Advanced Energy Industries Enters Material Definitive Agreement

TL;DR

AEIS just signed a big deal, triggering new financial obligations. Watch this.

AI Summary

On September 9, 2024, Advanced Energy Industries, Inc. entered into a material definitive agreement, likely related to financing or a significant operational commitment. This event triggered an obligation under an off-balance sheet arrangement or a direct financial obligation, potentially impacting the company's financial standing.

Why It Matters

This filing indicates a significant new financial commitment or obligation for Advanced Energy Industries, which could affect its balance sheet and future financial flexibility.

Risk Assessment

Risk Level: medium — Entering into material definitive agreements and triggering financial obligations can introduce new risks related to debt, performance, or market conditions.

Key Players & Entities

• Advanced Energy Industries, Inc. (company) — Registrant
• September 9, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value AEIS Nasdaq Global Select
• $600.0 m — reement provided aggregate financing of $600.0 million, consisting of a $400.0 million s
• $400.0 million — cing of $600.0 million, consisting of a $400.0 million senior unsecured term loan facility mat
• $200.0 million — , 2026 (the "Term Loan Facility") and a $200.0 million senior unsecured revolving facility mat
• $600.0 million — cility by $400.0 million for a total of $600.0 million in aggregate, all of which is currently
• $250.0 million — n Facility or the Revolving Facility by $250.0 million in the aggregate, subject to certain co
• $345.0 million — ompany concurrently prepaid in full the $345.0 million aggregate principal amount outstanding
• $575.0 million — any's consolidated balance sheet is the $575.0 million aggregate principal amount of 2.50% con

Filing Documents

• aeis-20240909x8k.htm (8-K) — 44KB
• aeis-20240909xex10d1.htm (EX-10.1) — 1226KB
• aeis-20240909x8k004.jpg (GRAPHIC) — 5KB
• 0001558370-24-012709.txt ( ) — 1586KB
• aeis-20240909.xsd (EX-101.SCH) — 3KB
• aeis-20240909_lab.xml (EX-101.LAB) — 15KB
• aeis-20240909_pre.xml (EX-101.PRE) — 10KB
• aeis-20240909x8k_htm.xml (XML) — 5KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. Amendment to Credit Agreement On September 9, 2024, Advanced Energy Industries, Inc. (the "Company") and material domestic subsidiaries of the Company acting as guarantors (the "Guarantors") entered into Amendment No. 4 to the Credit Agreement (the "Amendment"), which amended its existing credit agreement, dated as of September 10, 2019 (as amended by Amendment No. 1, dated September 9, 2021, Amendment No. 2, dated March 31, 2023, and Amendment No. 3, dated September 7, 2023, the "Credit Agreement"), by and among the Company, the Guarantors, the banks and financial institutions listed as lenders in the Credit Agreement, and Bank of America, N.A., as administrative agent. Prior to giving effect to the Amendment, the Credit Agreement provided aggregate financing of $600.0 million, consisting of a $400.0 million senior unsecured term loan facility maturing on September 9, 2026 (the "Term Loan Facility") and a $200.0 million senior unsecured revolving facility maturing on September 9, 2026 (the "Revolving Facility"). The Amendment (a) increases the lenders' commitment under the Revolving Facility by $400.0 million for a total of $600.0 million in aggregate, all of which is currently available, (b) adds Wells Fargo Bank, National Association as a lender, (c) refreshes the accordion feature allowing the Company to increase the size of the Term Loan Facility or the Revolving Facility by $250.0 million in the aggregate, subject to certain conditions, and (d) provides for other customary changes as more fully set forth in the Amendment. There are no changes to the interest rates, maturities, and covenants of the Credit Agreement, and except as set forth in the Amendment, all terms and conditions of the Credit Agreement remain in place. Consistent with the Amendment, the Company concurrently prepaid in full the $345.0 million aggregate principal amount outstanding under the Term Loan Facility, including all accrued an

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 10.1 Amendment No. 4 to Credit Agreement, dated September 9, 2024, by and among Advanced Energy Industries, Inc., the guarantors party thereto, Bank of America, N.A. as the administrative agent, and the lenders party thereto (which includes the marked Credit Agreement as Exhibit A thereto). 104 The cover page from Advanced Energy Industries, Inc. Current Report on Form 8-K, formatted in Inline XBRL.

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. /s/ Paul Oldham Date: September 11, 2024 Paul Oldham Executive Vice President and Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR