Material Agreement

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 27, 2022     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) Registrant’s 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) Effective as of May 27, 2022, Kewaunee Scientific Corporation (the “Company”) entered into a Fifteenth 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) reducing the aggregate principal amount available under the line of credit from $4,715,823 to $3,000,000 (the “Line of Credit”); (ii) extending the maturity date under the Credit Agreement and Revolving Note from May 31, 2022 to June 30, 2022; and (iii) permanently reducing the maximum aggregate principal amount committed under the Line of Credit by: (A) for all amounts up to $5,000,000 received by the Company in connection with the previously disclosed sale-leaseback arrangement (“Sale-Leaseback Arrangement”) after May 27, 2022, an amount equal to $0.25 for every $1.00 received by the Company and (B) for all amounts in excess of $5,000,000 received by the Company in connection with the Sale-Leaseback Arrangement after May 27, 2022, an amount equal to $0.50 for every $1.00 received by the Company. 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 Company’s Quarterly Report on Form 10-Q for the quarter ending July 31, 2022.   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: June 2, 2022       /s/ Donald T. Gardner III       Donald T. Gardner III       Vice President, Finance and Chief Financial Officer