Good Times Restaurants 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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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

 

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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

Item 1.01.         Entry Into a Material Definitive Agreement.

 

 

On May 22, 2024, the “Company” and each of its wholly owned subsidiaries, as guarantors, entered into a First Amendment to Credit Agreement (the “Amendment”) with respect to the Company’s Amended and Restated Credit Agreement with Cadence Bank, N.A., as lender, entered into on April 20, 2023, the “Credit Agreement”).

 

The Amendment, among other things, amends the Credit Agreement to consent to the Company’s purchase of the assets of the Good Times Drive Thru restaurant from JGN Management, LLC. a franchisee (“Seller”) and to allow for certain seller financing associated with the acquisition.

 

The foregoing description of the Amendment is qualified in its entirety by reference to the full text of the Amendment, a copy of which is filed as Exhibit 10.1 to this current report on Form 8-K and is incorporated by reference herein.

 

In connection with the acquisition, the Company issued a press release on May 29, 2024, which is filed as Exhibit 99.1 to this Current Report on Form 8-K and is 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 contained in Item 1.01 regarding the Amendment is incorporated by reference herein.

 

Item 9.01.         Financial Statements and Exhibits.

 

(d)         Exhibits.

 

*Filed herewith

 

 

 

 

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.