Bowlero Corp. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation, Financial Statements and Exhibits
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Item 1.01 Entry into a Material Definitive Agreement.
On August 23, 2024, Bowlero Corp. (the “Company”) entered into an Eleventh Amendment (the “Eleventh Amendment”) to the First Lien Credit Agreement, dated as of July 3, 2017, by and among the Company, Kingpin Intermediate Holdings LLC, a direct subsidiary of the Company, as borrower, the other guarantors party thereto, JPMorgan Chase Bank, N.A., as administrative agent, and the lenders from time to time party thereto (as amended, restated, amended and restated, supplemented or otherwise modified and in effect prior to the date hereof, the “Existing Credit Agreement”; the Existing Credit Agreement, as amended by the Eleventh Amendment, the “Amended Credit Agreement”). Capitalized terms not defined herein are as defined in the Amended Credit Agreement.
The Eleventh Amendment provides for a $50 million increase (the “Incremental Revolving Commitments”) of the total revolving commitments under the Existing Credit Agreement to an aggregate amount of $335 million. The Incremental Revolving Commitments have the same terms as the existing revolving commitments under the Existing Credit Agreement, including interest rate and maturity date. The Incremental Revolving Commitment is undrawn as of the Eleventh Amendment Effective Date.
The description above is a summary and is qualified in its entirety by the full text of the Eleventh Amendment and the Amended Credit Agreement, which are filed as Exhibit 10.1 to this Current Report on Form 8-K and are incorporated herein by reference.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information set forth above under Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.
Item 9.01 Financial Statement and Exhibits.
(d) Exhibits.
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Exhibit No. |
Description |
| 10.1 | Eleventh Amendment, dated August 23, 2024, to the First Lien Credit Agreement, dated as of July 3, 2017, by and among Bowlero Corp., Kingpin Intermediate Holdings LLC, as borrower, the other guarantors party thereto, JPMorgan Chase Bank, N.A., as administrative agent, and the lenders from time to time party thereto. |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| BOWLERO CORP. | ||
| Date: August 23, 2024 | By: | /s/ Robert M. Lavan |
| Name: | Robert M. Lavan | |
| Title: | Chief Financial Officer | |