Item 1.02. Termination of a Material Definitive Agreement.
As previously disclosed, on December 16, 2019, Vitamin Shoppe Industries
LLC, a New York limited liability company ("Vitamin Shoppe Industries") and an
indirect subsidiary of Franchise Group, Inc. (the "Company"), and the direct and
indirect subsidiaries of Vitamin Shoppe Industries (together with Vitamin Shoppe
Industries, collectively, the "Borrowers") and Valor Acquisition, LLC
("Parent"), the direct parent of Vitamin Shoppe Industries, entered into a Loan
and Security Agreement (as amended, the "Term Loan Agreement") with the lenders
from time to time party thereto (the "Term Loan Lenders") and GACP Finance Co.,
LLC, as agent ("Term Loan Agent"). The Term Loan Agreement provided for a $70.0
million senior secured term loan (the "Term Loan") to be made by the Term Loan
Lenders to the Borrowers on December 16, 2019. The proceeds of the Term Loan
were used to consummate the Company's acquisition of Vitamin Shoppe, Inc. on
December 16, 2019 (the "Merger") and to pay fees and expenses in connection with
the Merger and the Term Loan. On August 13, 2020, the Company repaid in full all
amounts that were outstanding under the Term Loan, and on August 25, 2020,
terminated the Term Loan Agreement.
Item 8.01. Other Events.
On August 13, 2020, the Company issued a press release announcing the
repayment and retirement of the Term Loan. A copy of the press release is
attached hereto as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
99.1 Press Release dated August 13, 2020.
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document)
© Edgar Online, source Glimpses
FRANCHISE GROUP, INC. 
