Item 1.01 Entry into a Material Definitive Agreements.
On
At the Company's option, the interest rate applicable to the Revolver will be a
floating rate equal to: (i) the Bloomberg Short-Term Bank Yield Index rate
("BSBY") plus the applicable rate of 1.25% to 2.00% determined based on the
Company's rent adjusted leverage ratio, or (ii) the base rate plus the
applicable rate of 0.25% to 1.00% based on the Company's rent adjusted leverage
ratio. The proceeds of the Revolver will be used to refinance existing
indebtedness, finance working capital and capital expenditures, and for other
general corporate purposes. The Company is also permitted to voluntarily prepay
the Credit Agreement in whole or in part at any time, where borrowings bearing
interest based on the base rate may be prepaid at any time without penalty and
borrowings bearing interest based on BSBY may be prepaid, subject to payment of
usual and customary breakage and redeployment costs. The Revolver will mature on
Pursuant to the Security Agreement, dated as of
The Credit Agreement and the Security Agreement are filed as Exhibits 10.1 and 10.2 herewith and incorporated herein by reference. The foregoing descriptions of the Credit Agreement and Security Agreement do not purport to be complete and are qualified in their entirety by the full text of such agreements.
Item 1.02 Termination of a Material Definitive Agreements.
In connection with the entry into the Credit Agreement, the Company's Credit
Agreement, dated as of
2
--------------------------------------------------------------------------------
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits Exhibit No. Description 10.1 Credit Agreement, dated as ofMay 14, 2021 , amongDuluth Holdings Inc. , the Lenders party thereto,Bank of America, N.A ., as Administrative Agent, Swingline Lender and L/C Issuer,BofA Securities, Inc. , as a Joint Lead Arranger and Sole Bookrunner, andKeybanc Capital Markets Inc. , as a Joint Lead Arranger 10.2 Security Agreement, dated as ofMay 14, 2021 , by and betweenDuluth Holdings Inc. andBank of America, N.A . 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 3
--------------------------------------------------------------------------------
© Edgar Online, source