🇺🇸 SECFULLER H B CODoubao · 实盘不做把握 8/10不做原因:无增量信息
北京时间·🕒 发布 10-09 21:21:32·⟳ 抓取 09:09:44 +1d11h·⚡ 决策 10-11 09:32:23 +22m39s·16.7 天前
H.B. Fuller 为收购 AMS 定价 8.5 亿美元 7.625% 优先无担保票据,属既有并购的程序性融资
这是一笔此前已宣布并购的债券融资定价,属可预期的程序性资本结构事件:不增发股权、无业绩/指引增量、不改变收购对价与条款,7.625% 票息对应的利息成本和杠杆上升在 6 月收购宣布时即可预见,没有可交易的新增方向;且当前为美东周六、市场闭市。
📄 原文FULLER H B CO↗ 原文
----- ful20261008_8k.htm ----- UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT…
不做 H.B. Fuller Company(FUL.US)
8.5 亿美元 7.625%/2034 票据定价是 6 月已宣布 AMS 收购的程序性融资,无新增经营、指引或对价信息,无股权预期差;消息已于 10 月 8-9 日可被交易,当前美东周末闭市,缺乏可执行 edge。
展开详情(成交明细 / 研究档案 / 原文全文 / 决策记录链)
研究档案
结论摘要
H.B. Fuller 定价 8.5 亿美元 7.625%/2034 票据只为既有的 AMS 收购融资并置换旧债,属程序性负债发行,对股东无新增利多或利空,不产生交易 edge。
🔎 新鲜度:最早出现 2026-10-08 · 扩散 low · price-in 风险 high ↗
关键理由
- 债券定价不改变股权份额、收购条款或盈利指引,且融资本身在 6 月收购宣布时已被预期。
主要风险
- 若 AMS 收购最终告吹将触发 4.5 亿美元票据按面值赎回,属未来或有事项而非本条新增信息。
反向证据
- 做多前查反向 · 来源 filing · 日期 2026-10-08 · 影响 none
公告仅为债券定价,无新增订单、指引上调或对价变化;高票息反指向杠杆与利息成本上升,未发现支持做多的新增利多。
检索:H.B. Fuller notes offering 是否含超预期利好或 AMS 收购条款上调 原文 ↗ - 做空前查反向 · 来源 filing · 日期 2026-10-08 · 影响 none
票据为无担保私募、利率虽高但用途明确(资助已宣布收购+置换更贵/到期债务),无偿付危机、违约或指引下修,属预期内资本运作,不满足强空催化。
检索:H.B. Fuller 8.5 亿美元高息债是否构成新增重大净利空/财务危机 原文 ↗
先例如何影响了这次决策
对本次决策的影响:强化 AVOID:不为程序性债务发行设置多空仓位或 tp/sl。
方向:无同机制对齐先例,但为既有收购的债券定价(程序性融资事件),普遍不构成独立股权催化。
涨幅量级:无可用于校准幅度的高相似首发先例;本事件不依赖幅度判断。
形态:并购过桥/永久债券定价通常在收购宣布后被预期,定价日多为低波动的程序落地。
工具执行结果 · 成功 1 · 降级 0 · 失败 0 · 取消 0
- search_processed_events 成功 stock_tools HTTP · 12 ms
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原文全文
展开原文 · 8,714 字
----- ful20261008_8k.htm -----
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):
October 8, 2026
H.B. Fuller Company
(Exact Name of Company as Specified in Charter)
Minnesota
001-09225
41-0268370
(State or other jurisdiction of
incorporation)
(Commission File Number)
(IRS Employer Identification No.)
1200 Willow Lake Boulevard
,
P.O. Box 64683
,
St. Paul
,
Minnesota
55164
-0683
(Address of principal executive offices)
(Zip Code)
Company’s telephone number, including area code: (
651
)
236-5900
(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:
☐
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
Common Stock, par value $1.00
FUL
NYSE
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. ☐
1
Item 8.01
Other Events.
On October 8, 2026, H.B. Fuller Company issued a press release, made pursuant to Rule 135c promulgated under the Securities Act of 1933, as amended (the “Securities Act”), announcing the pricing of a previously announced offering of $850 million aggregate principal amount of 7.625% senior unsecured notes due 2034 (the “Notes”) in a private offering that is exempt from the registration requirements of the Securities Act. The Notes are being offered only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act, or, outside the United States, to persons other than “U.S. persons” in compliance with Regulation S under the Securities Act. Neither the press release nor this Current Report on Form 8-K constitutes an offer to sell or the solicitation of an offer to buy the Notes. The Notes have not been and will not be registered under the Securities Act, or the securities laws of any other jurisdiction, and may not be offered or sold in the United States without registration or an applicable exemption from registration requirements. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated by reference herein.
2
Item 9.01.
Financial Statements and Exhibits.
(d)
Exhibits.
99.1
Press Release, dated October 8, 2026, issued by H.B. Fuller Company
104
Cover Page Interactive Data File (embedded within the Inline XBRL document)
3
SIGNATURE
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 hereunto duly authorized.
Date: October 9, 2026
H.B. FULLER COMPANY
By:
/s/ Gregory O. Ogunsanya
Gregory O. Ogunsanya
Senior Vice President, General Counsel
and Corporate Secretary
4
----- ex_1024176.htm -----
EX-99.1
2
ex_1024176.htm
EXHIBIT 99.1
ex_1024176.htm
Exhibit 99.1
H.B. Fuller Announces Pricing of $850 Million Debt Offering
ST. PAUL, Minn., Oct. 8, 2026 – H.B. Fuller Company (“H.B. Fuller”) (NYSE:FUL) announced today that it has priced an offering of $850 million aggregate principal amount of 7.625% new senior unsecured notes due 2034 (the “Notes”) at an issue price of 100% of the principal amount, in a private offering (the “Notes Offering”) that is exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”).
The issuance of the Notes is expected to close on or about October 21, 2026, subject to customary closing conditions. The Notes will pay interest on a semi-annual basis.
H.B. Fuller intends to use the net proceeds from the Notes Offering, together with other available cash and borrowings, to fund the purchase price for the acquisition (the “Acquisition”) of Advanced Medical Solutions Group plc (“AMS”), to repay other borrowings under its Second Amended and Restated Credit Agreement, dated as of February 15, 2023, as amended, and to fund the repayment or redemption of H.B. Fuller’s 4.000% notes due February 15, 2027, and for other general corporate purposes.
If the Acquisition is not consummated on or before June 25, 2027 (as such date may be extended but not beyond the first anniversary of the issue date of the Notes) (the “Outside Date”) or H.B. Fuller notifies the trustee stating that it has determined that the Co-operation Agreement that H.B. Fuller entered into on June 25, 2026 with AMS and H.B. Fuller Medical Adhesive Technologies Inc. has been terminated and the Acquisition will not occur on or before the Outside Date, then H.B. Fuller will be required to redeem $450 million of the Notes at a redemption price equal to 100% of the initial issue price thereof, plus accrued and unpaid interest from the issue date of the Notes to, but excluding, the redemption date.
The Notes are being offered only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act, or, outside the United States, to persons other than “U.S. persons” in compliance with Regulation S under the Securities Act. This press release does not constitute an offer to sell or the solicitation of an offer to buy the Notes. Any offers of the Notes will be made only by means of a private offering memorandum. The Notes have not been and will not be registered under the Securities Act, or the securities laws of any other jurisdiction, and may not be offered or sold in the United States without registration or an applicable exemption from registration requirements. This press release is being issued pursuant to, and in accordance with, Rule 135c under the Securities Act.
About
H.B. Fuller Company:
As the largest pureplay adhesives company in the world, H.B. Fuller’s innovative, functional coatings, adhesives and sealants enhance the quality, safety and performance of products people use every day. Founded in 1887, with 2025 revenue of $3.5 billion, our mission to Connect What Matters is brought to life by more than 7,100 global team members who collaborate with customers across more than 30 market segments in 150 countries to develop highly specified solutions that enable customers to bring world-changing innovations to their end markets.
Safe Harbor for Forward-Looking Statements:
Certain statements in this press release may be considered forward-looking statements within the meaning of the federal securities laws, including Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended, including those regarding the pending offering of the Notes, the anticipated use of proceeds and the anticipated closing date of the Notes Offering. These statements are subject to various risks and uncertainties, including but not limited to the following: whether the offering of Notes will be completed, whether H.B. Fuller will be able to satisfy the conditions required to close the sale of the Notes, the fact that H.B. Fuller’s management will have broad discretion in the use of the proceeds from any sale of the Notes, and other risks and uncertainties can be found in the “Risk Factors” section of H.B. Fuller’s Form 10-K filings, and any updates to the risk factors in its Form 10-Q and 8-K filings with the Securities and Exchange Commission, but there may be other risks and uncertainties that H.B. Fuller is unable to identify at this time or that H.B. Fuller does not currently expect to have a material impact on the business. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. H.B. Fuller does not undertake to update or revise any forward-looking statements, except as required by law.
Contacts:
Scott Jensen
Investor Relations Contact
investors@hbfuller.com
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):
October 8, 2026
H.B. Fuller Company
(Exact Name of Company as Specified in Charter)
Minnesota
001-09225
41-0268370
(State or other jurisdiction of
incorporation)
(Commission File Number)
(IRS Employer Identification No.)
1200 Willow Lake Boulevard
,
P.O. Box 64683
,
St. Paul
,
Minnesota
55164
-0683
(Address of principal executive offices)
(Zip Code)
Company’s telephone number, including area code: (
651
)
236-5900
(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:
☐
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
Common Stock, par value $1.00
FUL
NYSE
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. ☐
1
Item 8.01
Other Events.
On October 8, 2026, H.B. Fuller Company issued a press release, made pursuant to Rule 135c promulgated under the Securities Act of 1933, as amended (the “Securities Act”), announcing the pricing of a previously announced offering of $850 million aggregate principal amount of 7.625% senior unsecured notes due 2034 (the “Notes”) in a private offering that is exempt from the registration requirements of the Securities Act. The Notes are being offered only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act, or, outside the United States, to persons other than “U.S. persons” in compliance with Regulation S under the Securities Act. Neither the press release nor this Current Report on Form 8-K constitutes an offer to sell or the solicitation of an offer to buy the Notes. The Notes have not been and will not be registered under the Securities Act, or the securities laws of any other jurisdiction, and may not be offered or sold in the United States without registration or an applicable exemption from registration requirements. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated by reference herein.
2
Item 9.01.
Financial Statements and Exhibits.
(d)
Exhibits.
99.1
Press Release, dated October 8, 2026, issued by H.B. Fuller Company
104
Cover Page Interactive Data File (embedded within the Inline XBRL document)
3
SIGNATURE
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 hereunto duly authorized.
Date: October 9, 2026
H.B. FULLER COMPANY
By:
/s/ Gregory O. Ogunsanya
Gregory O. Ogunsanya
Senior Vice President, General Counsel
and Corporate Secretary
4
----- ex_1024176.htm -----
EX-99.1
2
ex_1024176.htm
EXHIBIT 99.1
ex_1024176.htm
Exhibit 99.1
H.B. Fuller Announces Pricing of $850 Million Debt Offering
ST. PAUL, Minn., Oct. 8, 2026 – H.B. Fuller Company (“H.B. Fuller”) (NYSE:FUL) announced today that it has priced an offering of $850 million aggregate principal amount of 7.625% new senior unsecured notes due 2034 (the “Notes”) at an issue price of 100% of the principal amount, in a private offering (the “Notes Offering”) that is exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”).
The issuance of the Notes is expected to close on or about October 21, 2026, subject to customary closing conditions. The Notes will pay interest on a semi-annual basis.
H.B. Fuller intends to use the net proceeds from the Notes Offering, together with other available cash and borrowings, to fund the purchase price for the acquisition (the “Acquisition”) of Advanced Medical Solutions Group plc (“AMS”), to repay other borrowings under its Second Amended and Restated Credit Agreement, dated as of February 15, 2023, as amended, and to fund the repayment or redemption of H.B. Fuller’s 4.000% notes due February 15, 2027, and for other general corporate purposes.
If the Acquisition is not consummated on or before June 25, 2027 (as such date may be extended but not beyond the first anniversary of the issue date of the Notes) (the “Outside Date”) or H.B. Fuller notifies the trustee stating that it has determined that the Co-operation Agreement that H.B. Fuller entered into on June 25, 2026 with AMS and H.B. Fuller Medical Adhesive Technologies Inc. has been terminated and the Acquisition will not occur on or before the Outside Date, then H.B. Fuller will be required to redeem $450 million of the Notes at a redemption price equal to 100% of the initial issue price thereof, plus accrued and unpaid interest from the issue date of the Notes to, but excluding, the redemption date.
The Notes are being offered only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act, or, outside the United States, to persons other than “U.S. persons” in compliance with Regulation S under the Securities Act. This press release does not constitute an offer to sell or the solicitation of an offer to buy the Notes. Any offers of the Notes will be made only by means of a private offering memorandum. The Notes have not been and will not be registered under the Securities Act, or the securities laws of any other jurisdiction, and may not be offered or sold in the United States without registration or an applicable exemption from registration requirements. This press release is being issued pursuant to, and in accordance with, Rule 135c under the Securities Act.
About
H.B. Fuller Company:
As the largest pureplay adhesives company in the world, H.B. Fuller’s innovative, functional coatings, adhesives and sealants enhance the quality, safety and performance of products people use every day. Founded in 1887, with 2025 revenue of $3.5 billion, our mission to Connect What Matters is brought to life by more than 7,100 global team members who collaborate with customers across more than 30 market segments in 150 countries to develop highly specified solutions that enable customers to bring world-changing innovations to their end markets.
Safe Harbor for Forward-Looking Statements:
Certain statements in this press release may be considered forward-looking statements within the meaning of the federal securities laws, including Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended, including those regarding the pending offering of the Notes, the anticipated use of proceeds and the anticipated closing date of the Notes Offering. These statements are subject to various risks and uncertainties, including but not limited to the following: whether the offering of Notes will be completed, whether H.B. Fuller will be able to satisfy the conditions required to close the sale of the Notes, the fact that H.B. Fuller’s management will have broad discretion in the use of the proceeds from any sale of the Notes, and other risks and uncertainties can be found in the “Risk Factors” section of H.B. Fuller’s Form 10-K filings, and any updates to the risk factors in its Form 10-Q and 8-K filings with the Securities and Exchange Commission, but there may be other risks and uncertainties that H.B. Fuller is unable to identify at this time or that H.B. Fuller does not currently expect to have a material impact on the business. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. H.B. Fuller does not undertake to update or revise any forward-looking statements, except as required by law.
Contacts:
Scott Jensen
Investor Relations Contact
investors@hbfuller.com
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