8-KThe WireRoutine
Company Update
Filed May 29, 2018 · 8y ago · Accession 0001193125-18-176881
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): May 29, 2018
RPM INTERNATIONAL INC.
(Exact name of registrant as specified in its charter)
Delaware
1-14187
02-0642224
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
2628 Pearl Road, P.O. Box 777, Medina, Ohio
44258
(Address of principal executive offices)
(Zip Code)
Registrants telephone number, including area code: (330)
273-5090
(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 (see General Instruction A.2. below):
☐
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 8.01
Other Events.
Prepayment of Final Installment of Trust Contribution
As previously disclosed, effective as of December 23, 2014 (the Effective Date), Bondex International, Inc., its parent
company, Specialty Products Holdings Corp., and other related entities emerged from bankruptcy pursuant to a plan of reorganization (the Plan). Under the Plan, a trust was created for the benefit of current and future asbestos personal
injury claimants. The trust is funded by RPM International Inc. (RPM) through four contributions:
$450 million in cash, which RPM deposited into the trust on the Effective Date;
$102.5 million in cash, which RPM deposited into the trust on December 23, 2016 (the second anniversary of the Effective Date);
$119.1 million in cash, which RPM deposited into the trust on May 25, 2017, which represents a discount from the $120.0 million that was due on December 23, 2017 (the third anniversary of the
Effective Date) as a result of the earlier payment date; and
a final payment of $125.0 million in cash, RPM stock, or a combination thereof (at RPMs discretion), to be deposited into the trust on or before December 23, 2018 (the fourth anniversary of the Effective
Date).
As permitted by the Plan, RPM elected to make the final installment payment described above in advance of its
December 23, 2018 due date, and deposited $123.6 million in cash into the trust on May 29, 2018, which represents a discount from the $125.0 million due to the earlier payment date. RPM used cash on hand to fund the final
installment payment.
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.
RPM International Inc.
(Registrant)
Date: May 29, 2018
/s/ Edward W. Moore
Edward W. Moore
Senior Vice President, General Counsel and
Chief Compliance Officer
Filing details
- Company
- RPM INTERNATIONAL INC/DE/
- Ticker
- RPM
- CIK
- 110621
- Form type
- 8-K
- Filing date
- May 29, 2018
- Report date
- May 29, 2018
- Document
- d594002d8k.htm
- Size
- 19 KB