[8-K] e.l.f. Beauty, Inc. Reports Material Event
Transaction and Credit Amendment (Aug 5, 2025)
e.l.f. Beauty, Inc. entered into a Fifth Amendment to its Amended and Restated Credit Agreement that: (i) establishes a new $600 million Term Facility, (ii) makes technical amendments to add the Term Facility, (iii) increases the maximum permitted consolidated total net leverage ratio covenant, and (iv) increases interest margins and unused-commitment fees on the existing Revolving Credit Facility. Term Facility pricing is at borrower election of SOFR + 1.50%鈥�2.25% (SOFR floored at 0.00%) or an alternate base rate + 0.50%鈥�1.25% (alternate base floored at 1.00%). Unused commitment fees on the revolver rose to 0.15% and 0.20% from 0.10% and 0.15% at the two lower pricing tiers. Amortization is 1.25% quarterly for the first three years, then 1.875% quarterly for two years, with final maturity on March 3, 2030. Proceeds are available to e.l.f. Cosmetics and certain subsidiaries for merger consideration, payoff of rhode's credit facility, fees/expenses and working capital.
Acquisition of rhode (Completed Aug 5, 2025)
e.l.f. and e.l.f. Cosmetics completed the acquisition of HRBeauty, LLC (rhode) pursuant to the May 28, 2025 Merger Agreement. Aggregate Closing Consideration was $800 million subject to adjustments, comprised of $600 million cash (approximate) and ~$200 million in common stock issued at $77.1685 per share based on the specified VWAP calculation. Contingent consideration (Earn-Out) of up to $200 million is payable based on three-year revenue performance: up to $100 million for achievement of projections and up to an additional $100 million for overachievement. Buyer funded a portion of the Closing Consideration with borrowings under the Amended Credit Agreement. The Company relied on Section 4(a)(2)/Rule 506 exemptions for the stock issuance and agreed to file a shelf registration covering resale of the shares. The Form 8-K attaches a press release for Q2 2025 results as Exhibit 99.1 and notes required financial statements and pro forma information for rhode will be filed within 71 days.
Transazione e modifica del credito (Aug 5, 2025)
e.l.f. Beauty, Inc. ha sottoscritto un Fifth Amendment al suo Amended and Restated Credit Agreement che: (i) istituisce una nuova $600 million Term Facility, (ii) apporta modifiche tecniche per includere la Term Facility, (iii) aumenta il covenant relativo al massimo rapporto di leva finanziaria consolidata (consolidated total net leverage ratio) e (iv) aumenta gli spread sugli interessi e le commissioni su impegni non utilizzati sulla Revolving Credit Facility esistente. Il pricing della Term Facility 猫, a scelta del prenditore, SOFR + 1.50%鈥�2.25% (SOFR con floor a 0.00%) oppure un alternate base rate + 0.50%鈥�1.25% (alternate base con floor a 1.00%). Le commissioni sugli impegni non utilizzati sul revolver sono salite a 0.15% e 0.20% rispetto a 0.10% e 0.15% nei due scaglioni tariffari inferiori. L鈥檃mmortamento 猫 1.25% trimestrale per i primi tre anni, poi 1.875% trimestrale per due anni, con scadenza finale il March 3, 2030. I proventi sono disponibili per e.l.f. Cosmetics e alcune controllate per il pagamento del corrispettivo di fusione, l鈥檈stinzione della credit facility di rhode, commissioni/spese e capitale circolante.
Acquisizione di rhode (Completata Aug 5, 2025)
e.l.f. e e.l.f. Cosmetics hanno completato l鈥檃cquisizione di HRBeauty, LLC (rhode) ai sensi del Merger Agreement del 28 maggio 2025. Il Closing Consideration aggregato 猫 stato di $800 million, soggetto ad aggiustamenti, composto da circa $600 million cash e circa $200 million in azioni ordinarie emesse al prezzo di $77.1685 per azione in base alla VWAP specificata. Un corrispettivo condizionato (Earn-Out) fino a $200 million 猫 pagabile in base alla performance dei ricavi su tre anni: fino a $100 million per il raggiungimento delle proiezioni e fino a ulteriori $100 million per il superamento delle stesse. L鈥檃cquirente ha finanziato parte del Closing Consideration con indebitamento previsto dall鈥橝mended Credit Agreement. La Societ脿 si 猫 avvalsa delle esenzioni Section 4(a)(2)/Rule 506 per l鈥檈missione delle azioni e si 猫 impegnata a depositare una shelf registration per la rivendita delle azioni. Il Form 8-K allega un comunicato stampa sui risultati del Q2 2025 come Exhibit 99.1 e indica che i bilanci e le informazioni pro forma richieste per rhode saranno depositati entro 71 giorni.
Transacci贸n y enmienda de cr茅dito (Aug 5, 2025)
e.l.f. Beauty, Inc. celebr贸 una Fifth Amendment a su Amended and Restated Credit Agreement que: (i) establece una nueva $600 million Term Facility, (ii) introduce enmiendas t茅cnicas para a帽adir la Term Facility, (iii) eleva el covenant del ratio m谩ximo permitido de apalancamiento neto consolidado (consolidated total net leverage ratio), y (iv) incrementa los m谩rgenes de inter茅s y las comisiones por compromisos no utilizados en la Revolving Credit Facility existente. El precio de la Term Facility, a elecci贸n del prestatario, es SOFR + 1.50%鈥�2.25% (SOFR con floor en 0.00%) o una tasa base alternativa + 0.50%鈥�1.25% (alternate base con floor en 1.00%). Las comisiones por compromisos no utilizados en el revolver subieron a 0.15% y 0.20% desde 0.10% y 0.15% en los dos tramos de precio inferiores. La amortizaci贸n es 1.25% trimestral durante los primeros tres a帽os, luego 1.875% trimestral durante dos a帽os, con vencimiento final el March 3, 2030. Los fondos est谩n disponibles para e.l.f. Cosmetics y ciertas subsidiarias para el pago del precio de la fusi贸n, la cancelaci贸n de la credit facility de rhode, honorarios/gastos y capital de trabajo.
Adquisici贸n de rhode (Completada Aug 5, 2025)
e.l.f. y e.l.f. Cosmetics completaron la adquisici贸n de HRBeauty, LLC (rhode) conforme al Merger Agreement del 28 de mayo de 2025. La Consideration de Cierre agregada fue de $800 million, sujeta a ajustes, compuesta por aproximadamente $600 million cash y alrededor de $200 million en acciones ordinarias emitidas a $77.1685 por acci贸n seg煤n el c谩lculo VWAP especificado. Un complemento contingente (Earn-Out) de hasta $200 million ser谩 pagadero en funci贸n del rendimiento de ingresos a tres a帽os: hasta $100 million por alcanzar las proyecciones y hasta otros $100 million por superarlas. El comprador financi贸 parte de la Consideration de Cierre con pr茅stamos bajo el Amended Credit Agreement. La Compa帽铆a se apoy贸 en las exenciones Section 4(a)(2)/Rule 506 para la emisi贸n de acciones y acord贸 presentar una shelf registration para la reventa de las acciones. El Form 8-K adjunta un comunicado de prensa sobre los resultados del 2T 2025 como Exhibit 99.1 y se帽ala que los estados financieros e informaci贸n pro forma requeridos para rhode se presentar谩n dentro de 71 d铆as.
瓯半灅 氚� 鞁犾毄 鞎届爼 靾橃爼(2025雲� 8鞗� 5鞚�)
e.l.f. Beauty, Inc.電� 攴鸽摛鞚� Amended and Restated Credit Agreement鞐� 雽�頃� Fifth Amendment毳� 觳搓舶頄堨溂氅�, 鞚措鞃�: (i) 靸堧鞖� $600 million Term Facility毳� 鞁犾劋頃橁碃, (ii) Term Facility毳� 於旉皜頃橁赴 鞙勴暅 旮办垹鞝� 靾橃爼鞚� 鞚措（鞏挫氅�, (iii) 項堨毄霅橂姅 韱淀暕 靾滊秬毂� 雽�牍� 霠堧矂毽 牍勳湪(consolidated total net leverage ratio) 靸來暅鞚� 靸來枼 臁办爼頃橁碃, (iv) 旮办〈 Revolving Credit Facility鞚� 鞚挫瀽 毵堨 氚� 氙胳偓鞖� 鞎届爼 靾橃垬耄岆ゼ 鞚胳儊頄堨姷雼堧嫟. Term Facility鞚� 旮堧Μ 鞓奠厴鞚� 彀瀰鞛� 靹犿儩鞐� 霐半澕 SOFR + 1.50%鈥�2.25% (SOFR電� 0.00%搿� 頃橅暅) 霕愲姅 雽�觳� 旮办旮堧Μ(alternate base rate) + 0.50%鈥�1.25% (雽�觳� 旮办旮堧Μ 頃橅暅 1.00%)鞛呺媹雼�. 霠堧臣氩勳潣 氙胳偓鞖� 鞎届爼 靾橃垬耄岆姅 霊� 雮潃 臧�瓴╇寑鞐愳劀 0.10% 氚� 0.15%鞐愳劀 0.15% 氚� 0.20%搿� 鞚胳儊霅橃棃鞀惦媹雼�. 靸來櫂鞚� 觳橃潓 3雲勱皠 攵勱赴氤� 1.25%, 攴鸽嫟鞚� 2雲勱皠 攵勱赴氤� 1.875%鞚措┌, 斓滌 毵岅赴電� March 3, 2030鞛呺媹雼�. 鞛愱笀鞚� 頃╇硲 雽�旮�, rhode鞚� 鞁犾毄鞁滌劋 靸來櫂, 靾橃垬耄�/牍勳毄 氚� 鞖挫爠鞛愲掣鞚� 鞙勴暣 e.l.f. Cosmetics 氚� 韸轨爼 鞛愴殞靷摛鞚� 靷毄頃� 靾� 鞛堨姷雼堧嫟.
rhode 鞚胳垬 (鞕勲: 2025雲� 8鞗� 5鞚�)
e.l.f. 氚� e.l.f. Cosmetics電� 2025雲� 5鞗� 28鞚� 觳搓舶霅� Merger Agreement鞐� 霐半澕 HRBeauty, LLC (rhode) 鞚胳垬毳� 鞕勲頄堨姷雼堧嫟. 齑� 韥措歆� 雽�旮堨潃 臁办爼 雽�靸侅澑 $800 million鞚挫棃瓿�, 鞎� $600 million cash鞕� 歆�鞝曤悳 VWAP 瓿勳偘鞐� 霐半澕 欤茧嫻 $77.1685搿� 氚滍枆霅� 鞎� $200 million鞚� 氤错喌欤茧 甑劚霅橃棃鞀惦媹雼�. 斓滊寑 $200 million鞚� 臁瓣贝攵� 雽�旮�(Earn-Out)鞚� 3雲勱皠鞚� 毵れ稖 鞁れ爜鞐� 霐半澕 歆�旮夒悩氅�: 瓿勴殟 雼劚 鞁� 斓滊寑 $100 million, 齑堦臣 雼劚 鞁� 於旉皜搿� 斓滊寑 $100 million鞚� 歆�旮夒惄雼堧嫟. 毵れ垬鞚胳潃 Amended Credit Agreement鞐� 霐半ジ 彀瀰鞙茧 韥措歆� 雽�旮堨潣 鞚茧秬毳� 臁半嫭頄堨姷雼堧嫟. 須岇偓電� 欤检嫕 氚滍枆鞐� 雽�頃� Section 4(a)(2)/Rule 506鞚� 氅挫牅毳� 鞝侅毄頄堨溂氅�, 氚滍枆 欤检嫕鞚� 鞛寪毵るゼ 鞙勴暅 shelf registration鞚� 鞝滌稖頃橁赴搿� 頃╈潣頄堨姷雼堧嫟. Form 8-K鞐愲姅 Q2 2025 鞁れ爜鞐� 甏�頃� 氤措弰鞛愲臧� Exhibit 99.1搿� 觳秬霅橃柎 鞛堦碃, rhode鞐� 雽�頃� 鞖旉惮霅橂姅 鞛鞝滍憸 氚� pro forma 鞝曤炒電� 71鞚� 鞚措偞鞐� 鞝滌稖霅� 鞓堨爼鞛勳潉 氇呾嫓頃╇媹雼�.
Amendement de cr茅dit et op茅ration (Aug 5, 2025)
e.l.f. Beauty, Inc. a conclu un Fifth Amendment 脿 son Amended and Restated Credit Agreement qui : (i) 茅tablit une nouvelle $600 million Term Facility, (ii) comporte des amendements techniques pour ajouter la Term Facility, (iii) augmente le covenant du ratio maximal d'endettement net consolid茅 (consolidated total net leverage ratio), et (iv) rel猫ve les marges d'int茅r锚t et les frais pour engagements non utilis茅s sur la Revolving Credit Facility existante. Le pricing de la Term Facility, au choix de l'emprunteur, est SOFR + 1.50%鈥�2.25% (plancher SOFR 脿 0.00%) ou un taux de base alternatif + 0.50%鈥�1.25% (plancher alternate base 脿 1.00%). Les frais d'engagement non utilis茅s sur le revolver ont augment茅 脿 0.15% et 0.20% contre 0.10% et 0.15% dans les deux tranches tarifaires inf茅rieures. L'amortissement est de 1.25% trimestriel pendant les trois premi猫res ann茅es, puis de 1.875% trimestriel pendant deux ans, avec 茅ch茅ance finale le March 3, 2030. Les produits sont disponibles pour e.l.f. Cosmetics et certaines filiales pour le paiement du prix de la fusion, le remboursement de la credit facility de rhode, les frais/d茅penses et le fonds de roulement.
Acquisition de rhode (Termin茅e Aug 5, 2025)
e.l.f. et e.l.f. Cosmetics ont finalis茅 l'acquisition de HRBeauty, LLC (rhode) en vertu du Merger Agreement du 28 mai 2025. La Closing Consideration agr茅g茅e s'est 茅lev茅e 脿 $800 million, sous r茅serve d'ajustements, compos茅e d'environ $600 million cash et d'environ $200 million en actions ordinaires 茅mises 脿 $77.1685 par action selon le calcul VWAP sp茅cifi茅. Une contrepartie conditionnelle (Earn-Out) pouvant atteindre $200 million est payable en fonction de la performance des revenus sur trois ans : jusqu'脿 $100 million si les projections sont atteintes et jusqu'脿 $100 million suppl茅mentaires en cas de d茅passement. L'acheteur a financ茅 une partie de la Closing Consideration par des emprunts au titre de l'Amended Credit Agreement. La Soci茅t茅 s'est appuy茅e sur les exemptions Section 4(a)(2)/Rule 506 pour l'茅mission des actions et a accept茅 de d茅poser une shelf registration couvrant la revente des actions. Le Form 8-K joint un communiqu茅 de presse sur les r茅sultats du T2 2025 en tant qu'Exhibit 99.1 et indique que les 茅tats financiers requis et les informations pro forma pour rhode seront d茅pos茅s dans un d茅lai de 71 jours.
Transaktions- und Kredit盲nderung (Aug 5, 2025)
e.l.f. Beauty, Inc. hat einen Fifth Amendment zu seinem Amended and Restated Credit Agreement abgeschlossen, der: (i) eine neue $600 million Term Facility einrichtet, (ii) technische 脛nderungen zur Aufnahme der Term Facility vornimmt, (iii) die maximal zul盲ssige konsolidierte Nettoverschuldungsquote (consolidated total net leverage ratio) erh枚ht und (iv) die Zinsmargen und die Geb眉hren f眉r nicht genutzte Verpflichtungen der bestehenden Revolving Credit Facility anhebt. Die Konditionen der Term Facility sind nach Wahl des Kreditnehmers SOFR + 1.50%鈥�2.25% (SOFR-Floor 0.00%) oder ein alternativer Basiszinssatz + 0.50%鈥�1.25% (alternate base-Floor 1.00%). Die Geb眉hren f眉r nicht genutzte Verpflichtungen des Revolvers stiegen in den beiden niedrigeren Pricing-Stufen von 0.10%/0.15% auf 0.15% und 0.20%. Die Tilgung betr盲gt 1.25% pro Quartal in den ersten drei Jahren, danach 1.875% pro Quartal f眉r zwei Jahre; Endf盲lligkeit ist der March 3, 2030. Die Mittel stehen e.l.f. Cosmetics und bestimmten Tochtergesellschaften zur Verf眉gung zur Finanzierung des Kaufpreises der 脺bernahme, zur Abl枚sung der Kreditfazilit盲t von rhode, f眉r Geb眉hren/Aufwendungen und f眉r das Umlaufverm枚gen.
Erwerb von rhode (Abgeschlossen Aug 5, 2025)
e.l.f. und e.l.f. Cosmetics haben den Erwerb von HRBeauty, LLC (rhode) gem盲脽 dem Merger Agreement vom 28. Mai 2025 abgeschlossen. Die aggregierte Closing Consideration betrug $800 million, vorbehaltlich Anpassungen, und setzte sich zusammen aus ungef盲hr $600 million cash und rund $200 million in Stammaktien, die zu $77.1685 je Aktie auf Basis der angegebenen VWAP-Berechnung ausgegeben wurden. Eine bedingte Zahlung (Earn-Out) von bis zu $200 million ist zahlbar basierend auf der Umsatzentwicklung 眉ber drei Jahre: bis zu $100 million bei Erreichen der Prognosen und bis zu weiteren $100 million bei 脺bererf眉llung. Der K盲ufer finanzierte einen Teil der Closing Consideration durch Aufnahmen unter dem Amended Credit Agreement. Das Unternehmen nutzte die Ausnahmen nach Section 4(a)(2)/Rule 506 f眉r die Aktienausgabe und verpflichtete sich, eine Shelf Registration f眉r den Weiterverkauf der Aktien einzureichen. Das Form 8-K f眉hrt eine Pressemitteilung zu den Ergebnissen des Q2 2025 als Exhibit 99.1 bei und weist darauf hin, dass die erforderlichen Abschl眉sse und Pro-forma-Informationen f眉r rhode innerhalb von 71 Tagen eingereicht werden.
- Acquisition completed on August 5, 2025, adding rhode as a wholly owned subsidiary
- $600M Term Facility provides committed funding to support the acquisition and related obligations
- Consideration mix of cash and ~ $200M stock reduces immediate cash burden
- Earn-out structure (up to $200M) aligns seller incentives with future revenue performance
- Company agreed to file a shelf registration to enable resale of merger-related shares
- Increased consolidated total net leverage covenant, indicating higher permitted leverage post-amendment
- Higher borrowing costs: Term Facility margins and revolver unused-commitment fees were increased
- Additional debt service from Term Facility amortization beginning December 31, 2025
- Contingent obligation risk from up to $200M earn-out payable if revenue targets are met
Insights
TL;DR: Acquisition funded partly with a $600M term loan increases leverage and credit costs; impact depends on rhode integration and revenue delivery.
The transaction is materially impactful. The new $600M Term Facility increases funded debt and the amendment raises covenant leverage capacity and borrowing costs via wider interest margins and higher revolver commitment fees. The amortization schedule creates near-term cash service requirements beginning Dec 31, 2025. The acquisition consideration mix鈥�$600M cash and ~ $200M stock鈥攁nd contingent earn-out up to $200M create potential dilution and additional cash obligations if revenue targets are met. Key near-term monitoring items: pro forma leverage, quarterly covenant compliance, rhode revenue performance against earn-out triggers, and integration costs.
TL;DR: Strategic tuck-in acquisition closed; structured consideration aligns seller/ buyer incentives via cash, stock, and earn-out.
The acquisition of rhode for $800M with a significant earn-out component aligns incentives for post-close performance and preserves cash up-front through stock consideration. Financing via the amended credit facility and a dedicated $600M Term Facility demonstrates secured funding for the deal while sharing risk with lenders. The earn-out of up to $200M ties additional payments to revenue delivery, which mitigates some valuation risk. Execution risks include integration and achievement of the three-year revenue projections that determine contingent payments.
Transazione e modifica del credito (Aug 5, 2025)
e.l.f. Beauty, Inc. ha sottoscritto un Fifth Amendment al suo Amended and Restated Credit Agreement che: (i) istituisce una nuova $600 million Term Facility, (ii) apporta modifiche tecniche per includere la Term Facility, (iii) aumenta il covenant relativo al massimo rapporto di leva finanziaria consolidata (consolidated total net leverage ratio) e (iv) aumenta gli spread sugli interessi e le commissioni su impegni non utilizzati sulla Revolving Credit Facility esistente. Il pricing della Term Facility 猫, a scelta del prenditore, SOFR + 1.50%鈥�2.25% (SOFR con floor a 0.00%) oppure un alternate base rate + 0.50%鈥�1.25% (alternate base con floor a 1.00%). Le commissioni sugli impegni non utilizzati sul revolver sono salite a 0.15% e 0.20% rispetto a 0.10% e 0.15% nei due scaglioni tariffari inferiori. L鈥檃mmortamento 猫 1.25% trimestrale per i primi tre anni, poi 1.875% trimestrale per due anni, con scadenza finale il March 3, 2030. I proventi sono disponibili per e.l.f. Cosmetics e alcune controllate per il pagamento del corrispettivo di fusione, l鈥檈stinzione della credit facility di rhode, commissioni/spese e capitale circolante.
Acquisizione di rhode (Completata Aug 5, 2025)
e.l.f. e e.l.f. Cosmetics hanno completato l鈥檃cquisizione di HRBeauty, LLC (rhode) ai sensi del Merger Agreement del 28 maggio 2025. Il Closing Consideration aggregato 猫 stato di $800 million, soggetto ad aggiustamenti, composto da circa $600 million cash e circa $200 million in azioni ordinarie emesse al prezzo di $77.1685 per azione in base alla VWAP specificata. Un corrispettivo condizionato (Earn-Out) fino a $200 million 猫 pagabile in base alla performance dei ricavi su tre anni: fino a $100 million per il raggiungimento delle proiezioni e fino a ulteriori $100 million per il superamento delle stesse. L鈥檃cquirente ha finanziato parte del Closing Consideration con indebitamento previsto dall鈥橝mended Credit Agreement. La Societ脿 si 猫 avvalsa delle esenzioni Section 4(a)(2)/Rule 506 per l鈥檈missione delle azioni e si 猫 impegnata a depositare una shelf registration per la rivendita delle azioni. Il Form 8-K allega un comunicato stampa sui risultati del Q2 2025 come Exhibit 99.1 e indica che i bilanci e le informazioni pro forma richieste per rhode saranno depositati entro 71 giorni.
Transacci贸n y enmienda de cr茅dito (Aug 5, 2025)
e.l.f. Beauty, Inc. celebr贸 una Fifth Amendment a su Amended and Restated Credit Agreement que: (i) establece una nueva $600 million Term Facility, (ii) introduce enmiendas t茅cnicas para a帽adir la Term Facility, (iii) eleva el covenant del ratio m谩ximo permitido de apalancamiento neto consolidado (consolidated total net leverage ratio), y (iv) incrementa los m谩rgenes de inter茅s y las comisiones por compromisos no utilizados en la Revolving Credit Facility existente. El precio de la Term Facility, a elecci贸n del prestatario, es SOFR + 1.50%鈥�2.25% (SOFR con floor en 0.00%) o una tasa base alternativa + 0.50%鈥�1.25% (alternate base con floor en 1.00%). Las comisiones por compromisos no utilizados en el revolver subieron a 0.15% y 0.20% desde 0.10% y 0.15% en los dos tramos de precio inferiores. La amortizaci贸n es 1.25% trimestral durante los primeros tres a帽os, luego 1.875% trimestral durante dos a帽os, con vencimiento final el March 3, 2030. Los fondos est谩n disponibles para e.l.f. Cosmetics y ciertas subsidiarias para el pago del precio de la fusi贸n, la cancelaci贸n de la credit facility de rhode, honorarios/gastos y capital de trabajo.
Adquisici贸n de rhode (Completada Aug 5, 2025)
e.l.f. y e.l.f. Cosmetics completaron la adquisici贸n de HRBeauty, LLC (rhode) conforme al Merger Agreement del 28 de mayo de 2025. La Consideration de Cierre agregada fue de $800 million, sujeta a ajustes, compuesta por aproximadamente $600 million cash y alrededor de $200 million en acciones ordinarias emitidas a $77.1685 por acci贸n seg煤n el c谩lculo VWAP especificado. Un complemento contingente (Earn-Out) de hasta $200 million ser谩 pagadero en funci贸n del rendimiento de ingresos a tres a帽os: hasta $100 million por alcanzar las proyecciones y hasta otros $100 million por superarlas. El comprador financi贸 parte de la Consideration de Cierre con pr茅stamos bajo el Amended Credit Agreement. La Compa帽铆a se apoy贸 en las exenciones Section 4(a)(2)/Rule 506 para la emisi贸n de acciones y acord贸 presentar una shelf registration para la reventa de las acciones. El Form 8-K adjunta un comunicado de prensa sobre los resultados del 2T 2025 como Exhibit 99.1 y se帽ala que los estados financieros e informaci贸n pro forma requeridos para rhode se presentar谩n dentro de 71 d铆as.
瓯半灅 氚� 鞁犾毄 鞎届爼 靾橃爼(2025雲� 8鞗� 5鞚�)
e.l.f. Beauty, Inc.電� 攴鸽摛鞚� Amended and Restated Credit Agreement鞐� 雽�頃� Fifth Amendment毳� 觳搓舶頄堨溂氅�, 鞚措鞃�: (i) 靸堧鞖� $600 million Term Facility毳� 鞁犾劋頃橁碃, (ii) Term Facility毳� 於旉皜頃橁赴 鞙勴暅 旮办垹鞝� 靾橃爼鞚� 鞚措（鞏挫氅�, (iii) 項堨毄霅橂姅 韱淀暕 靾滊秬毂� 雽�牍� 霠堧矂毽 牍勳湪(consolidated total net leverage ratio) 靸來暅鞚� 靸來枼 臁办爼頃橁碃, (iv) 旮办〈 Revolving Credit Facility鞚� 鞚挫瀽 毵堨 氚� 氙胳偓鞖� 鞎届爼 靾橃垬耄岆ゼ 鞚胳儊頄堨姷雼堧嫟. Term Facility鞚� 旮堧Μ 鞓奠厴鞚� 彀瀰鞛� 靹犿儩鞐� 霐半澕 SOFR + 1.50%鈥�2.25% (SOFR電� 0.00%搿� 頃橅暅) 霕愲姅 雽�觳� 旮办旮堧Μ(alternate base rate) + 0.50%鈥�1.25% (雽�觳� 旮办旮堧Μ 頃橅暅 1.00%)鞛呺媹雼�. 霠堧臣氩勳潣 氙胳偓鞖� 鞎届爼 靾橃垬耄岆姅 霊� 雮潃 臧�瓴╇寑鞐愳劀 0.10% 氚� 0.15%鞐愳劀 0.15% 氚� 0.20%搿� 鞚胳儊霅橃棃鞀惦媹雼�. 靸來櫂鞚� 觳橃潓 3雲勱皠 攵勱赴氤� 1.25%, 攴鸽嫟鞚� 2雲勱皠 攵勱赴氤� 1.875%鞚措┌, 斓滌 毵岅赴電� March 3, 2030鞛呺媹雼�. 鞛愱笀鞚� 頃╇硲 雽�旮�, rhode鞚� 鞁犾毄鞁滌劋 靸來櫂, 靾橃垬耄�/牍勳毄 氚� 鞖挫爠鞛愲掣鞚� 鞙勴暣 e.l.f. Cosmetics 氚� 韸轨爼 鞛愴殞靷摛鞚� 靷毄頃� 靾� 鞛堨姷雼堧嫟.
rhode 鞚胳垬 (鞕勲: 2025雲� 8鞗� 5鞚�)
e.l.f. 氚� e.l.f. Cosmetics電� 2025雲� 5鞗� 28鞚� 觳搓舶霅� Merger Agreement鞐� 霐半澕 HRBeauty, LLC (rhode) 鞚胳垬毳� 鞕勲頄堨姷雼堧嫟. 齑� 韥措歆� 雽�旮堨潃 臁办爼 雽�靸侅澑 $800 million鞚挫棃瓿�, 鞎� $600 million cash鞕� 歆�鞝曤悳 VWAP 瓿勳偘鞐� 霐半澕 欤茧嫻 $77.1685搿� 氚滍枆霅� 鞎� $200 million鞚� 氤错喌欤茧 甑劚霅橃棃鞀惦媹雼�. 斓滊寑 $200 million鞚� 臁瓣贝攵� 雽�旮�(Earn-Out)鞚� 3雲勱皠鞚� 毵れ稖 鞁れ爜鞐� 霐半澕 歆�旮夒悩氅�: 瓿勴殟 雼劚 鞁� 斓滊寑 $100 million, 齑堦臣 雼劚 鞁� 於旉皜搿� 斓滊寑 $100 million鞚� 歆�旮夒惄雼堧嫟. 毵れ垬鞚胳潃 Amended Credit Agreement鞐� 霐半ジ 彀瀰鞙茧 韥措歆� 雽�旮堨潣 鞚茧秬毳� 臁半嫭頄堨姷雼堧嫟. 須岇偓電� 欤检嫕 氚滍枆鞐� 雽�頃� Section 4(a)(2)/Rule 506鞚� 氅挫牅毳� 鞝侅毄頄堨溂氅�, 氚滍枆 欤检嫕鞚� 鞛寪毵るゼ 鞙勴暅 shelf registration鞚� 鞝滌稖頃橁赴搿� 頃╈潣頄堨姷雼堧嫟. Form 8-K鞐愲姅 Q2 2025 鞁れ爜鞐� 甏�頃� 氤措弰鞛愲臧� Exhibit 99.1搿� 觳秬霅橃柎 鞛堦碃, rhode鞐� 雽�頃� 鞖旉惮霅橂姅 鞛鞝滍憸 氚� pro forma 鞝曤炒電� 71鞚� 鞚措偞鞐� 鞝滌稖霅� 鞓堨爼鞛勳潉 氇呾嫓頃╇媹雼�.
Amendement de cr茅dit et op茅ration (Aug 5, 2025)
e.l.f. Beauty, Inc. a conclu un Fifth Amendment 脿 son Amended and Restated Credit Agreement qui : (i) 茅tablit une nouvelle $600 million Term Facility, (ii) comporte des amendements techniques pour ajouter la Term Facility, (iii) augmente le covenant du ratio maximal d'endettement net consolid茅 (consolidated total net leverage ratio), et (iv) rel猫ve les marges d'int茅r锚t et les frais pour engagements non utilis茅s sur la Revolving Credit Facility existante. Le pricing de la Term Facility, au choix de l'emprunteur, est SOFR + 1.50%鈥�2.25% (plancher SOFR 脿 0.00%) ou un taux de base alternatif + 0.50%鈥�1.25% (plancher alternate base 脿 1.00%). Les frais d'engagement non utilis茅s sur le revolver ont augment茅 脿 0.15% et 0.20% contre 0.10% et 0.15% dans les deux tranches tarifaires inf茅rieures. L'amortissement est de 1.25% trimestriel pendant les trois premi猫res ann茅es, puis de 1.875% trimestriel pendant deux ans, avec 茅ch茅ance finale le March 3, 2030. Les produits sont disponibles pour e.l.f. Cosmetics et certaines filiales pour le paiement du prix de la fusion, le remboursement de la credit facility de rhode, les frais/d茅penses et le fonds de roulement.
Acquisition de rhode (Termin茅e Aug 5, 2025)
e.l.f. et e.l.f. Cosmetics ont finalis茅 l'acquisition de HRBeauty, LLC (rhode) en vertu du Merger Agreement du 28 mai 2025. La Closing Consideration agr茅g茅e s'est 茅lev茅e 脿 $800 million, sous r茅serve d'ajustements, compos茅e d'environ $600 million cash et d'environ $200 million en actions ordinaires 茅mises 脿 $77.1685 par action selon le calcul VWAP sp茅cifi茅. Une contrepartie conditionnelle (Earn-Out) pouvant atteindre $200 million est payable en fonction de la performance des revenus sur trois ans : jusqu'脿 $100 million si les projections sont atteintes et jusqu'脿 $100 million suppl茅mentaires en cas de d茅passement. L'acheteur a financ茅 une partie de la Closing Consideration par des emprunts au titre de l'Amended Credit Agreement. La Soci茅t茅 s'est appuy茅e sur les exemptions Section 4(a)(2)/Rule 506 pour l'茅mission des actions et a accept茅 de d茅poser une shelf registration couvrant la revente des actions. Le Form 8-K joint un communiqu茅 de presse sur les r茅sultats du T2 2025 en tant qu'Exhibit 99.1 et indique que les 茅tats financiers requis et les informations pro forma pour rhode seront d茅pos茅s dans un d茅lai de 71 jours.
Transaktions- und Kredit盲nderung (Aug 5, 2025)
e.l.f. Beauty, Inc. hat einen Fifth Amendment zu seinem Amended and Restated Credit Agreement abgeschlossen, der: (i) eine neue $600 million Term Facility einrichtet, (ii) technische 脛nderungen zur Aufnahme der Term Facility vornimmt, (iii) die maximal zul盲ssige konsolidierte Nettoverschuldungsquote (consolidated total net leverage ratio) erh枚ht und (iv) die Zinsmargen und die Geb眉hren f眉r nicht genutzte Verpflichtungen der bestehenden Revolving Credit Facility anhebt. Die Konditionen der Term Facility sind nach Wahl des Kreditnehmers SOFR + 1.50%鈥�2.25% (SOFR-Floor 0.00%) oder ein alternativer Basiszinssatz + 0.50%鈥�1.25% (alternate base-Floor 1.00%). Die Geb眉hren f眉r nicht genutzte Verpflichtungen des Revolvers stiegen in den beiden niedrigeren Pricing-Stufen von 0.10%/0.15% auf 0.15% und 0.20%. Die Tilgung betr盲gt 1.25% pro Quartal in den ersten drei Jahren, danach 1.875% pro Quartal f眉r zwei Jahre; Endf盲lligkeit ist der March 3, 2030. Die Mittel stehen e.l.f. Cosmetics und bestimmten Tochtergesellschaften zur Verf眉gung zur Finanzierung des Kaufpreises der 脺bernahme, zur Abl枚sung der Kreditfazilit盲t von rhode, f眉r Geb眉hren/Aufwendungen und f眉r das Umlaufverm枚gen.
Erwerb von rhode (Abgeschlossen Aug 5, 2025)
e.l.f. und e.l.f. Cosmetics haben den Erwerb von HRBeauty, LLC (rhode) gem盲脽 dem Merger Agreement vom 28. Mai 2025 abgeschlossen. Die aggregierte Closing Consideration betrug $800 million, vorbehaltlich Anpassungen, und setzte sich zusammen aus ungef盲hr $600 million cash und rund $200 million in Stammaktien, die zu $77.1685 je Aktie auf Basis der angegebenen VWAP-Berechnung ausgegeben wurden. Eine bedingte Zahlung (Earn-Out) von bis zu $200 million ist zahlbar basierend auf der Umsatzentwicklung 眉ber drei Jahre: bis zu $100 million bei Erreichen der Prognosen und bis zu weiteren $100 million bei 脺bererf眉llung. Der K盲ufer finanzierte einen Teil der Closing Consideration durch Aufnahmen unter dem Amended Credit Agreement. Das Unternehmen nutzte die Ausnahmen nach Section 4(a)(2)/Rule 506 f眉r die Aktienausgabe und verpflichtete sich, eine Shelf Registration f眉r den Weiterverkauf der Aktien einzureichen. Das Form 8-K f眉hrt eine Pressemitteilung zu den Ergebnissen des Q2 2025 als Exhibit 99.1 bei und weist darauf hin, dass die erforderlichen Abschl眉sse und Pro-forma-Informationen f眉r rhode innerhalb von 71 Tagen eingereicht werden.
FAQ
What did e.l.f. (ELF) announce in the Form 8-K dated August 6, 2025?
How much did e.l.f. pay to acquire rhode and what was the payment mix?
What are the financing terms of the new Term Facility added to e.l.f.'s credit agreement?
Is there contingent consideration in the rhode acquisition?
Did e.l.f. rely on registration exemptions for the stock issued in the transaction?
Will financial statements for rhode be filed?
