.01. Entry into a Material Definitive Agreement The information required by this item is included in Item 2.03 below and is incorporated herein by reference. Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant On February 8, 2024 (the "Closing Date"), Science Applic