UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON,  DC 20549

_______________

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of report (Date of earliest event reported): April 20, 2018

Avnet, Inc.

(Exact Name of Registrant as Specified in Charter)

 

 

Registrant’s telephone number, including area code:  (480) 643-2000

N/A

(Former Name or Former Address, if Changed Since Last Report)

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 CFR 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))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

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 3.01   Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On April 26, 2018, Avnet, Inc. (the “Company”), acting pursuant to authorization from its Board of Directors, provided written notice to the New York Stock Exchange (the “NYSE”) that it intends to voluntarily delist its common stock (“Common Stock”), par value $1.00 per share, from the NYSE promptly following the close of trading on May 7, 2018 and intends to transfer the listing of its Common Stock to the NASDAQ Global Select Market (“NASDAQ”). The Company has been authorized for listing on NASDAQ and expects that its Common Stock will be listed and begin trading on NASDAQ at market open on May 8, 2018 under the same ticker symbol of AVT.

Until the opening of trading of the Common Stock on NASDAQ on May 8, 2018, the Company’s Common Stock will continue to trade on the NYSE under the ticker symbol AVT.

Item 7.01   Regulation FD Disclosure.

The Company issued the press release attached hereto as Exhibit 99.1 in connection with the transfer of the Common Stock to NASDAQ.

The information in Items 7.01 and 9.01 of this Current Report on Form 8-K is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (“Exchange Act”), or otherwise subject to the liabilities of that Section and shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended, or the Exchange Act, except as otherwise expressly stated in such filing.

 Item 9.01    Financial Statements and Exhibits.

(d) Exhibits.

 

 

 

 

 

SIGNATURE

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 hereunto duly authorized.

 

 

 

 

Exhibit 99.1

 

 

Avnet to Transfer Stock Exchange Listing to Nasdaq

Ticker symbol to remain “AVT”

 

PHOENIX –  April 26, 2018 – Avnet (NYSE: AVT), a leading global technology distributor, announced today that it will transfer its stock exchange listing from the New York Stock Exchange to The Nasdaq Global Select Market (Nasdaq). The company expects that its common stock will commence trading on Nasdaq on May 8, and will continue to be listed under the “AVT” ticker symbol.

 

“Since 1921, Avnet has always adapted to changing markets while staying focused on helping our customers grow their businesses more efficiently,” said Bill Amelio, CEO, Avnet. “Listing on Nasdaq positions Avnet alongside other top-tier technology companies that are leading their industries and guiding technology solutions to market. We are confident this will be a seamless transition for our company, our shareholders, and our 15,000+ employees across the globe.”

 

"Avnet represents the growth-oriented and industry-defining technology companies that call Nasdaq home," said Adena Friedman, President and CEO, Nasdaq. "Nasdaq is driven by the same entrepreneurial spirit valued by Avnet and we look forward to being a long-term partner supporting their continued success.”

 

Follow Avnet on Twitter: @Avnet

Connect with Avnet on LinkedIn: http://www.linkedin.com/company/avnet

Connect with Avnet on Facebook: http://www.facebook.com/AvnetInc

 

All brands and trade names are trademarks or registered trademarks, and are the properties of their respective owners. Avnet disclaims any proprietary interest in marks other than its own.

 

Forward-Looking Statements

 

This document contains certain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on management’s current expectations and are subject to uncertainty and changes in facts and circumstances. The forward-looking statements herein include statements addressing Avnet’s future trading and performance and include words such as “expects,” “will,” “positions,” “will be,” and other words and terms of similar meaning. Actual results may differ materially from the expectations contained in the forward-looking statements. Various factors, including those set forth in Avnet’s filings with the Securities and Exchange Commission, including Avnet’s reports on Form 10-K, Form 10-Q and Form 8-K and others, could cause actual results to differ materially from those described in the forward-looking statements. Except as required by law, Avnet is under no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

About Avnet

 

From idea to design and from prototype to production, Avnet supports customers at each stage of a product’s lifecycle. A comprehensive portfolio of design and supply chain services makes Avnet the go-to guide for innovators who set the pace for technological change. For nearly a century, Avnet has helped its customers and suppliers around the world realize the transformative possibilities of technology. Learn more about Avnet at www.avnet.com.

 

Investor Relations Contact

Vincent Keenan

Investor Relations

(480) 643-7053

investorrelations@avnet.com 

 

Media Relations Contact

Maureen O'Leary

Corporate Communications

(480) 643-7499

corporate.communications@avnet.com