M&A - Knife River Corp

Form Type: 8-K

Filing Date: 2025-03-10

Corporate Action: Acquisition

Type: New

Accession Number: 000195552025000013

Filing Summary: On March 7, 2025, Knife River Corporation entered into a First Amendment with lenders and JPMorgan Chase Bank, amending a previous Credit Agreement. The First Amendment includes a five-year senior secured revolving credit facility of $500 million, a five-year senior secured term loan facility of approximately $265 million, and a seven-year senior secured term loan facility of $500 million. The company plans to use part of the proceeds from the Term Loan B Facility to complete the acquisition of Strata Corporation and related assets, as outlined in an Asset and Equity Purchase Agreement dated December 20, 2024. On March 10, 2025, the company issued a press release announcing the completion of the acquisition, indicating significant developments in its capital and operational strategy.

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