STOCK TITAN

Enerpac amends SFE Group merger stock award terms

The amendment provides for restricted stock unit awards instead of cash payment of SFE Group key personnel’s transaction bonuses upon merger completion.

(Moderate)

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Form Type
8-K

Rhea-AI Filing Summary

Enerpac Tool Group Corp. (EPAC) amended its merger agreement for the acquisition of Specialized Fabrication Equipment Group LLC. Under the amendment, restricted stock unit awards for SFE Group key personnel, in lieu of cash payment of transaction bonuses owed to them, are to be made under Enerpac’s newly adopted Inducement Award Plan upon completion of the merger, rather than under its 2017 Omnibus Incentive Plan.

The amendment adds a related covenant and conditions precedent to each party’s obligation to complete the merger, including execution and delivery by each key person of an award agreement under the Inducement Plan. It also clarifies the closing-date adjustment to merger consideration for SFE Group cash, debt and transaction expenses, including cash paid to SFE Group or its subsidiaries, and debt or expenses satisfied or paid by Enerpac on or before completion.

Item 1.01 Entry into a Material Definitive Agreement Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Restricted Stock Unit awards financial
"issuance by the Company of Restricted Stock Unit awards"
Restricted stock unit awards are company promises to deliver a specific number of shares to employees or service providers in the future once conditions—such as staying with the company for a set time or meeting performance targets—are met. They matter to investors because when the promises convert into actual shares they increase the total share count and can reduce earnings per share, while also aligning recipients’ interests with stock performance much like deferred pay that turns into ownership if goals are met.
Inducement Award Plan financial
"under the Enerpac Tool Group Corp. Inducement Award Plan"
An inducement award plan is a package of pay, often including stock options or restricted shares, granted to a new employee or executive to attract them to join a company — think of it like a signing bonus paid partly in company stock. Investors care because these awards increase compensation expense and can dilute existing shareholders’ ownership, affecting earnings per share and incentives that shape company strategy.
conditions precedent technical
"conditions precedent to each party’s obligation to complete the Merger"
Conditions precedent are the specific tasks, approvals, or facts that must be satisfied before a contract or transaction becomes effective or a payment is made. Think of them as a checklist you must complete before turning the key on a new machine; if items are missing the deal can be delayed, renegotiated, or canceled. Investors watch these conditions because they determine timing, completion risk, and whether expected benefits will actually occur.
merger consideration financial
"closing date adjustment of the amount of the merger consideration"
Merger consideration is the total payment a company or buyer offers to shareholders of a target company in exchange for combining the two businesses, and can include cash, shares in the surviving company, debt assumption, or a mix of these. Investors care because the form and amount affect the deal’s value, tax consequences, immediate cash received versus future ownership, and the risk and upside of holding new shares — similar to choosing between cash now or stock that could grow later.
closing date adjustment financial
"closing date adjustment of the amount of the merger consideration"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What changed in EPAC’s SFE Group merger agreement?

Enerpac Tool Group amended the agreement so restricted stock unit awards for SFE Group key personnel, in lieu of cash payment of transaction bonuses owed upon merger completion, will be made under the newly adopted Inducement Award Plan rather than the 2017 Omnibus Incentive Plan.

What must SFE Group key personnel do for EPAC’s merger to proceed?

The amendment adds conditions precedent to each party’s obligation to complete the merger, including that each key person execute and deliver an award agreement under the Inducement Award Plan.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR Accepted by SEC EDGAR Learn about SEC filing dates

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 27, 2026

ENERPAC TOOL GROUP CORP.
(Exact name of Registrant, as specified in its charter)

Wisconsin
1-11288
39-0168610
(State or other jurisdiction of incorporation)
(Commission File Number)
(I.R.S. Employer Identification Number)

648 N. PLANKINTON AVE., 4TH FLOOR
MILWAUKEE, WISCONSIN 53203
Mailing address: P.O. Box 3241, Milwaukee, Wisconsin 53201
(Address of principal executive offices) (Zip code)

Registrant’s telephone number, including area code: (262) 293-1500

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, par value $0.20 per share

EPAC

New York Stock Exchange

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 1.01
Entry Into a Material Definitive Agreement

As previously reported, the Company and its wholly owned subsidiary, Rodeo Merger Sub, LLC, a Delaware limited liability company (“Merger Sub”), entered into an Agreement and Plan of Merger, dated as of July 7, 2026 (the “Merger Agreement”), with Specialized Fabrication Equipment Group LLC, a Delaware limited liability company (“SFE Group”), and SFEG Holdings, Inc., a Delaware corporation, solely in its capacity as representative of the equityholders of SFE Group (the “Representative”), providing for the acquisition by the Company of SFE Group pursuant to a merger of Merger Sub with and into SFE Group, with SFE Group being the surviving limited liability company of the merger (the “Merger”). On October 27, 2026, the Company, Merger Sub, SFE Group and the Representative entered into a First Amendment to Agreement and Plan of Merger dated as of October 27, 2026 (the “Amendment”).

The Amendment amends the Merger Agreement to provide that the issuance by the Company of Restricted Stock Unit awards to key personnel of SFE Group, in lieu of cash payment of transaction bonuses owed by SFE Group to such personnel upon completion of the Merger, shall be made under the Enerpac Tool Group Corp. Inducement Award Plan, a newly adopted equity award plan, rather than under the Enerpac Tool Group Corp. 2017 Omnibus Incentive Plan.  The Amendment further amends the Merger Agreement to add a related covenant and conditions precedent to each party’s obligation to complete the Merger, and that each of such key personnel of SFE Group execute and deliver to the Company an award agreement under the Inducement Plan.  In addition, the Amendment clarifies provisions of the Merger Agreement addressing the closing date adjustment of the amount of the merger consideration for the level of cash, debt and transaction expenses of SFE Group to address cash paid to SFE Group or its subsidiaries by the Company, as well as debt or transaction expenses of SFE Group or its subsidiaries satisfied or paid by the Company, on or prior to the completion of the Merger.  The Amendment also effects certain minor amendments and technical corrections to the Merger Agreement.

The foregoing description of the Amendment does not purport to be complete, and is qualified in its entirety by reference to the full text of the Amendment, which is filed herewith as Exhibit 2.2 and is incorporated herein by reference.

Item 9.01
Exhibits

(d)          Exhibits

Exhibit No.

Description


 
2.1

Agreement and Plan of Merger dated as of July 7, 2026 by and among Enerpac Tool Group Corp., Rodeo Merger Sub, LLC, Specialized Fabrication Equipment Group LLC, and SFEG Holdings, Inc., solely in its capacity as Equityholders Representative (incorporated by reference to Exhibit 2.1 of the Current Report on Form 8-K filed on July 8, 2026)
2.2

First Amendment to Agreement and Plan of Merger dated as of October 27, 2026 by and among Enerpac Tool Group Corp., Rodeo Merger Sub, LLC, Specialized Fabrication Equipment Group LLC, and SFEG Holdings, Inc., solely in its capacity as Equityholders Representative
104

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

2

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 hereunto duly authorized.

Date:        October 27, 2026
ENERPAC TOOL GROUP CORP.



By: /s/ Darren M. Kozik


Darren M. Kozik


Executive Vice President and Chief Financial Officer


3

Filing Exhibits & Attachments

4 documents

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