Company: JACK
Filing Date: 2025-10-16
Form Type: 8-K
Source: 0000807882-25-000053
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Company: JACK IN THE BOX INC
Filing Date: 2025-10-16
Form: 8-K
Item: Item 1.01
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Item 1.01

Entry into a Material Definitive Agreement

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On October 15, 2025, Jack in the Box Inc., a Delaware corporation (the “Company”), entered into a Stock Purchase Agreement (the “ Purchase Agreement”) with Yadav Enterprises, Inc., a California corporation (“ Buyer”) and Anil Yadav, a natural person (“Buyer Guarantor”) to sell to Buyer all of the issued and outstanding equity interests of Del Taco Holdings Inc., a Delaware corporation (the “Del Taco”), which owns and operates the Company’s Del Taco restaurant operations, for an aggregate purchase price of $115 million in cash, subject to certain closing cash, working capital, debt and transaction expense adjustments (the “Transaction”). The Company expects to use the net cash proceeds from the Transaction (after taxes and transaction costs) to retire debt within its securitization structure, specifically to repay part of the Company’s existing Series 2019-1 4.476% Fixed Rate Senior Secured Notes, Class A-2-II.

Each party’s obligation to consummate the Transaction is subject to certain closing conditions, including: (i) the absence of any law or order enjoining or otherwise prohibiting the Transaction; (ii) the accuracy of the representations and warranties of the other party (generally subject to materiality qualifiers); and (iii) compliance by the other party with its covenants in all material respects. The Transaction is currently expected to close by January 2026.

The Purchase Agreement contains customary representations, warranties and covenants by each party that are subject, in some cases, to specified exceptions and qualifications contained in the Purchase Agreement.

The Purchase Agreement also includes certain termination rights, including for termination (i) by either party if the Transaction is not consummated on or before April 15, 2026, (ii) by either party if any law or order from a governmental entity permanently prohibits consummation of the Transaction, or (iii) by either party if the other party is in material breach of its respective representations and warranties or covenants under the Purchase Agreement such that a closing condition is not satisfied (subject to a cure period).

Pursuant to the Purchase Agreement, the Company and Del Taco will enter into a transition services agreement at the closing of the Transaction.

As part of the Purchase Agreement, Buyer Guarantor has guaranteed Buyer’s payment and performance obligations under the Purchase Agreement to the Company, subject to customary terms and conditions.

The foregoing description of the Purchase Agreement and the transactions