M&A: PAYCOR HCM, INC.

Form Type: 8-K

Filing Date: 2025-01-07

Corporate Action: Merger

Type: New

Accession Number: 000119312525002903

Comments: On January 7, 2025, Paycor HCM, Inc. entered into a Merger Agreement with Paychex, Inc. and Skyline Merger Sub, Inc. Under the terms of the agreement, Skyline Merger Sub will be merged with Paycor HCM, making it a wholly-owned subsidiary of Paychex. Each outstanding share of Paycor common stock will be converted into the right to receive $22.50 in cash at the effective time of the merger. Customary representations, warranties, and covenants have been made by the parties. The merger will not require further action from stockholders as a written consent was executed by Paycor's majority stockholder approving the merger. The closing is contingent upon typical conditions including regulatory approvals and is expected to happen no earlier than April 15, 2025. Employees will be compensated for stock options and restricted stock unit awards according to specified terms defined in the agreement. An information statement regarding the merger will be filed with the SEC.

Document Link: View Document

Additional details:

Merger Agreement Date: 2025-01-07

Merger Consideration: $22.50 in cash

Closing Conditions: Approval of Merger Agreement, absence of legal prohibitions, expiration of waiting periods

Effective Time: At the effective time of the merger

Majority Stockholder Consent: Executed by funds advised by Apax Partners LLP

Expected Closing Date: No earlier than April 15, 2025