09:59 AM EDT, 10/10/2025 (MT Newswires) -- HNI (HNI) reported Friday the early results of an offer to exchange any and all outstanding 5.125% notes due 2029 issued by Steelcase ( SCS ) for up to $450 million of new notes to be issued by HNI in connection with its proposed acquisition of Steelcase ( SCS ).

HNI said it received consents from eligible holders representing 77.83% of the existing Steelcase ( SCS ) notes as of the early tender date on Thursday.

The company said it received consents enough to remove certain covenants and restrictive provisions from the existing Steelcase ( SCS ) indenture and the existing Steelcase ( SCS ) notes.

The exchange offer will expire on Oct. 27, HNI said.

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