Adient plc Enters Material Definitive Agreement on Jan 31, 2024

TL;DR

**Adient just signed a big new deal, details pending, could move the stock.**

AI Summary

Adient plc, a major automotive seating supplier, filed an 8-K on February 1, 2024, to report an "Entry into a Material Definitive Agreement" that occurred on January 31, 2024. This filing indicates that Adient has entered into a significant new contract or agreement, which could impact its future revenue streams and operational costs. For investors, this matters because material agreements can signal new business opportunities, strategic partnerships, or changes in financial obligations, potentially affecting the company's stock performance.

Why It Matters

This filing signals a new, significant business agreement for Adient, which could positively or negatively impact its financial outlook and future stock value depending on the specifics of the deal.

Risk Assessment

Risk Level: medium — The filing indicates a material agreement but lacks specific details, creating uncertainty about its financial impact and potential risks or benefits.

Analyst Insight

A smart investor would monitor Adient plc for subsequent filings or press releases that provide specific details about the 'Material Definitive Agreement' to assess its potential financial impact before making investment decisions.

Key Numbers

• $0.001 — Par value per Ordinary Share (This is the nominal value of each share of Adient plc.)

Key Players & Entities

• Adient plc (company) — the registrant filing the 8-K
• January 31, 2024 (date) — date of the earliest event reported
• February 1, 2024 (date) — date the 8-K was filed
• $0.001 (dollar_amount) — par value of Ordinary Shares
• New York Stock Exchange (company) — exchange where Adient's shares are registered

Forward-Looking Statements

• Adient plc will provide more details about the 'Material Definitive Agreement' in a subsequent filing or earnings call. (Adient plc) — high confidence, target: Q2 2024

FAQ

Key Financial Figures

• $0.001 — registered Ordinary Shares, par value $0.001 ADNT New York Stock Exchange Check th
• $635,000,000 — t as of the Amendment Effective Date of $635,000,000 remained unchanged. The obligations und

Filing Documents

• adnt-20240131.htm (8-K) — 27KB
• adient-exatoamendmentno3am.htm (EX-10.1) — 1954KB
• 0001670541-24-000023.txt ( ) — 2474KB
• adnt-20240131.xsd (EX-101.SCH) — 2KB
• adnt-20240131_def.xml (EX-101.DEF) — 15KB
• adnt-20240131_lab.xml (EX-101.LAB) — 29KB
• adnt-20240131_pre.xml (EX-101.PRE) — 16KB
• adnt-20240131_htm.xml (XML) — 3KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. On January 31, 2024 (the "Amendment Effective Date"), Adient US LLC, a Michigan limited liability company (the "Lead Borrower"), Adient Global Holdings S..r.l., a private limited liability company ( socit responsabilit limite ) incorporated under the laws of the Grand Duchy of Luxembourg (together with the Lead Borrower, collectively, the "Borrowers" and each, a "Borrower"), Adient plc ("Parent") and certain of Parent's other subsidiaries entered into an amendment (the "Amendment") of the Term Loan Credit Agreement, dated as of May 6, 2019 (as amended prior to the Amendment Effective Date, the "Existing Credit Agreement" and, as amended by the Amendment, the "Credit Agreement"), among the Borrowers, each of the lenders identified therein and Bank of America, N.A., as administrative agent and collateral agent (the "Agent"). The Amendment, among other changes, (i) extends the maturity date for loans outstanding under the Credit Agreement to January 31, 2031 and (ii) reduces the interest rate margin applicable thereunder to 2.75%, in the case of Term SOFR loans, and 1.75%, in the case of Base Rate loans. The total loans outstanding under the Credit Agreement as of the Amendment Effective Date of $635,000,000 remained unchanged. The obligations under the Credit Agreement continue to be guaranteed on a secured basis by Parent and certain of its material wholly-owned restricted subsidiaries on substantially the same terms and subject to the same exceptions as the Existing Credit Agreement. The foregoing description of the Amendment does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Amendment, which is attached as Exhibit 10.1 to this Current Report on Form 8-K and incorporated by reference herein. 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 Ite

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. EXHIBIT INDEX Exhibit No. Exhibit Description 10.1 Amendment No. 3 dated January 31, 2024 to the Term Loan Credit Agreement dated as of May 6, 2019, among the Borrowers, the lenders party hereto, and the Agent. 104 Cover Page Interactive Data File (the Cover Page Interactive Data File is 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. ADIENT PLC Date: February 1, 2024 By: /s/ Heather M. Tiltmann Name: Heather M. Tiltmann Title: Executive Vice President, Chief Legal and Human Resources Officer, and Corporate Secretary

View Full Filing

View this 8-K filing on SEC EDGAR