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SHLD > SEC Filings for SHLD > Form 8-K on 8-Apr-2014All Recent SEC Filings

Show all filings for SEARS HOLDINGS CORP



Completion of Acquisition or Disposition of Assets, Other Events, Financial S

Item 2.01 Completion of Acquisition or Disposition of Assets.

On April 4, 2014, Sears Holdings Corporation ("Holdings") completed the previously announced distribution of 100% of the outstanding shares of common stock of Lands' End, Inc. ("Lands' End") to Holdings' stockholders (the "Distribution"). As a result of the Distribution, Lands' End has separated from Holdings and its common stock began regular-way trading on the NASDAQ Capital Market under the symbol "LE" on April 7, 2014. Holdings distributed a total of approximately 32 million shares of Lands' End common stock to the Holdings' stockholders of record as of 5:30 p.m. Eastern time on March 24, 2014, the record date.

Item 8.01 Other Events.

Holdings received aggregate gross proceeds from the Distribution of $500 million, consisting of a cash dividend paid by Lands' End prior to the Distribution to a subsidiary of Holdings. The proceeds of the dividend were used to reduce borrowings under Holdings' domestic revolving credit facility.

Item 9.01 Financial Statements and Exhibits.

(b) The unaudited pro forma consolidated financial information of Holdings giving effect to the Distribution, and the related notes thereto, have been derived from its historical consolidated financial statements and are attached hereto as Exhibit 99.1.

(d) Exhibit Exhibit 99.1 - Unaudited pro forma consolidated financial information.

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