MEDIFAST INC filed SEC Form 8-K: Termination of a Material Definitive Agreement, Results of Operations and Financial Condition, Financial Statements and Exhibits
$MED
Packaged Foods
Consumer Staples
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_____________________________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 30, 2024
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Item 1.02. Termination of a Material Definitive Agreement.
On October 30, 2024, Medifast, Inc. (the "Company") terminated its Credit Agreement, dated as of April 13, 2021, among the Company, certain of its subsidiaries party thereto, the lenders party thereto, and with Citibank, N.A., as administrative agent, as amended on May 31, 2022 (the “Credit Agreement”). The Credit Agreement provided, among other things, for a secured revolving credit facility in the principal amount of up to $225 million with a $20 million letter of credit sublimit.
The Company terminated the Credit Agreement in accordance with its terms. As of the date of termination, the Company did not have any borrowings under the Credit Agreement inclusive of the credit facility and letter of credit sublimit, and the Company was in compliance with all covenants. In addition, the Company did not incur any premium or early penalties in connection with the termination of the Credit Agreement.
Item 2.02. Results of Operations and Financial Condition.
On November 4, 2024, the Company issued a press release announcing its earnings for the third quarter ended September 30, 2024.
A copy of the Press Release is being furnished as Exhibit 99.1 attached hereto and is incorporated by reference herein. This information is being furnished in this report and shall not be deemed to be "filed" for any purpose, including for the purpose of Section 18 of the Securities and Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any filing under the Securities Act of 1993, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item 9.01. Financial Statements and Exhibits.
(d) | Exhibits. | |||||||
| 99.1 | ||||||||
| 104.1 | 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.
| MEDIFAST, INC. | ||||||||
| By: | /s/ James P. Maloney | |||||||
| James P. Maloney | ||||||||
| Chief Financial Officer | ||||||||
| Dated: November 4, 2024 | ||||||||