UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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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 2.06. Material Impairments
As previously reported in a Current Report on Form 8-K filed on December 18, 2023, ZimVie Inc. (“ZimVie”) entered into a definitive agreement on December 15, 2023 to sell its Spine business to an affiliate of H.I.G. Capital. ZimVie anticipates a non-cash impairment charge of $250 to $310 million to be taken in the fourth quarter of 2023 related to this event, as the assets associated with this business will be classified as held for sale at year-end. ZimVie does not expect material cash expenditures in connection with the impairment charge.
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.
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ZimVie Inc. |
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Date: |
December 21, 2023 |
By: |
/s/ Heather Kidwell |
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Name: Heather Kidwell |