Atlantic American Corp Reports Material Agreement
Ticker: AAME · Form: 8-K · Filed: Dec 30, 2024 · CIK: 8177
| Field | Detail |
|---|---|
| Company | Atlantic American Corp (AAME) |
| Form Type | 8-K |
| Filed Date | Dec 30, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $1.00, $9.50, $12.00 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, exhibits, financial-statements
Related Tickers: AAAC
TL;DR
AAAC signed a big deal on Dec 26th, filing today. Details in the exhibits.
AI Summary
Atlantic American Corporation filed an 8-K on December 30, 2024, reporting a material definitive agreement entered into on December 26, 2024. The filing also includes financial statements and exhibits related to this agreement. The company is incorporated in Georgia and its fiscal year ends on December 31.
Why It Matters
This filing indicates a significant new agreement for Atlantic American Corporation, which could impact its financial performance and strategic direction.
Risk Assessment
Risk Level: medium — The filing reports a material definitive agreement, which inherently carries business risks that are not fully detailed in this initial report.
Key Numbers
- 0-3722 — Commission File Number (SEC file number for Atlantic American Corp.)
- 58-1027114 — IRS Employer Identification No. (Tax identification number for Atlantic American Corp.)
Key Players & Entities
- ATLANTIC AMERICAN CORP (company) — Registrant
- Georgia (location) — State of incorporation
- December 26, 2024 (date) — Date of earliest event reported
- December 30, 2024 (date) — Filing date
- 404-266-5500 (phone_number) — Registrant's telephone number
FAQ
What is the nature of the material definitive agreement entered into on December 26, 2024?
The filing does not specify the nature of the agreement, only that it is a material definitive agreement and is reported under Item 1.01.
Where can I find the details of the financial statements and exhibits mentioned in the filing?
The financial statements and exhibits are filed as part of this Form 8-K, and their specific contents would be detailed within the attached documents.
When was Atlantic American Corporation incorporated?
Atlantic American Corporation was incorporated in Georgia.
What is the principal executive office address for Atlantic American Corporation?
The principal executive offices are located at 4370 Peachtree Road, N.E., Atlanta, Georgia 30319.
Is this filing related to any recent financial performance of the company?
While the filing includes financial statements and exhibits, it primarily reports the entry into a material definitive agreement, not necessarily a direct report on recent financial performance like an earnings release.
Filing Stats: 650 words · 3 min read · ~2 pages · Grade level 10.9 · Accepted 2024-12-30 09:09:14
Key Financial Figures
- $1.00 — ich registered Common Stock, par value $1.00 per share AAME NASDAQ Global Market
- $9.50 — y the Company thereunder from a rate of $9.50 per annum per square foot to $12.00 per
- $12.00 — e of $9.50 per annum per square foot to $12.00 per annum per square foot, beginning Ja
Filing Documents
- ef20040749_8k.htm (8-K) — 30KB
- ef20040749_ex10-1.htm (EX-10.1) — 12KB
- 0001140361-24-050536.txt ( ) — 176KB
- aame-20241226.xsd (EX-101.SCH) — 4KB
- aame-20241226_lab.xml (EX-101.LAB) — 21KB
- aame-20241226_pre.xml (EX-101.PRE) — 16KB
- ef20040749_8k_htm.xml (XML) — 4KB
01
Item 1.01 Entry into a Material Definitive Agreement. On December 26, 2024, Atlantic American Corporation (the "Company"), and its subsidiary, Bankers Fidelity Life Insurance Company, entered into a Second Amendment to Lease Agreement (the "Second Amendment") with 4370 Peachtree LLC. The Second Amendment amends the Lease Agreement, dated November 1, 2007, by and among the same parties (as previously amended, the "Lease Agreement"), pursuant to which the Company leases space for its principal offices and for some of its insurance operations in an office building located in Atlanta, Georgia. Pursuant to the Second Amendment, the Lease Agreement was modified to increase the base rent payable by the Company thereunder from a rate of $9.50 per annum per square foot to $12.00 per annum per square foot, beginning January 1, 2025. 4370 Peachtree LLC is controlled by Harriett J. Robinson, who is the Company's controlling shareholder and a former member of the Company's Board of Directors (the "Board"). Hilton H. Howell, Jr., the Company's Chairman of the Board and President and Chief Executive Officer, is the son-in-law of Mrs. Robinson. Robin R. Howell, a member of the Board, is the daughter of Mrs. Robinson and the wife of Mr. Howell. The foregoing summary of the Second Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Second Amendment, a copy of which is filed as Exhibit 10.1 hereto and is incorporated herein by reference.
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description of Exhibit 10.1 Second Amendment to Lease Agreement, dated as of December 26, 2024, by and among 4370 Peachtree LLC, Atlantic American Corporation and Bankers Fidelity Life Insurance Company. 104 Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101)
SIGNATURES
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. ATLANTIC AMERICAN CORPORATION By: /s/ J. Ross Franklin J. Ross Franklin Vice President, Chief Financial Officer and Secretary Date: December 30, 2024