8-KThe WireStrategic
Material Agreement · New Debt / Obligation
Filed Aug 17, 2016 · 10y ago · Accession 0001193125-16-684237
Plain English
Material event — a significant development the company must disclose promptly.
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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): August 17, 2016 (August 11, 2016)
Ennis, Inc.
(Exact Name
of Registrant as Specified in Its Charter)
Texas
1-5807
75-0256410
(State or Other Jurisdiction
of Incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
2441 Presidential Pkwy. Midlothian, Texas
76065
(Address of Principal Executive Offices)
(Zip Code)
Registrants Telephone Number, Including Area Code: (972) 775-9801
N/A
(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 240.13e-4(c)
Item 1.01
Entry into a Material Definitive Agreement
Amendments to Credit Agreement
Ennis, Inc. (the Company) entered into a Sixth Amendment to Second Amended and Restated Credit Agreement, dated August 11, 2016, among the
Company, each of the co-borrowers party thereto, the lenders party thereto and Bank of America, National Association, as the administrative agent (the Sixth Amendment), which amended the Companys existing revolving credit facility
(as amended, the Credit Facility) in connection with the expiration of the Credit Facility according to its terms.
The Sixth Amendment
extended the maturity date of the Credit Facility to August 11, 2020, and provides the Company and its subsidiaries with up to $100 million in revolving credit, as well as a $20 million sublimit for the issuance of letters of credit and a $15
million sublimit for swingline loans. The Company or its subsidiaries may also request an increase in aggregate commitments under the Credit Facility up to three times in an aggregate amount not to exceed $50 million. The Credit Facility is secured
by substantially all of the Companys domestic assets (other than real property) and the capital stock of its subsidiaries.
Under the Credit
Facility: (i) the Companys net leverage ratio may not exceed 3.00:1.00, (ii) the Companys fixed charge coverage ratio may not be less than 1.25:1.00, and (iii) the Company may make dividends or distributions to
shareholders so long as no event of default has occurred and is continuing and the Companys net leverage ratio both before and after giving effect to any such dividend or distribution is equal to or less than 2.50:1.00.
The foregoing summary of the Sixth Amendment, which includes other customary terms, conditions and restrictions, does not purport to be complete and is
subject to, and qualified in its entirety by, the full text of such amendment, a copy of which is filed as Exhibit 10.1.
Item 2.03
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement or a Registrant.
The information set forth under Item 1.01 of this Current Report on Form 8-K is incorporated by reference in this Item 2.03.
Item 9.01
Financial Statements and Exhibits.
(d) Exhibits
Exhibit No.
Description
10.1
Sixth Amendment to Second Amended and Restated Credit Agreement, effective as of August 11, 2016, by and among Ennis, Inc., each of the co-borrowers party thereto, each of the lenders party thereto, and Bank of America, N.A., in its
capacity as administrative agent for the lenders.
SIGNATURES
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.
Ennis, Inc.
By:
/s/ Richard L. Travis Jr.
Richard L. Travis, Jr.
Chief Financial Officer
Date: August 17, 2016
EXHIBIT INDEX
Exhibit No.
Description
10.1
Sixth Amendment to Second Amended and Restated Credit Agreement, effective as of August 11, 2016, by and among Ennis, Inc., each of the co-borrowers party thereto, each of the lenders party thereto, and Bank of America, N.A., in its
capacity as administrative agent for the lenders.
Filing details
- Company
- ENNIS, INC.
- Ticker
- EBF
- CIK
- 33002
- Form type
- 8-K
- Filing date
- Aug 17, 2016
- Report date
- Aug 11, 2016
- Document
- d243129d8k.htm
- Size
- 718 KB