March 8, 2023
Kimball International, Inc. Investigation
We are investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Kimball International, Inc. (“Kimball” or the “Company”) (NASDAQ: KBAL), in connection with the proposed acquisition of the Company by HNI Corporation (NYSE: HNI) (“HNI”). Under the terms of the merger agreement, the Company’s shareholders will receive $9.00 in cash and 0.1301 shares of HNI common stock for each share of Kimball common stock owned, representing implied per-share consideration of $12.90 based upon HNI’s March 7, 2023 closing price of $29.94.
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