8-KThe WireStrategic
Material Agreement
Filed Jan 29, 2021 · 5y ago · Accession 0001193125-21-022597
Plain English
Material event — a significant development the company must disclose promptly.
Read the source below for the full document.
Filing text
View original ↗UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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): January 28, 2021
Kewaunee Scientific Corporation
(Exact name of registrant as specified in its charter)
Delaware
0-5286
38-0715562
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(I.R.S. Employer
Identification No.)
2700 West Front Street
Statesville, North Carolina
28677
(Address of principal executive offices)
(Zip Code)
Registrants telephone number, including area code: 704-873-7202
N/A
(Former name or former address, if changed since last report.)
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which
registered
Common Stock, $2.50 par value
KEQU
NASDAQ Global Market
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 (§230.405 of this
chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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 1.01
Entry into a Material Definitive Agreement
(a)
On January 28, 2021, Kewaunee Scientific Corporation (the Company) entered into a Tenth
Amendment to Credit and Security Agreement (the Amendment) with Wells Fargo Bank, National Association (the Bank). The Amendment made certain changes to the Credit and Security Agreement, dated as of May 6, 2013, as
amended (the Credit Agreement), between the Company and the Bank, and to the Revolving Line of Credit Note, dated May 6, 2013, made by the Company and payable to the order of the Bank, as amended (the Revolving Note).
The changes included (i) extending the maturity date under the Credit Agreement and Revolving Note from February 1, 2021 to May 3, 2021; (ii) establishing a minimum EBITDA covenant for the fiscal quarter ending April 30, 2021 of
$1,000,000, determined for the four-quarter period then ending; and (iii) revising the covenant regarding delivery of financial projections to the Bank to, among other things, include projections for the next succeeding fiscal year. The
foregoing description is qualified in its entirety by reference to the Amendment, a copy of which will be filed as an exhibit to the Companys Quarterly Report on Form 10-Q for the quarter ending
January 31, 2021.
2
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.
(Registrant)
Kewaunee Scientific Corporation
Date: January 29, 2021
/s/ Donald T. Gardner III
Donald T. Gardner III
Vice President, Finance and Chief Financial Officer
3
Filing details
- Ticker
- KEQU
- CIK
- 55529
- Form type
- 8-K
- Filing date
- Jan 29, 2021
- Report date
- Jan 28, 2021
- Document
- d240487d8k.htm
- Size
- 19 KB