Company: SPR
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001364885-25-000011
Chunk: 138

Company: Spirit AeroSystems Holdings, Inc.
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 1
Chunk 138
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 consummating the transactions contemplated by the Agreement and such other transaction documents (the “Parent Shareholder Approval”).

The Agreement contains customary representations, warranties and covenants related to Spirit Malaysia, Spirit and CTRM. Between the date of the Agreement and the Malaysia Closing, subject to specified exceptions, Spirit has agreed to cause Spirit Malaysia to (a) use commercially reasonable efforts to operate the Spirit Malaysia’s business in the ordinary course of business in all material respects, and (b) not to take specified actions with respect to the business of Spirit Malaysia without the written consent of CTRM.

The Agreement includes termination provisions in favor of Spirit and CTRM, including that (a) either Spirit or CTRM may terminate the Agreement if the Transaction has not been consummated by December 31, 2025, subject to one automatic 90-day extension if, on such date, all of the closing conditions except the Regulatory Condition have been satisfied (or are capable of being satisfied) or waived (such date, as so extended (if applicable), the “Outside Date”), (b) Spirit may terminate the Agreement if the Parent Shareholder Approval is not obtained at the meeting of Parent shareholders at which the applicable matters relating to the Transaction have been voted upon or Parent fails to perform or comply with its obligations under the Agreement relating to such meeting of Parent shareholders (and, in the event of such a termination by Spirit, CTRM would be required to pay Spirit a termination fee of $7.0 million) and (c) Spirit may terminate the Agreement if the Purchaser Approval Condition has not been satisfied by December 31, 2025 or the applicable governmental authority has issued an order or provided a communication opposing or rejecting CTRM as the purchaser of Spirit Malaysia or the business of Spirit Malaysia (and, in the event of such a termination by Spirit, Spirit would be required to pay CTRM a termination fee of $7.0 million unless a breach by CTRM or its affiliates of obligations under specified provisions of the Agreement relating to governmental approvals caused Spirit to have such right to terminate the Agreement).

Disposition of Fiber Materials, Inc.

On November 17, 2024, the Company entered into a definitive agreement to sell Fiber Materials, Inc. (“FMI”), a fully owned subsidiary of Spirit AeroSystems, Inc., for $165.0 million, subject to customary purchase price adjustments and closing conditions as set forth in the definitive agreement. The transaction closed on January 13, 2025. For additional