Company: CVCO
Filing Date: 2025-07-14
Form Type: 8-K
Source: 0000278166-25-000105
Chunk: 1

Company: CAVCO INDUSTRIES, INC.
Filing Date: 2025-07-14
Form: 8-K
Item: Item 1.01
Chunk 1
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 nature. Among other things, American Homestar has agreed to conduct its operations in the ordinary course during the period between the execution of the Merger Agreement and the Effective Time. Other than with respect to claims for fraud, the representations and warranties set forth in the Merger Agreement will expire upon consummation of the Merger. The Company has obtained a representations and warranties insurance policy, pursuant to which the Company may obtain insurance recoveries for breaches of representations and warranties of American Homestar under the Merger Agreement, subject to certain limitations and exclusions.

The consummation of the Merger and the payment of the Base Merger Consideration by the Company are subject to the satisfaction or waiver of customary closing conditions, which include, among other things: (i) the approval of the Merger Agreement and the transactions contemplated therein, including the Merger, by the holders of at least 80% of the total voting power of the outstanding capital stock of American Homestar; (ii) the expiration or termination of any applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended; (iii) each party’s material compliance with its covenants; (iv) the absence of breaches of each party’s representations and warranties (subject to materiality exceptions); and (v) the absence of a material adverse effect on the businesses of the Company or American Homestar.

The Merger Agreement contains customary termination rights for both the Company and American Homestar, including, among others, if the Merger is not consummated on or before October 31, 2025. Upon termination of the Merger Agreement, under specified circumstances, American Homestar will be required to pay the Company a termination fee of $6,000,000. Such circumstances include termination of the Merger Agreement in connection with American Homestar accepting and entering into a binding contract to consummate a proposal from a third party (other than the Company) for a merger, debt or equity capitalization, sale of all or a majority of its assets, or a similar transaction.

The parties expect the Closing to occur in the Company’s third quarter of fiscal year 2026.

Additional Information

The foregoing description of the Merger Agreement is not complete and is qualified in its entirety by reference to the full text of the Merger Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference. The Merger Agreement has been attached to provide investors with information