FreightCar America Inc. 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.
Fourth Amendment to Amended and Restated Loan and Security Agreement
On October 30, 2024, FreightCar North America, LLC (“Borrower” and together with FreightCar America, Inc. (the “Company”) and certain other subsidiary borrowers and guarantors, collectively, the “Loan Parties”) entered into a Fourth Amendment to the Amended and Restated Loan and Security Agreement, which amends the Amended and Restated Loan and Security Agreement, dated July 30, 2021, as amended by the First Amendment to the Amended and Restated Loan and Security Agreement, dated February 23, 2022, by the Second Amendment to the Amended and Restated Loan and Security Agreement, dated November 22, 2022, and by the Third Amendment to the Amended and Restated Loan and Security Agreement, dated September 21, 2023 (such original agreement as amended prior to the Fourth Amendment to the Amended and Restated Loan and Security Agreement, the “Siena Loan Agreement”), by and among the Loan Parties and Siena Lending Group LLC (the “Revolving Loan Lender”).
The Fourth Amendment to the Amended and Restated Loan and Security Agreement, among other things, (i) extended the scheduled maturity date of the Siena Loan Agreement from October 31, 2024 to December 31, 2024; (ii) decreased the Maximum Revolving Facility Amount from $45.0 million to $20.0 million; and (iii) removed the standby letter of credit in the principal amount of $25.0 million for the account of the Company and for the benefit of the Revolving Loan Lender, obtained by CO Finance LVS VI LLC, as lender, and issued by Wells Fargo Bank, N.A. pursuant to the Amendment No. 3 to the Credit Agreement, dated as of July 30, 2021, which amends that certain Credit Agreement, dated October 13, 2020, by and among the Loan Parties, CO Finance LVS VI LLC, as lender, and U.S. Bank National Association, as disbursing agent and collateral agent, as amended by the Amendment No. 1 to the Credit Agreement, dated as of January 30, 2021, and by the Amendment No. 2 to the Credit Agreement, dated as of May 14, 2021. The foregoing description of the Fourth Amendment to the Amended and Restated Loan and Security Agreement does not purport to be complete and is qualified in its entirety by reference to a copy of the Fourth Amendment to the Amended and Restated Loan and Security Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and 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 disclosure set forth above in Item 1.01 is hereby incorporated by reference into this Item 2.03.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit 10.1 |
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Exhibit 104 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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FREIGHTCAR AMERICA, INC. |
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Date: November 1, 2024 |
By: |
/s/ Michael A. Riordan |
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Michael A. Riordan |
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Vice President, Finance, Chief Financial Officer and Treasurer |
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