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ADV Advantage Solutions Inc

3.05
0.06 (2.01%)
24 Dec 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Advantage Solutions Inc NASDAQ:ADV NASDAQ Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.06 2.01% 3.05 2.70 3.21 3.05 2.96 3.00 104,750 22:00:00

Form 8-K - Current report

31/07/2024 4:22pm

Edgar (US Regulatory)


0001776661false0001776661adv:WarrantsToPurchaseClassCommonStockMember2024-07-312024-07-310001776661adv:ClassCommonStock0.0001ParValuePerShareMember2024-07-312024-07-3100017766612024-07-312024-07-31

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 31, 2024

 

 

Advantage Solutions Inc.

(Exact name of Registrant as Specified in Its Charter)

 

 

Delaware

001-38990

83-4629508

(State or Other Jurisdiction
of Incorporation)

(Commission File Number)

(IRS Employer
Identification No.)

 

 

 

 

 

8001 Forsyth Boulevard, Suite 1025

 

Clayton, Missouri

 

63105

(Address of Principal Executive Offices)

 

(Zip Code)

 

Registrant’s Telephone Number, Including Area Code: (314) 655-9333

 

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class

 

Trading
Symbol(s)

 


Name of each exchange on which registered

Class A common stock, $0.0001 par value per share

 

ADV

 

NASDAQ Global Select Market

Warrants exercisable for one share of Class A common stock at an exercise price of $11.50 per share

 

ADVWW

 

NASDAQ Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 


Item 7.01 Regulation FD.

On July 31, 2024, Advantage Solutions Inc. (the “Company”) issued a press release announcing the completion of the sale of its Jun Group business unit to Verve Group, a Swedish digital advertising company formerly known as Media and Games Invest SE. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The information being furnished pursuant to Item 7.01 of this Current Report on Form 8-K, including the accompanying Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

 

Exhibit No.

 

Description

 

99.1

 

Press Release issued by Advantage Solutions Inc. dated July 31, 2024.

 

104

 

Cover Page Interactive Data File (embedded within the Inline XBRL document).

 


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

Date

 

July 31, 2024

 

ADVANTAGE SOLUTIONS INC.

 

 

 

 

 

 

By:

/s/ Christopher Growe

 

 

 

Christopher Growe
Chief Financial Officer

 


Advantage Solutions completes sale of Jun Group

ST. LOUIS, July 31, 2024 — (GLOBE NEWSWIRE) – Advantage Solutions Inc. (NASDAQ: ADV), a leading business solutions provider to consumer goods manufacturers and retailers, today announced it has completed the sale of digital advertising platform Jun Group to Verve Group SE, a Swedish digital advertising company formerly known as Media and Games Invest SE.

Gross proceeds from the sale, which was announced in June, are approximately $185 million.

Advantage received approximately $130 million in cash at close. As part of the purchase agreement, Verve Group is slated to pay two additional installments 12 months and 18 months post-close.

Advantage plans to use the majority of initial proceeds to pay down debt and reinvest in the business. The company remains committed to reducing its net leverage ratio over the long-term to less than 3.5 times.

“The sale of Jun Group represents another significant step that will enable Advantage to sharpen our focus on providing industry leading services to our retailer and CPG clients,” said Dave Peacock, CEO of Advantage Solutions. “This largely completes our business portfolio simplification, enabling us to invest strategically into growth while reducing our debt.”

About Advantage Solutions

Advantage Solutions is a leading provider of outsourced sales, experiential and marketing solutions uniquely positioned at the intersection of brands and retailers. Our data- and technology-driven services — which include headquarter sales, retail merchandising, in-store and online sampling, digital commerce, omnichannel marketing, retail media and others — help brands and retailers of all sizes get products into the hands of consumers, wherever they shop. As a trusted partner and problem solver, we help our clients sell more while spending less. Advantage has offices throughout North America and strategic investments in select markets throughout Africa, Asia, Australia, Latin America and Europe through which the company serves the global needs of multinational, regional and local manufacturers. For more information, please visit advantagesolutions.net.

Media:

Peter Frost
press@advantagesolutions.net

Investors:

Ruben Mella

investorrelations@advantagesolutions.net


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Cover
Jul. 31, 2024
Document Type 8-K
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Document Period End Date Jul. 31, 2024
Securities Act File Number 001-38990
Entity Registrant Name Advantage Solutions Inc.
Entity Central Index Key 0001776661
Entity Tax Identification Number 83-4629508
Entity Incorporation, State or Country Code DE
Entity Address, Address Line One 8001 Forsyth Boulevard, Suite 1025
Entity Address, City or Town Clayton
Entity Address, State or Province MO
Entity Address, Postal Zip Code 63105
City Area Code 314
Local Phone Number 655-9333
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Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Class A common stock, $0.0001 par value per share  
Title of 12(b) Security Class A common stock, $0.0001 par value per share
Trading Symbol ADV
Security Exchange Name NASDAQ
Warrants exercisable for one share of Class A common stock at an exercise price of $11.50 per share  
Title of 12(b) Security Warrants exercisable for one share of Class A common stock at an exercise price of $11.50 per share
Trading Symbol ADVWW
Security Exchange Name NASDAQ

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