Postal Realty Trust 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.
On October 25, 2024 (the “Effective Date”), Postal Realty Trust, Inc. (the “Company”), Postal Realty LP (the “Borrower”), certain subsidiaries of the Company, Truist Bank, as administrative agent, and certain lenders party to the Credit Agreement (as defined below) entered into that certain Resignation and Appointment of Administrative Agent, L/C Issuer and Swingline Lender and Third Amendment to Credit Agreement (the “Third Amendment”), which amends that certain Credit Agreement dated as of August 9, 2021, (as amended by the First Amendment to Credit Agreement dated as of May 11, 2022, and further amended by the Second Amendment to the Credit Agreement, dated as of July 24, 2023) entered into by and among the Company, the Borrower, certain subsidiaries of the Company, the Bank of Montreal and the lenders party thereto (as previously amended and as amended by the Third Amendment, the “Credit Agreement”). Capitalized terms used below and not defined herein have the meanings ascribed to them in the Credit Agreement.
The Third Amendment, among other things, replaces the Bank of Montreal with Truist Bank as the administrative agent, letter of credit issuer and swingline lender. Additionally, the Third Amendment increases the delayed draw term loan commitments in an aggregate principal amount of up to $50.0 million. On the Effective Date, the Borrower borrowed $40.0 million of these new delayed draw term loan commitments.
The foregoing summary of the Third Amendment and the Credit Agreement does not purport to be complete and is qualified in its entirety by reference to the Third Amendment, a copy of which is attached as Exhibit 10.1 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 set forth under Item 1.01 is incorporated herein by reference in this Item 2.03.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. | Document | |
| 10.1 | Resignation and Appointment of Administrative Agent, L/C Issuer and Swingline Lender and Third Amendment to Credit Agreement, dated October 25, 2024, by and among Postal Realty LP, Postal Realty Trust, Inc., the certain subsidiaries from time to time party thereto as guarantors, and Truist Bank, as administrative agent, and the several banks and financial institutions party thereto as lenders. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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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.
Date: October 28, 2024
| POSTAL REALTY TRUST, INC. | |||
| By: | /s/ Jeremy Garber | ||
| Name: | Jeremy Garber | ||
| Title: | President, Treasurer and Secretary | ||
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