Form 8-K - Current report
23 Octubre 2023 - 3:30PM
Edgar (US Regulatory)
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2023-10-23
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
Current Report
Pursuant to Section 13 OR 15(d) of The
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 23, 2023
Sovos Brands, Inc.
(Exact name of registrant as specified in its
charter)
Delaware |
001-40837 |
81-5119352 |
(State or other jurisdiction
of incorporation) |
(Commission File Number) |
(IRS Employer
Identification No.) |
168 Centennial Parkway, Suite 200
Louisville, CO |
|
80027 |
(Address
of principal executive offices) |
|
(Zip
Code) |
(720) 316-1225
(Registrant’s telephone number, including
area code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ | Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b)
of the Act:
Title of each class |
|
Trading Symbol(s) |
|
Name
of each exchange on which registered |
Common Stock, $0.001 par value |
|
SOVO |
|
The Nasdaq Stock Market LLC
(Nasdaq Global Select Market) |
Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange
Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company x
If an emerging
growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any
new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 7.01 Regulation FD Disclosure.
As previously disclosed, on August 7, 2023, Sovos
Brands, Inc., a Delaware corporation (the “Company”), entered into an Agreement and Plan of Merger (the “Merger
Agreement”) with Campbell Soup Company, a New Jersey corporation (“Campbell”), and Premium Products Merger
Sub, Inc., a Delaware corporation and a wholly-owned subsidiary of Campbell (“Merger Sub”). The Merger Agreement provides,
among other things, that subject to the satisfaction or waiver of the conditions set forth therein, including the expiration or termination
of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”),
Merger Sub will merge with and into the Company (the “Merger”) and the Company will become a wholly owned subsidiary
of Campbell.
On October 23, 2023, the Company and Campbell
each received a request for additional information (the “Second Request”) from the U.S. Federal Trade Commission (the
“FTC”) in connection with the FTC’s review of the transactions contemplated by the Merger Agreement. Issuance
of the Second Request extends the waiting period under the HSR Act until 30 days after both the Company and Campbell substantially comply
with the Second Request, unless the waiting period is extended voluntarily by the parties or terminated earlier by the FTC. The Company
and Campbell have been working cooperatively with the FTC and will continue to do so.
The Company now expects that the Merger will close
in 2024, and the Company will continue to engage with the FTC on its review with the objective of closing the Merger in mid-2024.
The information provided under this Item 7.01
of this Current Report on Form 8-K is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the
Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section,
nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended (the “Securities
Act”), or the Exchange Act except as shall be expressly set forth by specific reference in such filing.
Cautionary Statement Regarding Forward-Looking
Statements
Certain statements in this Current Report on Form
8-K regarding the proposed transaction, including any statements regarding the expected timetable for completing the proposed transaction,
and any other statements regarding future expectations or future events or outcomes that are not historical facts are “forward-looking”
statements made within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange
Act of 1934, as amended.
All forward-looking information is subject to
numerous risks and uncertainties, many of which are beyond the control of the Company or Campbell, that could cause actual results to
differ materially from the results expressed or implied by the statements. These risks and uncertainties include, but are not limited
to: the timing to consummate the proposed transaction; the risk that a condition to closing of the proposed transaction may not be satisfied
or that the closing of the proposed transaction might otherwise not occur; the diversion of management time on transaction-related issues;
and the risk that the transaction and its announcement could have an adverse effect on the Company’s ability to retain customers
and retain and hire key personnel. Additional information concerning these and other risk factors can be found in the Company’s
filings with the SEC and available through the SEC’s Electronic Data Gathering and Analysis Retrieval system at http://www.sec.gov,
including the Company’s Definitive Proxy Statement relating to the proposed transaction filed on September 13, 2023, the Company’s
Definitive Additional Materials filed on October 10, 2023, the Company’s most recent Annual Report on Form 10-K, Quarterly Reports
on Form 10-Q and Current Reports on Form 8-K. The foregoing list of important factors is not exclusive.
Forward-looking statements represent managements’
beliefs and assumptions only as of the date of this communication. The Company disclaims any obligation to update forward-looking statements
except as required by law.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the
undersigned thereto duly authorized.
|
SOVOS BRANDS, INC. |
|
|
|
By: |
/s/ Isobel A. Jones |
|
Name: |
Isobel A. Jones |
|
Title: |
Secretary |
|
|
|
Date: October 23, 2023 |
|
|
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Document Period End Date |
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|
Entity File Number |
001-40837
|
Entity Registrant Name |
Sovos Brands, Inc.
|
Entity Central Index Key |
0001856608
|
Entity Tax Identification Number |
81-5119352
|
Entity Incorporation, State or Country Code |
DE
|
Entity Address, Address Line One |
168 Centennial Parkway
|
Entity Address, Address Line Two |
Suite 200
|
Entity Address, City or Town |
Louisville
|
Entity Address, State or Province |
CO
|
Entity Address, Postal Zip Code |
80027
|
City Area Code |
720
|
Local Phone Number |
316-1225
|
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SOVO
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