v3.23.2
Subsequent Events​
6 Months Ended
Jun. 30, 2023
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
Management evaluated all activity of Arconic and concluded that no subsequent events have occurred that would require recognition in the Consolidated Financial Statements or disclosure in the Notes to the Consolidated Financial Statements, except as described below.
The Merger Agreement was adopted by the Company’s stockholders at a special meeting of the Company’s stockholders on July 25, 2023 (see Note A).
On July 31, 2023, the Company provided notice to the trustee and registrar under the applicable indenture relating to the Company’s 6.0% Senior Secured First-Lien Notes due 2025 (the “2025 Notes”) and 6.125% Senior Secured Second-Lien Notes due 2028 (the “2028 Notes”) that on August 10, 2023 (the “Redemption Date”), subject to and conditioned upon the closing of the Transaction (the “Condition”), the Company intends to redeem the aggregate principal amount of $700 for the 2025 Notes and $900 for the 2028 Notes at a redemption price equal to 101.500% and 103.063%, respectively, of the principal amount thereof, plus accrued and unpaid interest thereon, if any, to, but excluding, the Redemption Date, in accordance with the terms of the respective indenture. At the Company’s discretion, the Redemption Date may be delayed until such time as the Condition is satisfied (or waived by the Company in its sole discretion). The Company may rescind the notices of redemption in its sole discretion if the Condition is not satisfied.