Albany International Corp. Enters Material Definitive Agreement
Ticker: AIN · Form: 8-K · Filed: Jul 3, 2024 · CIK: 819793
| Field | Detail |
|---|---|
| Company | Albany International Corp /De/ (AIN) |
| Form Type | 8-K |
| Filed Date | Jul 3, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, definitive-agreement
Related Tickers: AIN
TL;DR
Albany International just signed a big deal, details TBD.
AI Summary
Albany International Corp. entered into a material definitive agreement on June 28, 2024. The filing does not disclose specific details of the agreement, the other parties involved, or any associated dollar amounts.
Why It Matters
This filing indicates a significant new contract or partnership for Albany International Corp., which could impact its future business operations and financial performance.
Risk Assessment
Risk Level: medium — The lack of specific details in the filing creates uncertainty about the nature and impact of the agreement.
Key Players & Entities
- Albany International Corp. (company) — Registrant
- June 28, 2024 (date) — Date of earliest event reported
- Delaware (jurisdiction) — State of incorporation
- 603-330-5800 (phone_number) — Registrant's telephone number
FAQ
What is the nature of the material definitive agreement entered into by Albany International Corp.?
The filing does not specify the nature of the agreement, only that it is a material definitive agreement.
Who are the other parties involved in this material definitive agreement?
The filing does not disclose the names of the other parties to the agreement.
What is the effective date of this material definitive agreement?
The earliest event reported is June 28, 2024, which is the date of the agreement.
Are there any financial terms or dollar amounts associated with this agreement disclosed in the filing?
No, the filing does not provide any specific dollar amounts or financial terms related to the agreement.
What is the purpose of this Form 8-K filing for Albany International Corp.?
The purpose is to report the entry into a material definitive agreement, as required by Section 13 or 15(d) of the Securities Exchange Act of 1934.
Filing Stats: 589 words · 2 min read · ~2 pages · Grade level 11.8 · Accepted 2024-07-03 13:51:37
Key Financial Figures
- $0.001 — hich registered Class A Common Stock, $0.001 par value per share AIN The New York
Filing Documents
- ain-20240628.htm (8-K) — 28KB
- 0000819793-24-000040.txt ( ) — 178KB
- ain-20240628.xsd (EX-101.SCH) — 3KB
- ain-20240628_def.xml (EX-101.DEF) — 14KB
- ain-20240628_lab.xml (EX-101.LAB) — 26KB
- ain-20240628_pre.xml (EX-101.PRE) — 15KB
- ain-20240628_htm.xml (XML) — 4KB
01. Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement. On June 28, 2024, Albany International Corp. (the "Company") entered into the first amendment (the "First Amendment") to its Amended and Restated Credit Agreement, dated as of August 16, 2023 (the "Existing Credit Agreement", the Existing Credit Agreement, as amended pursuant to the First Amendment, the "Credit Agreement"), by and among the Company, Albany International Holding (Switzerland) AG, Albany International Europe GMBH, Albany International Canada Corp., the other Borrowing Subsidiaries party thereto, the Lenders party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent. The parties to the First Amendment include the Company and the Administrative Agent. The First Amendment, among other things, replaces the existing interest rate benchmark for borrowings denominated in Canadian Dollars, the CDO Rate (as defined in the Existing Credit Agreement), with Adjusted Term CORRA (as defined in the Credit Agreement), which includes a credit spread adjustment of 0.29547% for loans with one-month interest periods or 0.32138% for loans with three-month interest periods. The foregoing summary of the First Amendment does not purport to be complete and is qualified in its entirety by reference to the full and complete text of the First Amendment which will be filed as an exhibit to the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2024. 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. ALBANY INTERNATIONAL CORP. By: /s/ Robert D. Starr Name: Robert D. Starr Title: Executive Vice President and Chief Financial Officer (Principal Financial Officer) Date: July 3, 2024 EXHIBIT INDEX Exhibit No. Description 104 Inline XBRL cover page.