The company said it entered into a Termination Agreement with Capri Holdings Limited and Sunrise Merger Sub on November 13, 2024, which ended the Merger Agreement effective immediately on August 10, 2023, and that it agreed to reimburse Capri's expenses of $45,088,675 in cash on November 14, 2024.

1. 01

   The company said it entered into a Termination Agreement with Capri Holdings Limited and Sunrise Merger Sub on November 13, 2024, which ended the Merger Agreement effective immediately on August 10, 2023, and that it agreed to reimburse Capri's expenses of $45,088,675 in cash on November 14, 2024.

2. 02

   Because the Merger Agreement was terminated, the company said it must redeem all outstanding Notes at 101% of principal plus unpaid interest, with the redemption date on or about November 25, 2024. The press release put the total senior notes outstanding at $6.1 billion.

3. 03

   The company said it will recognize, on a pre-tax basis, the entire unamortized portion of cash flow hedge losses, debt issuance costs and debt issuance discounts of approximately $57.1 million and the entire redemption premium of approximately $61.1 million in net income upon the redemption of the Notes.

4. 04

   The company said its board approved a new share repurchase program of $2.0 billion on November 13, 2024, which is in addition to the remaining $800 million authorized in May 2022.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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