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8-KThe WireStrategic

Material Agreement · New Debt / Obligation

Filed Oct 1, 2024 · 1y ago · Accession 0001558370-24-013116

Plain English

Material event — a significant development the company must disclose promptly.

Read the source below for the full document.

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):   September 27, 2024 ​ WEYCO GROUP, INC. (Exact name of registrant as specified in its charter) ​ Wisconsin   0-9068   39-0702200 (State or other jurisdiction of incorporation)   (Commission File Number)   (IRS Employer Identification No.) ​ ​ ​ ​ ​ 333 W. Estabrook Blvd. P. O. Box 1188 Milwaukee , WI   53201 (Address of principal executive offices)   (Zip Code) ​ Registrant’s telephone number, including area code: ( 414 ) 908-1600 ​ (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 240.13a-4(c)) ​ Securities registered pursuant to Section 12(b) of the Act: ​ Title of each class Trading Symbol Name of each exchange on which registered Common Stock - $1.00 par value per share WEYS The Nasdaq Stock Market ​ Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934. ​ 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. ​ The information set forth in Item 2.03 of this Current Report on Form 8-K is incorporated by reference in its entirety into this Item 1.01. ​ Item 2.03 Creation of a Direct Financial Obligation. ​ On September 27, 2024, Weyco Group, Inc. (the “Company”) entered into the Fourth Amendment to Credit Agreement (“Fourth Amendment”) amending its revolving credit facility dated as of November 4, 2020, with Associated Bank, National Association (as amended to date, the “Amended Credit Agreement”). The Fourth Amendment extends the maturity of the revolving credit facility to September 26, 2025.  There are no other amendments to the Amended Credit Agreement pursuant to the Fourth Amendment. Under the terms of the Amended Credit Agreement, there is a  maximum available borrowing limit of $40.0 million and amounts outstanding bear interest at the one-month term secured overnight financing rate (“SOFR”) plus 125 basis points. The Amended Credit Agreement is secured by a security interest in Company’s general business assets, and contains customary representations, warranties, and covenants (including a minimum tangible net worth financial covenant) for a facility of this type. The foregoing description of the Fourth Amendment does not purport to be complete and is qualified in its entirety by reference to the Fourth Amendment to Credit Agreement dated September 27, 2024, which is filed as Exhibit 10.1 to this Form 8-K. ​ Item 9.01 Financial Statements and Exhibits. ​ (d) Exhibits ​ 10.1 - Fourth Amendment to Credit Agreement, dated as of September 27, 2024 ​ 104 - Cover Page Interactive Data File (embedded within the Inline XBRL document) ​ ​ ​ ​ ​ 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. ​ ​ Date: October 1, 2024 WEYCO GROUP, INC.       /s/ Judy Anderson   Judy Anderson   Vice President, Chief Financial Officer and Secretary ​ ​ ​ ​
Filing details
Ticker
WEYS
CIK
106532
Form type
8-K
Filing date
Oct 1, 2024
Report date
Sep 27, 2024
Document
weys-20240927x8k.htm
Size
777 KB