DUNKIN BRANDS GROUP, INC. (NASDAQ:DNKN) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement.
into a Supplemental Confirmation to the Master Confirmation dated
as of February 5, 2015 with Goldman, Sachs Co. (Goldman) for a
new $100.0 million accelerated share repurchase program (the ASR
Agreement). The Company will acquire the shares under the ASR
Agreement as part of its previously announced share repurchase
program.
will pay Goldman $100.0 million in cash and will receive
approximately 1,445,000 shares of the Companys common stock. At
settlement, Goldman may be required to deliver additional shares
of common stock to the Company, or, under certain circumstances,
the Company may be required to deliver shares of its common stock
or may elect to make a cash payment to Goldman, based generally
on the average of the daily volume-weighted average prices of the
Companys common stock during the term of the ASR Agreement. The
ASR Agreement contains provisions customary for agreements of
this type, including provisions for adjustments to the
transaction terms, the circumstances generally under which the
ASR Agreement may be accelerated, extended or terminated early by
Goldman and various acknowledgments, representations and
warranties made by the parties to one another. Final settlement
of the ASR Agreement is expected to be completed in June 2017.
its entirety by reference to the ASR Agreement, which has been
previously filed with the SEC and is incorporated herein by
reference.
Obligation under an Off-Balance Sheet Arrangement of a
Registrant.
the authorization under the Companys existing share repurchase
program to $250 million of the Companys outstanding common stock.
The authorization is valid until May 2019.
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10.1
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Form of Fixed Dollar Accelerated Share Repurchase
Transaction Confirmation (incorporated by reference to Exhibit 10.1 to the Companys Current Report on Form 8-K filed with the SEC on February 6, 2015) |
About DUNKIN’ BRANDS GROUP, INC. (NASDAQ:DNKN)
Dunkin’ Brands Group, Inc. is a franchisor of quick service restaurants (QSRs) serving hot and cold coffee and baked goods, as well as hard serve ice cream. The Company franchises restaurants under its Dunkin’ Donuts and Baskin-Robbins brands. The Company operates through four segments: Dunkin’ Donuts-U.S., Dunkin’ Donuts International, Baskin-Robbins International and Baskin-Robbins-U.S. The Dunkin’ Donuts U.S. segment is the United States QSR concept, and markets donut and bagel categories for servings. The Baskin-Robbins-U.S. segment is engaged in serving hard-serve ice cream, and develops and sells a range of frozen ice cream treats, such as cones, cakes, sundaes and frozen beverages. The Company’s Dunkin’ Donuts International segment franchisees are responsible for sourcing their own supplies with its standards. As of December 31, 2016, Baskin-Robbins International segment had a manufacturing network, which consisted of 14 facilities. DUNKIN’ BRANDS GROUP, INC. (NASDAQ:DNKN) Recent Trading Information
DUNKIN’ BRANDS GROUP, INC. (NASDAQ:DNKN) closed its last trading session down -0.33 at 55.36 with 843,111 shares trading hands.
