MasterCraft Boat Holdings Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation, Financial Statements and Exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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CURRENT REPORT
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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 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
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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 September 27, 2024, MasterCraft Boat Holdings, Inc. (the “Company”) entered into the Fourth Amendment to the Credit Agreement (the “Fourth Amendment”) with JPMorgan Chase Bank, N.A., as the administrative agent (the “Administrative Agent”), and the other lenders party thereto. The Fourth Amendment amends certain provisions of the Company’s Credit Agreement dated June 28, 2021 as amended by (i) the First Amendment to the Credit Agreement dated September 30, 2021, (ii) the Second Amendment to the Credit Agreement dated August 31, 2022, and (iii) the Third Amendment to the Credit Agreement dated October 4, 2023.
The Fourth Amendment, among other things, (i) provides consents and waivers, by the Administrative Agent, to covenant restrictions as related to the sale and transfer of assets of Aviara Boats, LLC., and (ii) provides waivers to the covenant ratios for certain future periods. The Credit Agreement provides the Company with a $100 million revolving credit facility.
The foregoing description of the of the Fourth Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Fourth Amendment, which is filed as Exhibit 10.1 hereto and incorporated 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 in Item 1.01 of this Current Report on Form 8-K is incorporated by reference in this Item 2.03.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
The following exhibits are being furnished as part of this report:
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104 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
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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MASTERCRAFT BOAT HOLDINGS, INC. |
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Date: |
October 3, 2024 |
By: |
/s/ TIMOTHY M. OXLEY |
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Timothy M. Oxley |