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AI brief of an SEC Form 8-K · Paylocity (PCTY)

Paylocity to acquire Airbase for about $325 million in cash

Mixed Impact 5 of 5 m&a Written later

Paylocity agreed on August 29, 2024 to acquire Airbase Inc., a spend management software provider, for about $325 million in cash through a merger, and announced the deal on September 4, 2024. The company expects the deal to be funded by revolving credit facility borrowings and to dilute adjusted EBITDA margin by about 100 basis points in fiscal 2025, which matters to shareholders because it adds debt-funded spending and lower near-term margins while expanding the company's product range.

Key points

  • Purchase price of approximately $325 million in cash, subject to customary adjustments, funded by revolving credit facility borrowings
  • Expected to represent about 1% of total revenue in fiscal 2025 and dilute adjusted EBITDA margin by about 100 basis points in fiscal 2025
  • Paylocity had $401.8 million of cash and cash equivalents as of June 30, 2024, and has $350 million remaining under its share repurchase authorization
  • Closing expected in the first or second quarter of fiscal 2025, subject to Hart-Scott-Rodino waiting period expiration and Airbase stockholder approval

The filing

CompanyPaylocity (PCTY)
Form8-K, current report
Filed with the SECSep 4, 2024, 4:07 PM ET
Accession number0001591698-24-000222

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

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:17 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 04, 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.