ARCONIC INC. (NYSE:ARNC) Files An 8-K Regulation FD DisclosureItem 7.01
Beginning on September 28, 2017, the 2016 Arconic Sustainability Report, which details Arconic Inc.’s (“Arconic” or the “Company”) global environmental and social performance, will be available online in the Sustainability Reports section of Arconic’s website at http://www.arconic.com/global/en/who-we-are/sustainability-report.asp.
In accordance with General Instruction B.2 of Form 8-K, the information in Item 7.01 of this Current Report on Form 8-K shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing. In addition, the furnishing of this Item 7.01 of Form 8-K will not be deemed an admission that the 2016 Arconic Sustainability Report includes material information that is not otherwise publicly available.
On September 28, 2017, Arconic issued a press release announcing that all of the Company’s outstanding 5.375% Class B Mandatory Convertible Preferred Stock, Series 1, par value $1.00 per share (the “Class B preferred stock”), will automatically convert to shares of Arconic common stock at a rate of 15.6996 common shares per share of Class B preferred stock, with deemed effect on October 1, 2017, the mandatory conversion date.
On October 2, 2017, the first business day following the mandatory conversion date, holders of the depositary shares, each representing one-tenth (1/10th) interest in one share of the Class B preferred stock, will receive 1.56996 Arconic common shares for each depositary share. Cash will be paid in lieu of fractional common shares. No action by holders of the depositary shares is required in connection with the conversion.
The conversion of the outstanding Class B preferred stock will result in the issuance of approximately 39.2 million shares of Arconic common stock on October 2, 2017. As of July 28, 2017, Arconic had 441,030,999 shares of common stock issued and outstanding.
A copy of the Company’s press release regarding the foregoing is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01 | Financial Statements and Exhibits. |
The following is filed as an exhibit to this report:
99.1 | Arconic Inc. press release, dated September 28, 2017. |
Arconic Inc. ExhibitEX-99.1 2 v476064_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 FOR IMMEDIATE RELEASE Investor Contact: Media Contact: Patricia Figueroa Shona Sabnis (212) 836-2758 (212) 836-2626 [email protected] [email protected] Arconic Announces Mandatory Conversion of Its 5.375% Class B Mandatory Convertible Preferred Stock NEW YORK,…To view the full exhibit click here
About ARCONIC INC. (NYSE:ARNC)
Arconic Inc., formerly Alcoa Inc., is engaged in providing materials and engineered products. The Company operates through segments, including Global Rolled Products, Engineered Products and Solutions, and Transportation and Construction Solutions. The Company offers engineered products and solutions, including fastening systems and rings, titanium and engineered products, power and propulsion, and forgings and extrusions. Its transportation and construction solutions include wheel and transportation products; building and construction systems, and extrusions. Its global rolled products include aerospace and automotive products; Micromill products and services, and brazing, commercial transportation and industrial solutions. It offers a range of aluminum sheet and plate products for the aerospace, automotive, commercial transportation, brazing and industrial markets. The Company’s product portfolio is focused on Arconic Micromill technology.