M&A: BLACKBAUD INC

Form Type: 8-K

Filing Date: 2025-01-02

Corporate Action: Acquisition

Type: New

Accession Number: 000128005825000002

Comments: On December 31, 2024, Blackbaud, Inc. disposed of its EVERFI business to a private investment firm. This transaction involved the reorganization of EverFi, Inc. into a limited liability company named EverFi, LLC, from which the YourCause business was retained. The acquisition was made for nominal cash consideration, with the Purchaser assuming all assets, liabilities, and operations related to EVERFI. The assets transferred did not include EVERFI's Washington, D.C. office space. Blackbaud will provide transition services to the Purchaser post-closing. Additionally, Blackbaud is assessing an impairment charge related to the EVERFI assets and will amend a previous Form 8-K with further details once the estimate is finalized.

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