Sylvamo Corp Terminates Material Definitive Agreement
Ticker: SLVM · Form: 8-K · Filed: 2024-10-31T00:00:00.000Z
Sentiment: neutral
Topics: agreement-termination, material-contract
Related Tickers: SLVM
TL;DR
SLVM terminated a big deal, details TBD.
AI Summary
On October 30, 2024, Sylvamo Corporation (NYSE: SLVM) announced the termination of a material definitive agreement. The filing does not specify the counterparty or the nature of the agreement, but it is classified under Item 1.02, indicating the termination of a previously disclosed material contract.
Why It Matters
The termination of a material definitive agreement can signal a shift in the company's strategic direction or operational plans, potentially impacting future revenue streams or cost structures.
Risk Assessment
Risk Level: medium — The termination of a material definitive agreement introduces uncertainty about the company's future business relationships and financial performance.
Key Players & Entities
- Sylvamo Corporation (company) — Registrant
- SLVM (company) — Ticker Symbol
FAQ
What was the specific material definitive agreement that was terminated?
The filing does not specify the name or details of the material definitive agreement that was terminated.
Who was the counterparty to the terminated agreement?
The filing does not disclose the identity of the other party involved in the terminated agreement.
What is the effective date of the termination?
The earliest event reported is dated October 30, 2024, which is the date of the report and likely the effective date of the termination.
What are the financial implications of this termination for Sylvamo Corporation?
The filing does not provide specific details on the financial implications of the agreement's termination.
Does this termination relate to any previously announced strategic initiatives or transactions?
The filing does not explicitly link the termination to any specific prior announcements, but it is filed under Item 1.02, indicating the termination of a material definitive agreement.
From the Filing
0001193125-24-248167.txt : 20241031 0001193125-24-248167.hdr.sgml : 20241031 20241031075408 ACCESSION NUMBER: 0001193125-24-248167 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 16 CONFORMED PERIOD OF REPORT: 20241030 ITEM INFORMATION: Termination of a Material Definitive Agreement ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20241031 DATE AS OF CHANGE: 20241031 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Sylvamo Corp CENTRAL INDEX KEY: 0001856485 STANDARD INDUSTRIAL CLASSIFICATION: PAPER MILLS [2621] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 862596371 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-40718 FILM NUMBER: 241412489 BUSINESS ADDRESS: STREET 1: 6077 PRIMACY PARKWAY CITY: MEMPHIS STATE: TN ZIP: 38119 BUSINESS PHONE: 901-519-8000 MAIL ADDRESS: STREET 1: 6077 PRIMACY PARKWAY CITY: MEMPHIS STATE: TN ZIP: 38119 8-K 1 d869934d8k.htm 8-K 8-K Sylvamo Corp false 0001856485 0001856485 2024-10-30 2024-10-30     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): October 30, 2024     SYLVAMO CORPORATION (Exact name of registrant as specified in its charter)     Commission file number 001-40718   Delaware   86-2596371 (State or other jurisdiction of incorporation)   (I.R.S. Employer Identification No.)   6077 Primacy Parkway , Memphis , Tennessee   38119 (Address of Principal Executive Offices)   (Zip Code) Registrant’s telephone number, including area code: (901) 519-8000     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 (see General Instruction A.2. below):   ☐ 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, $1 per share par value   SLVM   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 1.02 Termination of a Material Definitive Agreement. On October 30, 2024, Sylvamo North America, LLC (“ Sylvamo NA ”), a wholly-owned subsidiary of Sylvamo Corporation (the “ Company ”), and International Paper Company (“ IP ”) entered into an agreement (the “ Termination Agreement ”) to terminate the Supply and Offtake Agreement by and between IP and Sylvamo NA, dated as of September 30, 2021 (the “ Georgetown Supply Agreement ”). The effective date of termination is December 31, 2024. The Termination Agreement includes post-termination obligations of the parties w