M&A - DMC Global Inc.

Form Type: 8-K

Filing Date: 2025-06-11

Corporate Action: Acquisition

Type: New

Accession Number: 000003406725000117

Filing Summary: On June 10, 2025, DMC Global Inc. entered into a Second Amendment to its existing credit agreement with a syndicate of banks, led by KeyBank National Association. This amendment modifies financial covenants and interest rates to facilitate the potential acquisition of the remaining 40% minority interest in Arcadia Products, LLC, which is currently 60% owned by DMC Global. Key provisions include a temporary increase in the maximum leverage ratio to 3.5x adjusted EBITDA for the first two quarters following the exercise of a purchase option, followed by the ratio reverting to 3.0x afterwards. Furthermore, proceeds from the existing $50 million delayed draw term loan can be held in a restricted account for future payment related to this acquisition. DMC Global's obligations under the Credit Agreement remain secured by its assets.

Form Type: SCHEDULE 13D/A

Filing Date: 2025-02-07

Corporate Action: Acquisition

Type: Update

Accession Number: 000092189525000284

Filing Summary: On February 6, 2025, Steel Connect delivered a revised, non-binding proposal to acquire all outstanding shares of DMC Global Inc. not already owned by them at a price of $10.18 per share in cash. This proposal was submitted despite Steel Connect not having received requested and customary financial information or access to management. The full text of the Revised Proposal is attached as Exhibit 99.1 to the filing, which is included as a reference in the document.