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Jacobs Completes Equity for Debt Exchange
JJacobs Solutions (J) Prnewswire·2025-03-13 13:17

Core Viewpoint - Jacobs has successfully exited its equity stake in Amentum Holdings, resulting in a significant debt reduction of approximately 312millionthroughanequity−for−debtexchange[1]Group1:TransactionDetails−Jacobsexchanged19,464,174sharesofAmentumcommonstockforapproximately£240millionintermloans,leadingtoadecreaseinoutstandingborrowingsbythesameamount[1]−ThetransactionwasfacilitatedbyBofASecurities,Inc.,whichactedasthesellingshareholderinaregisteredpublicofferingthatclosedonMarch13,2025[1][2]−Anadditional9,732,087sharesofAmentumcommonstockremaininescrow,pendingperformancemilestonesrelatedtoapreviousmerger[1]Group2:StrategicImplications−Theequity−for−debtexchangeispartofJacobs′businesstransformationstrategyaimedatcreatingaleadingscience−basedconsultingandadvisorycompany[1]−Thecompanyaimstodeliverresilient,digitallyenabledinfrastructuresolutionsthatpositivelyimpacttheworld[1]Group3:CompanyOverview−Jacobsreportedapproximately312 million through an equity-for-debt exchange [1] Group 1: Transaction Details - Jacobs exchanged 19,464,174 shares of Amentum common stock for approximately £240 million in term loans, leading to a decrease in outstanding borrowings by the same amount [1] - The transaction was facilitated by BofA Securities, Inc., which acted as the selling shareholder in a registered public offering that closed on March 13, 2025 [1][2] - An additional 9,732,087 shares of Amentum common stock remain in escrow, pending performance milestones related to a previous merger [1] Group 2: Strategic Implications - The equity-for-debt exchange is part of Jacobs' business transformation strategy aimed at creating a leading science-based consulting and advisory company [1] - The company aims to deliver resilient, digitally enabled infrastructure solutions that positively impact the world [1] Group 3: Company Overview - Jacobs reported approximately 12 billion in annual revenue and employs nearly 45,000 people, providing end-to-end services across various sectors [4]