Item 1.01. Entry into a Material Definitive Agreement.
Amended Loan and Security Agreement
On
The Amended Loan and Security Agreement provides for the following:
1. A revolving line of credit in the amount of
2. A swingline facility in the maximum amount of
Subject to the satisfaction of certain terms and conditions described in the
Amended Loan and Security Agreement, we have an option to increase the Revolving
Line by an aggregate amount not exceeding
The Amended Loan and Security Agreement contains customary limitations, including limitations on indebtedness, liens, fundamental changes to business or organizational structure, investments, loans, advances, guarantees, and acquisitions, asset sales, dividends, stock repurchases, stock redemptions, and the redemption or prepayment of other debt, and transactions with affiliates. We are also subject to financial covenants, including a minimum consolidated fixed charge coverage ratio.
The Amended Loan and Security Agreement also contains customary events of default, including nonpayment of principal, interest, fees, or other amounts when due, violation of covenants, breaches of representations or warranties, cross defaults, change of control, insolvency, bankruptcy events, and material judgments. Some of these events of default allow for grace periods or are qualified by materiality concepts. Upon the occurrence of an event of default, the outstanding obligations under the Amended Loan and Security Agreement may be accelerated and become due and payable immediately.
The description of the Amended Loan and Security Agreement does not purport to be complete, and such description is qualified in its entirety by reference to the complete terms of the Amended Loan and Security Agreement, which is attached as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated by reference herein.
Item 2.03.Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The description of the Amended Loan and Security Agreement 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 Number Description 10.1 Amendment No. 1 to Loan and Security Agreement, dated as ofMarch 25, 2022 , by and amongAOB Products Company ,Crimson Trace Corporation ,American Outdoor Brands, Inc. ,Battenfeld Acquisition Company Inc. ,BTI Tools, LLC ,Ultimate Survival Technologies, LLC ,AOBC Asia Consulting, LLC ,TD Bank, N.A ., and the other banks, financial institutions, and other entities from time to time parties thereto 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
--------------------------------------------------------------------------------
© Edgar Online, source