Item 2.02 - Results of Operations and Financial Condition In accordance with General Instruction B.2 to Form 8-K, the following information shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing. The information regarding the results of operations and financial condition of the Company for the third quarter endedSeptember 30, 2020 , responsive to this Item 2.02, and contained in Exhibit 99.1 filed herewith, is incorporated by reference herein. Item 8.01 - Other Events OnNovember 16, 2020 ,A.M. Castle & Co. (the "Company") announced that it reached an agreement in principle (the "Term Sheet") with its first lien lender,PNC Bank, National Association ("PNC"), and certain of its stockholders to provide for a new$8.0 million term loan from such stockholders (the "Revolving B Term Loan"), which will be subordinated to the$125.0 million senior secured, revolving credit facility (the "Revolving A Credit Facility") under that certain Revolving Credit and Security Agreement, dated as ofAugust 31, 2017 , by and among the Company, the other Borrowers party thereto, the Guarantors party thereto, the Lenders party thereto and PNC, as Administrative Agent and Collateral Agent (as amended, restated, supplemented, or otherwise modified from time to time, the "Credit Agreement"). Interest on the Revolving B Term Loan will accrue at a rate of 15.0% per annum, which will be paid-in-kind unless the Company qualifies and elects to pay such interest in cash. Principal and accrued paid-in-kind interest will not be payable or callable until the earlier of (i) the payment in full of the obligations under the Revolving A Credit Facility, and (ii) 30 days after the maturity of the Revolving A Credit Facility. As part of this agreement in principle, the Company and PNC also agreed to extend the maturity of the Credit Agreement toFebruary 28, 2023 , and to amend the Credit Agreement to (i) provide the Company an additional$3.8 million in liquidity under the Revolving A Credit Facility and (ii) increase the interest applicable to the Revolving Credit A Facility to LIBOR-base rate plus a margin of 4.0%. The agreement in principle is subject to customary conditions to closing, including execution of acceptable documentation and final approval, which the Company expects to occur during the fourth quarter of 2020. Item 9.01 - Financial Statements and Exhibits (d) The following exhibits are filed herewith: Exhibit Number Description 99.1 Press Release, November 16 , 2020 2
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Cautionary Note Regarding Forward Looking Statements
The information contained in the press release attached to this Form 8-K and the
contents of this Form 8-K should be read in conjunction with our filings made
with the
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