Introductory Note.
As previously announced, on November 20, 2023, Jacobs Solutions Inc. (the “Company” or “Jacobs”), Amazon Holdco Inc., a wholly owned subsidiary of the Company (“SpinCo”), Amentum Parent Holdings LLC (“Amentum”) and Amentum Joint Venture LP, the sole equityholder of Amentum, entered into an Agreement and Plan of Merger, pursuant to which the Company agreed to spin off and combine its Critical Mission Solutions and Cyber & Intelligence government services businesses with Amentum, subject to the terms and subject to the conditions set forth therein (the “Transactions”).
Item 7.01 | Regulation FD Disclosure. |
SpinCo (to be renamed Amentum Holdings, Inc.) previously filed with the U.S. Securities and Exchange Commission (the “SEC”) a registration statement on Form 10 (File No. 001-42176), initially publicly filed on July 15, 2024 (as amended, the “Registration Statement”), relating to Jacobs’ spin-off of SpinCo.
On September 18, 2024, the Registration Statement was declared effective by the SEC. The Registration Statement includes a preliminary information statement that describes the distribution and provides information regarding SpinCo’s, Jacobs’ and Amentum’s businesses. The final information statement, dated September 18, 2024 (the “Information Statement”) is attached hereto as Exhibit 99.1.
As further described in the Information Statement, Jacobs expects to distribute one share of SpinCo’s common stock, par value $0.01 per share (“SpinCo Common Stock”), for every share of Jacobs common stock held as of the close of business on September 23, 2024, the record date for the distribution. Subject to the satisfaction or waiver of certain conditions, as more fully described in the Information Statement, the Transactions are expected to be completed on September 27, 2024.
It is expected that a “when-issued” public trading market for SpinCo Common Stock will commence on the New York Stock Exchange on or about September 24, 2024, and will continue up to and including the distribution date of Friday, September 27, 2024, under the ticker symbol “AMTM WI,” and that “regular-way” trading of SpinCo Common Stock will begin on September 30, 2024, under the ticker symbol “AMTM.”
The information contained herein, including Exhibit 99.1, is being furnished pursuant to Item 7.01 of Form 8-K, “Regulation FD Disclosure.” This information shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing. The furnishing of this information will not be deemed an admission as to the materiality of any information contained herein.
Forward-Looking Statements
Certain statements contained in this communication constitute forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that do not directly relate to any historical or current fact. When used herein, words such as “expects,” “anticipates,” “believes,” “seeks,” “estimates,” “plans,” “intends,” “future,” “will,” “would,” “could,” “can,” “may,” “target,” “goal” and similar words are intended to identify forward-looking statements. Examples of forward-looking statements include, but are not limited to, statements we make concerning the expected timing of our plans to spin off and merge Jacobs’ Critical Mission Solutions and Cyber & Intelligence government services businesses with Amentum (hereinafter referred to collectively as the “combined business” or the “combined company”), Jacobs’ and its shareholders’ respective ownership percentages in the combined company, the disposition of Jacobs’ retained stake in the combined company, the expected timing or amount of any future distribution of contingent consideration, the structure and tax treatment of the proposed transaction, the ability of the parties to complete the proposed transaction, the potential benefits and synergies of the proposed transaction, including future financial and operating results and strategic benefits, the description of the combined company’s anticipated revenue, business and growth opportunities, and the combined company’s plans, objectives, expectations and intentions, legal, economic and regulatory conditions, and any assumptions underlying any of the foregoing.