Skip to content
AnalystLens

L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Financial Obligation (Jan 3, 2023)

Reports
Financial Events·Regulation FD·Exhibits & Filings
Filing Date
Filed January 3, 2023
Period End
January 3, 2023
Security
LHX
In the record · 2016–202610-K1110-Q328-K177

LHX filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 177 current reports (8-K) between 2016 and 2026.

  1. Deal closed8-K · May ’17May ’17
  2. Deal closed8-K · Jul ’19Jul ’19
  3. Leadership change8-K · Jan ’22Jan ’22
  4. Leadership change8-K · Aug ’26Aug ’26

01—Abstract

Summary

Summary of the 8-K filed January 3, 2023. Cited figures are marked; the original filing is the authoritative source.

L3Harris Technologies, Inc. (LHX) announced on January 3, 2023, the completion of its acquisition of Viasat, Inc.'s tactical data links product line for approximately $1.96 billiona in cash.

To finance this acquisition, the company drew $2.0 billionb from its senior unsecured term loan facility, which was previously disclosed in a November 28, 2022, 8-K filing. This strategic move aims to expand L3Harris's capabilities and market presence within the tactical data links segment. Investors should note the significant cash outlay and the corresponding increase in debt financing.

While the acquisition is expected to enhance L3Harris's product portfolio and competitive position, the financial implications, including the cost of debt and integration of the new business, will be crucial to monitor. The company has provided a press release detailing the transaction, which is incorporated by reference.

02—Key points

Key Highlights

  1. L3Harris has successfully completed the acquisition of Viasat's tactical data links product line.
  2. The purchase price for the Viasat product line was approximately $1.96 billion in cash, subject to customary adjustments.
  3. The company drew $2.0 billion from its senior unsecured term loan facility to fund the acquisition and related expenses.
  4. This facility is a three-year senior unsecured term loan, previously disclosed.
  5. The acquisition is expected to strengthen L3Harris's position in the tactical data links market.
  6. The company issued a press release on January 3, 2023, to announce the completion of the acquisition.

03—Questions

Frequently Asked Questions

  1. What was the main purpose of this 8-K filing?

    This filing primarily serves to announce the completion of L3Harris's acquisition of Viasat's tactical data links product line and to disclose the financing details, specifically drawing $2.0 billion from its term loan facility to fund the transaction.

  2. How was the acquisition of Viasat's tactical data links product line financed?

    The acquisition was financed through a cash purchase of approximately $1.96 billion. L3Harris funded this by drawing $2.0 billion from its pre-existing three-year senior unsecured term loan facility.

  3. What is the strategic importance of acquiring Viasat's tactical data links product line?

    The acquisition is expected to enhance L3Harris's capabilities and market share within the tactical data links sector, bolstering its product offerings and competitive standing in this segment of the defense and aerospace industry.

  4. Are there any immediate financial implications for investors to consider?

    Investors should be aware of the increased debt on the company's balance sheet due to the $2.0 billion term loan draw. The cost of this debt, the integration of the acquired assets, and the expected synergies and future profitability of the new product line will be key factors to monitor.

04—Continue

← View all 8-K filings