Delaware corporation and wholly-owned subsidiary of Lockheed Martin created as transitory entity to hold IS&GS assets in 2016 transaction
Tracked:Delaware corporation and wholly-owned subsidiary of Lockheed Martin created as transitory entity to hold IS&GS assets in 2016 transaction · 3 documented connections
Primary SourceFCC filings show Lockheed Martin, Leidos and Abacus Innovations Corporation requested Commission consent for assignment of licenses from Lockheed Martin to Abacus
Primary SourceOn the closing date, Abacus became a wholly-owned subsidiary of Leidos through merger with Lion Merger Co., with each share of Abacus converting to one share of Leidos common stock
Primary SourceAbacus entered into a $1.84 billion term loan facility to make a $1.8 billion special cash payment to Lockheed Martin as part of the transaction
Primary SourceThe transaction was structured as a tax-efficient Reverse Morris Trust with a final exchange ratio of 8.2136 shares of Abacus common stock for each share of Lockheed Martin common stock
Primary SourceAbacus Innovations Corporation was created by Lockheed Martin as a wholly-owned subsidiary to facilitate the Information Systems & Global Solutions (IS&GS) business separation and merger with Leidos in August 2016
Primary SourceThe unaudited balance sheet of Abacus as of June 26, 2016 was included as Exhibit 99.4 to Leidos' Current Report on Form 8-K filed July 29, 2016
Primary SourceAbacus Innovations Corporation received $1.8 billion in credit facilities including Three-Year Term A Loan Facility ($400M), Five-Year Term A Loan Facility ($310M), and Term B Loan Facility ($1.13B)
Primary SourceAbacus Innovations Corporation was created as a Delaware corporation and wholly owned subsidiary of Lockheed Martin to facilitate the IS&GS separation and merger transaction
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