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.
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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): 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
- Company
- WEYCO GROUP INC
- 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