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AI brief of an SEC Form 8-K · Knowles (KN)

Knowles to sell Consumer MEMS Microphones unit to Syntiant for $150 million

Neutral Impact 4 of 5 m&a Written later

Knowles agreed to sell its Consumer MEMS Microphones business to Syntiant Corp for $150 million, consisting of $70 million in cash and $80 million in Syntiant Series D-2 preferred stock, subject to adjustments. The company said it intends to use the net cash proceeds to pay down debt and repurchase company stock, and it updated its third quarter 2024 guidance to present the business as discontinued operations.

Key points

  • Total consideration of $150 million: $70 million in cash and $80 million in Syntiant preferred stock, subject to working capital and other adjustments
  • Closing is expected in the fourth quarter of 2024 and is subject to regulatory approvals and other conditions; either party may terminate if the deal has not closed by December 31, 2024, subject to extensions
  • Third quarter 2024 revenue from continuing operations guided to $139 million to $143 million; fourth quarter 2024 revenue outlook is $140 million to $150 million
  • Pro forma 2023 revenue excluding the business was $559.8 million, per the filing's reconciliation

The filing

CompanyKnowles (KN)
Form8-K, current report
Filed with the SECSep 19, 2024, 9:09 AM ET
Accession number0001587523-24-000076

Items reported: 1.01 Material Definitive Agreement7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:49 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on September 19, 2024.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.