Jacobs Announces That It Received $70M And Right To Receive 7,299,065 Shares Of Common Stock In Amentum Holdings

DALLAS, April 10, 2025 /PRNewswire/ -- Jacobs (NYSE:J) announced that it received $70 million and the right to receive 7,299,065 shares of common stock in Amentum Holdings, Inc. (NYSE:AMTM) in connection with the combination of Jacobs' Critical Mission Solutions and Cyber & Intelligence businesses with Amentum Parent Holdings LLC, which resulted in Amentum becoming a publicly traded company last year (the "CMS Separation Transaction"). These amounts represent the final determination of post-closing adjustments to the working-capital and merger consideration provided for in the CMS Separation Transaction agreements.

Jacobs utilized the $70 million to repay a portion of its outstanding indebtedness. Additionally, subject to receipt of approval by Jacobs' Board of Directors, Jacobs intends to distribute the shares of Amentum common stock, which represent 3% of the outstanding shares of Amentum as of the date the CMS Separation Transaction closed, on a pro rata basis to Jacobs' shareholders as of a record date that will be determined by the Board of Directors.