Mergers & Acquisitions ·
Amends merger agreement with SFE Group to change RSU inducement plan for key personnel
EPACEnerpac Tool Group Corp
Enerpac Tool Group Corp. entered into a First Amendment to its Agreement and Plan of Merger with Specialized Fabrication Equipment Group LLC (SFE Group). The amendment changes the equity award plan used for Restricted Stock Unit awards given to SFE Group's key personnel in lieu of cash transaction bonuses, switching from the 2017 Omnibus Incentive Plan to a newly adopted Inducement Award Plan. It also adds conditions requiring these personnel to execute award agreements and clarifies closing date adjustments for merger consideration regarding SFE Group's cash, debt, and expenses. Enerpac Tool Group Corp. operates in the industrial tools industry, providing hydraulic and mechanical tooling solutions.