Company: KEQU
Filing Date: 2025-07-02
Form Type: 10-K
Source: 0000055529-25-000026
Chunk: 173

Company: KEWAUNEE SCIENTIFIC CORP /DE/
Filing Date: 2025-07-02
Form: 10-K
Item: Item 1A
Chunk 173
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ire23,000 Payment of Nu Aire transaction expenses311 Purchase Price$52,980 The Transaction was accounted for as a business combination using the acquisition method of accounting in accordance with ASC 805, Business Combinations. The purchase price was allocated to the assets acquired and liabilities assumed based on the estimated fair values at the date of acquisition. The excess of the purchase price over the fair value of the net assets acquired was allocated to goodwill, none of which is expected to be deductible for tax purposes. Goodwill arising from the Transaction is attributable to the value of the acquired assembled workforce and the premium paid.The April 30, 2025 Consolidated Balance Sheet includes the assets and liabilities of Nu Aire, which have been measured at fair value as of the Closing Date. The preliminary allocation of purchase price recorded for Nu Aire was as follows:

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($ in thousands)Initial AllocationMeasurement Period AdjustmentsAs AdjustedAssets acquired:Cash and cash equivalents$1,245 $— $1,245 Receivables10,650 — 10,650 Inventories13,744 1,778 15,522 Prepaid expenses and other current assets852 — 852 Property, plant and equipment7,349 — 7,349 Other intangible assets18,600 — 18,600 Goodwill14,150 (1,663)12,487 Right of use assets7,376 — 7,376 Other assets7 — 7 Total assets acquired73,973 115 74,088 Liabilities assumed:Current portion of operating lease liabilities(965)— (965)Accounts payable(4,318)— (4,318)Employee compensation and amounts withheld(2,642)— (2,642)Deferred revenue(935)— (935)Other accrued expenses(1,591)— (1,591)Long-term portion of operating lease liabilities(5,167)— (5,167)Deferred income taxes(5,375)(115)(5,490)Total liabilities assumed(20,993)(115)(21,108)Preliminary aggregate acquisition consideration$52,980 $— $52,980 During the year ended April 30, 2025, the Company recorded a $1.8 million measurement period adjustment to increase inventory as a result of revised capitalized variances related to work-in-progress as of the acquisition date, with a corresponding