Filing Overview
This Form 8-K was filed by Collier Creek Holdings, not Utz Brands, Inc. The report was dated November 15, 2018, with the underlying event occurring on November 12, 2018. It reports a board appointment under Item 5.02.
Business Context and Reporting Period
Collier Creek Holdings was a Cayman Islands special purpose acquisition company. The filing does not provide operating results or cover a financial reporting period.
Corporate Governance and Other Key Terms
- Craig D. Steeneck was elected as a Class II director, with a term expiring at the company’s second annual shareholder meeting.
- Mr. Steeneck was determined to be an independent director under applicable New York Stock Exchange rules.
- He was appointed chairman of the audit committee and a member of the compensation committee.
- The audit committee consists of Mr. Steeneck, Matthew M. Mannelly, and William D. Toler.
- The compensation committee consists of Mr. Steeneck, Mr. Toler, and Antonio F. Fernandez, with Mr. Toler as chairman.
- Mr. Steeneck entered into an indemnity agreement substantially consistent with agreements entered into by the company’s other directors.
- Under a September 7, 2018 forward purchase agreement, Mr. Steeneck agreed to purchase 150,000 Class A ordinary shares and 50,000 redeemable warrants for $1.5 million in a private placement expected to close concurrently with the company’s initial business combination.
- The sponsor transferred 52,500 Class B ordinary shares to Mr. Steeneck at the original purchase price of $0.002 per share.
Financial Metrics and Outlook
The filing does not provide revenue, profit, cash flow, margins, debt, liquidity, guidance, or other operating or financial metrics. It also does not provide management commentary, contingencies, or unusual financial items.
Material Changes Versus Prior Period
The material change disclosed is the addition of Mr. Steeneck to the board and his appointments to the audit and compensation committees. No comparable-period financial information is presented.
Investor Verification Items
- Verify the registrant’s identity: the filing names Collier Creek Holdings, while the request metadata identifies Utz Brands, Inc.
- Review the terms and closing conditions of the forward purchase agreement and the related private placement.
- Confirm Mr. Steeneck’s committee roles, independence status, and indemnification arrangements.
- Monitor the company’s subsequent filings for the initial business combination and any related share or warrant issuance.