Brown & Brown Enters Material Definitive Agreement
Ticker: BRO · Form: 8-K · Filed: Jun 11, 2024 · CIK: 79282
Sentiment: neutral
Topics: material-agreement, financial-obligation, 8-k
Related Tickers: BRO
TL;DR
BROWN & BROWN (BRO) just signed a big deal, likely involving debt. Keep an eye on financials.
AI Summary
On June 11, 2024, Brown & Brown, Inc. entered into a material definitive agreement, likely related to financing obligations. The company, incorporated in Florida with IRS number 59-0864469, filed this 8-K report to disclose this event. The filing also indicates the creation of a direct financial obligation or an off-balance sheet arrangement.
Why It Matters
This filing signals a significant financial commitment or arrangement for Brown & Brown, Inc., which could impact its financial structure and future operations.
Risk Assessment
Risk Level: medium — Entering into material definitive agreements and financial obligations can introduce financial risks and impact the company's balance sheet.
Key Numbers
- 001-13619 — SEC File Number (Identifier for Brown & Brown, Inc. at the SEC)
- 59-0864469 — IRS Employer Identification Number (Tax identification for Brown & Brown, Inc.)
Key Players & Entities
- BROWN & BROWN, INC. (company) — Registrant
- 0001193125-24-159210 (filing_id) — Accession Number
- June 11, 2024 (date) — Report Date
- Florida (location) — State of Incorporation
- 59-0864469 (tax_id) — IRS Employer Identification Number
- 001-13619 (company_id) — SEC File Number
FAQ
What is the specific nature of the material definitive agreement entered into by Brown & Brown, Inc. on June 11, 2024?
The filing indicates the entry into a material definitive agreement and the creation of a direct financial obligation or an off-balance sheet arrangement, but the specific details of the agreement are not provided in this summary.
What is the primary business of Brown & Brown, Inc. according to the filing?
Brown & Brown, Inc. is identified under the Standard Industrial Classification code 6411 as 'INSURANCE AGENTS BROKERS & SERVICES'.
When was the earliest event reported in this 8-K filing?
The earliest event reported is dated June 11, 2024.
What is the state of incorporation for Brown & Brown, Inc.?
Brown & Brown, Inc. is incorporated in Florida.
What are the key items disclosed in this 8-K filing?
The key items disclosed are the Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement, and Financial Statements and Exhibits.
Filing Stats: 1,186 words · 5 min read · ~4 pages · Grade level 9.2 · Accepted 2024-06-11 17:00:31
Key Financial Figures
- $0.10 — nge on which registered Common Stock, $0.10 Par Value BRO New York Stock Exchan
- $600,000,000 — ny") completed the issuance and sale of $600,000,000 aggregate principal amount of the Compa
- $593.2 million — d offering expenses, were approximately $593.2 million. The Notes were offered and sold unde
Filing Documents
- d750800d8k.htm (8-K) — 32KB
- d750800dex42.htm (EX-4.2) — 98KB
- d750800dex43.htm (EX-4.3) — 19KB
- d750800dex51.htm (EX-5.1) — 13KB
- g750800g73x05.jpg (GRAPHIC) — 6KB
- 0001193125-24-159210.txt ( ) — 325KB
- bro-20240611.xsd (EX-101.SCH) — 3KB
- bro-20240611_lab.xml (EX-101.LAB) — 17KB
- bro-20240611_pre.xml (EX-101.PRE) — 11KB
- d750800d8k_htm.xml (XML) — 3KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. The following exhibits are filed herewith: Exhibit No. Description of Exhibit 4.1 Indenture, dated as of September 18, 2014, between Brown & Brown, Inc. and U.S. Bank Trust Company, National Association (as successor to U.S. Bank National Association) (incorporated by reference to Exhibit 4.1 to Form 8-K filed on September 18, 2014). 4.2 Fifth Supplemental Indenture, dated as of June 11, 2024, between Brown & Brown, Inc. and U.S. Bank Trust Company, National Association (as successor to U.S. Bank National Association). 4.3 Form of Brown & Brown, Inc.'s 5.650% Notes due 2034. 5.1 Opinion of Holland & Knight LLP. 23.1 Consent of Holland & Knight LLP (included as part of Exhibit 5.1). 104 Cover Page Interactive Data File (formatted as inline XBRL). 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. Date: June 11, 2024 BROWN & BROWN, INC. By: /s/ R. Andrew Watts R. Andrew Watts Executive Vice President, Chief Financial Officer and Treasurer