Kelly Services, 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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CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

 

 

Date of Report (Date of earliest event reported): December 30, 2021

 

 

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(Exact name of Registrant as specified in its charter)

 

 

999 West Big Beaver Road, Troy, Michigan 48084

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(Address of principal executive offices)

(Zip Code)

 

(248) 362-4444

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(Registrant's telephone number, including area code)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

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

 

Emerging growth company  ☐

 

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 December 30, 2021, Kelly Services, Inc. (the “Company”) and Kelly Receivables Funding, LLC, a wholly owned bankruptcy remote special purpose subsidiary of the Company, and the administrator and purchaser agent amended the Receivables Purchase Agreement related to the $150 million securitization facility.  The amendment (i) extended the maturity to December 5, 2024, and (ii) changed certain of the terms and conditions.

 

 

The information set forth in Item 1.01 above is incorporated by reference in this Item 2.03.

 

 

(d) Exhibits

 

10.15          First Amended and Restated Receivables Purchase Agreement Amendment No. 2, dated December 30, 2021

 

104             Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)

 

 

 

 

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.

 

 

 

 

 

 

Exhibit No.                  Description

 

 

                               10.15            First Amended and Restated Receivables Purchase Agreement Amendment No. 2, dated December 30, 2021