AAON, INC. Files Material Definitive Agreement 8-K
Ticker: AAON · Form: 8-K · Filed: Dec 18, 2024 · CIK: 824142
| Field | Detail |
|---|---|
| Company | Aaon, Inc. (AAON) |
| Form Type | 8-K |
| Filed Date | Dec 18, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $80 million, $200 million, $1.3 million, $50 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-definitive-agreement, corporate-filing
TL;DR
AAON signed a big deal, filing today.
AI Summary
On December 16, 2024, AAON, INC. filed an 8-K report detailing a material definitive agreement. The filing, submitted on December 18, 2024, pertains to AAON, INC., a Nevada-incorporated company specializing in air conditioning and heating equipment.
Why It Matters
This filing indicates a significant new contract or partnership for AAON, INC., which could impact its future revenue and operational landscape.
Risk Assessment
Risk Level: medium — Material definitive agreements can introduce new risks or opportunities that may affect the company's financial performance and stock price.
Key Players & Entities
- AAON, INC. (company) — Registrant
- December 16, 2024 (date) — Date of earliest event reported
- December 18, 2024 (date) — Date of report filing
- Nevada (jurisdiction) — State of incorporation
- AIR COND & WARM AIR HEATING EQUIP & COMM & INDL REFRIG EQUIP (industry) — Standard Industrial Classification
FAQ
What type of material definitive agreement did AAON, INC. enter into?
The filing does not specify the exact nature of the material definitive agreement, only that one was entered into on December 16, 2024.
When was this 8-K filing submitted to the SEC?
The 8-K filing was submitted on December 18, 2024.
What is AAON, INC.'s principal executive office address?
AAON, INC.'s principal executive offices are located at 2425 South Yukon Ave., Tulsa, Oklahoma 74107.
What is AAON, INC.'s Standard Industrial Classification code?
AAON, INC.'s Standard Industrial Classification code is 3585, which pertains to AIR COND & WARM AIR HEATING EQUIP & COMM & INDL REFRIG EQUIP.
Is AAON, INC. incorporated in Delaware?
No, AAON, INC. is incorporated in Nevada.
Filing Stats: 719 words · 3 min read · ~2 pages · Grade level 9.3 · Accepted 2024-12-18 16:17:26
Key Financial Figures
- $80 million — Amended Loan Agreement provides for an $80 million term loan ("Term Loan"), in addition to
- $200 million — erm Loan"), in addition to the existing $200 million revolving credit facility (as amended,
- $1.3 million — on the Term Loan will be approximately $1.3 million for 60 months. Proceeds from the Term L
- $50 million — location. Furthermore, approximately $50 million of the $200 million Revolver commitment
Filing Documents
- aaon-20241216.htm (8-K) — 31KB
- aaon_amendedloanagreexex991.htm (EX-99.1) — 986KB
- aaon_revolverwfbxex993.htm (EX-99.3) — 12KB
- aaon_termloanbokxex995.htm (EX-99.5) — 12KB
- aaon_termloanwfbxex996.htm (EX-99.6) — 12KB
- aaon_termloanusbxex997.htm (EX-99.7) — 12KB
- 0000824142-24-000249.txt ( ) — 1369KB
- aaon-20241216.xsd (EX-101.SCH) — 2KB
- aaon-20241216_lab.xml (EX-101.LAB) — 21KB
- aaon-20241216_pre.xml (EX-101.PRE) — 12KB
- aaon-20241216_htm.xml (XML) — 3KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. On December 16, 2024 (the "Effective Date"), AAON, Inc., an Oklahoma corporation, AAON Coil Products, Inc., a Texas corporation, and BasX, Inc., an Oregon corporation, all wholly-owned subsidiaries of AAON, Inc., a Nevada Corporation (collectively, the "Company"), entered into that certain Third Amendment to the Amended and Restated Loan Agreement (collectively, as amended, the "Amended Loan Agreement") with the following lenders: BOKF, NA dba Bank of Oklahoma, Wells Fargo Bank, National Association, and U.S. Bank, N.A. (collectively, the "Lenders") with BOKF, NA dba Bank of Oklahoma as the administrative agent for the Lenders. The Amended Loan Agreement provides for an $80 million term loan ("Term Loan"), in addition to the existing $200 million revolving credit facility (as amended, "Revolver") with the Lenders, from the Effective Date, with a maturity date on December 16, 2029. Monthly principal payments on the Term Loan will be approximately $1.3 million for 60 months. Proceeds from the Term Loan will finance the building, machinery, and equipment for our Memphis plant location. Furthermore, approximately $50 million of the $200 million Revolver commitment was assigned from JPMorgan Chase Bank, N.A. (the "Assignor") to Wells Fargo Bank, National Association (the "Assignee"). The foregoing description of the Amended Loan Agreement does not purport to be complete and is qualified in its entirety by reference to the Amended Loan Agreement, which is incorporated herein by reference. A copy of the Amended Loan Agreement is attached hereto as Exhibit 99.1.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 99.1 Amended and Restated Loan Agreement, dated December 16, 2024. 99.2 Promissory Note - Revolver (BOKF, NA dba Bank of Oklahoma), dated May 27, 2022. 1 99.3 Promissory Note - Revolver (Wells Fargo Bank, National Association), dated December 16, 2024. 99.4 Promissory Note - Revolver (U.S. Bank, N.A.), dated May 27, 2022. 1 99.5 Promissory Note - Term Loan (BOKF, NA dba Bank of Oklahoma), dated December 16, 2024 99.6 Promissory Note - Term Loan (Wells Fargo Bank, National Association), dated December 16, 2024. 99.7 Promissory Note - Term Loan (U.S. Bank, N.A.), dated December 16, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 1 Incorporated herein by reference to the exhibit to our Form 8-k dated June 1, 2022.
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. AAON, INC. Date: December 18, 2024 By: /s/ Luke A. Bomer Luke A. Bomer, Secretary