Resideo Technologies (REZI) has shared an update.
Resideo Technologies, Inc. has amended its investment agreement with investment firm CD&R, which has now purchased 500,000 shares of preferred stock for a total of $500 million. The amendment modifies board designation rights, now included in the Certificate of Designations, allowing CD&R to appoint board members based on its ownership level. Additionally, the company has restructured its credit arrangements, obtaining new term loans and revolving commitments to finance a merger with Snap One Holdings Corp, resulting in Snap One becoming a wholly owned subsidiary of Resideo Technologies.
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