Allient Inc. Enters New Agreement, Terminates Old One

TL;DR

Allient Inc. just signed a new deal and ditched an old one, creating new debt.

AI Summary

On March 1, 2024, Allient Inc. entered into a material definitive agreement and simultaneously terminated a prior material definitive agreement. This action also created a direct financial obligation for the registrant. The filing includes financial statements and exhibits related to these events.

Why It Matters

This filing indicates a significant change in Allient Inc.'s contractual obligations, potentially impacting its financial structure and future operations.

Risk Assessment

Risk Level: medium — Entering into new material definitive agreements and terminating old ones, along with creating new financial obligations, introduces potential financial and operational risks.

Key Players & Entities

• Allient Inc. (company) — Registrant
• March 1, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $280 million — acility replaced the Company's existing $280 million revolving credit facility (the "Existin
• $280 m — the aggregate principal amount of up to $280 million, with a $50 million accordion fea
• $50 million — al amount of up to $280 million, with a $50 million accordion feature. Borrowings will bear
• $150 million — an aggregate principal amount of up to $150 million. The Shelf Notes will have a maturity d

Filing Documents

• alnt-20240301x8k.htm (8-K) — 37KB
• alnt-20240301xex10d1.htm (EX-10.1) — 1464KB
• 0001558370-24-002372.txt ( ) — 1847KB
• alnt-20240301.xsd (EX-101.SCH) — 3KB
• alnt-20240301_lab.xml (EX-101.LAB) — 15KB
• alnt-20240301_pre.xml (EX-101.PRE) — 10KB
• alnt-20240301x8k_htm.xml (XML) — 4KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. Revolving Credit Facility On March 1, 2024, Allient Inc. and one of its subsidiaries, Allied Motion Technologies B.V. (together, the "Company") entered into a Third Amended and Restated Credit Agreement (the "Revolving Facility") with HSBC Bank USA, National Association, as Administrative Agent, the lenders from time to time party thereto, and HSBC Bank USA, National Association, Wells Fargo Bank, National Association, TD Bank, N.A. and PNC Capital Markets LLC, as Joint Lead Arrangers, and Citizens Bank, N.A., as Syndication Agent. The Revolving Facility replaced the Company's existing $280 million revolving credit facility (the "Existing Revolving Facility"), dated as of August 23, 2022, by any among the Company, HSBC Bank USA, National Association, as Administrative Agent, the lenders from time to time party thereto, and HSBC Bank USA, National Association, KeyBank National Association, Wells Fargo Bank, National Association and JPMorgan Chase Bank, N.A., as Joint Lead Arrangers. The Revolving Facility allows for borrowings in the aggregate principal amount of up to $280 million, with a $50 million accordion feature. Borrowings will bear interest, at the Company's option, at the Term SOFR Rate (as defined in the Revolving Facility) plus a margin of 1.25% to 2.50% or at the Alternative Base Rate (as defined in the Revolving Facility) plus a margin of 0.25% to 1.50%, in each case depending on the Company's ratio of Funded Indebtedness (as defined in the Revolving Facility) to Consolidated EBITDA (the "Leverage Ratio"). In addition, the Company is required to pay a commitment fee of between 0.15% and 0.325% quarterly (currently 0.275%) on the unused portion of the Revolving Facility, also based on the Company's Leverage Ratio. The Revolving Facility matures on March 1, 2029, and borrowings continue to be secured by substantially all of the Company's non-realty assets and is fully and unconditionally guarante

02. Termination of a Material Definitive Agreement

Item 1.02. Termination of a Material Definitive Agreement. On March 1, 2024, in connection with the entrance into the Revolving Facility, the Company repaid all of the outstanding obligations under and terminated the Existing Revolving Facility. 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 Item 1.01 is hereby incorporated by reference into this Item 2.03.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits (d) Exhibits. The following exhibit is filed herewith: 10.1 Third Amended and Restated Credit Agreement dated as of March 1, 2024, among Allient Inc. and Allied Motion Technologies B.V. as Borrowers, HSBC Bank USA, National Association, as Administrative Agent, the lenders from time to time party thereto, and HSBC Bank USA, National Association, Wells Fargo Bank, National Association, TD Bank, N.A. and PNC Capital Markets LLC, as Joint Lead Arrangers, and Citizens Bank, N.A., as Syndication Agent. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

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. Date: March 4, 2024 ALLIENT INC. By: /s/ Michael R. Leach Michael R. Leach Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR