UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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Current Report
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 14, 2023
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Stericycle, Inc.
(Exact name of registrant as specified in its charter)
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| Delaware | 1-37556 | 36-3640402 | ||||||
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification Number) | ||||||
2355 Waukegan Road
Bannockburn, Illinois 60015
(Address of principal executive offices including zip code)
(847) 367-5910
(Registrant’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
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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:
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CR 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 | ||||||
| Common Stock, par value $0.01 per share | SRCL | Nasdaq Global Select Market | ||||||
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 7.01 Regulation FD Disclosure.
On June 14, 2023, Stericycle, Inc. (the “Company”) announced that it has sold its Secure Information Destruction Services operations in Australia and Singapore (the “Australian and Singapore Operations”), and its Regulated Waste and Compliance Services operations in the Republic of Korea (the “Korean Operations” and, with the Australian and Singapore Operations, the “Divested Operations”). The Divested Operations were part of the Company’s International reporting segment.
The Australian and Singapore Operations were sold on May 24, 2023, for cash proceeds of approximately $3.0 million. In the year ended December 31, 2022, the Australian and Singapore Operations contributed approximately 0.3% of consolidated revenues to the Company.
The Korean Operations were sold on June 1, 2023, for cash proceeds of approximately $109.0 million. In the year ended December 31, 2022, the Korean Operations contributed approximately 1% of consolidated revenues to the Company.
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.
| Dated: June 14, 2023 | Stericycle, Inc. | |||||||
| By: | /s/ Janet H. Zelenka | |||||||
| Janet H. Zelenka | ||||||||
| Executive Vice President, Chief Financial Officer and Chief Information Officer | ||||||||