Summary
L3Harris Technologies, Inc. (LHX) filed an 8-K on July 1, 2019, detailing significant corporate changes following the consummation of a merger. The primary event reported is the completion of the merger between Harris Corporation and L3 Technologies, Inc., which resulted in the combined entity being renamed L3Harris Technologies, Inc. This filing formally amends the company's articles of incorporation and bylaws to reflect this new identity and structure. Investors should note the strategic implications of this merger, which aimed to create a larger, more integrated defense and aerospace technology company. Furthermore, a critical operational change is the adjustment of the company's fiscal year end. Previously aligning with June 30, the fiscal year will now conclude on the Friday nearest December 31, effective June 29, 2019. This necessitates a fiscal transition period extending from June 29, 2019, to January 3, 2020. This change in fiscal year reporting is a significant event that investors will need to consider when analyzing the company's financial performance and reporting periods going forward.
Key Highlights
- 1Completion of the merger between Harris Corporation and L3 Technologies, Inc. on June 29, 2019.
- 2The combined entity has been officially renamed L3Harris Technologies, Inc.
- 3Amendments to the Restated Certificate of Incorporation and Bylaws to reflect the new corporate name and structure.
- 4Change in fiscal year end from the Friday nearest June 30 to the Friday nearest December 31, effective June 29, 2019.
- 5Establishment of a fiscal transition period from June 29, 2019, to January 3, 2020.