Allient Inc. Enters Material Definitive Agreement

TL;DR

ALLIENT INC just signed a big new loan agreement, watch their debt!

AI Summary

On March 21, 2024, Allient Inc. entered into a material definitive agreement, specifically a credit agreement, which creates a direct financial obligation for the company. This agreement is a significant event for the company's financial structure.

Why It Matters

This filing indicates a new financial commitment or obligation for Allient Inc., which could impact its debt structure and future financial flexibility.

Risk Assessment

Risk Level: medium — Entering into new credit agreements can introduce financial obligations and potentially increase leverage, requiring careful monitoring of the company's financial health.

Key Players & Entities

• ALLIENT INC (company) — Registrant
• March 21, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $50 million — affiliates of PGIM, Inc. ("Prudential") $50 million in aggregate principal amount of the Se

Filing Documents

• alnt-20240321x8k.htm (8-K) — 29KB
• alnt-20240321xex10d1.htm (EX-10.1) — 804KB
• 0001558370-24-003855.txt ( ) — 1083KB
• alnt-20240321.xsd (EX-101.SCH) — 3KB
• alnt-20240321_lab.xml (EX-101.LAB) — 15KB
• alnt-20240321_pre.xml (EX-101.PRE) — 10KB
• alnt-20240321x8k_htm.xml (XML) — 5KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. The information set forth under Item 2.03 of this report on Form 8-K is hereby incorporated in Item 1.01 by reference. When the Notes (as defined below) were issued and sold by Allient Inc. (the "Company") on March 21, 2024, in the transaction described in Item 2.03, the material provisions of the Private Shelf Agreement (as defined below) became enforceable against the Company. Item 2.03. Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant. On March 21, 2024, Allient Inc. (the "Company") issued and sold to certain affiliates of PGIM, Inc. ("Prudential") $50 million in aggregate principal amount of the Series A Senior Notes due March 21, 2031 (the "Notes"). The Notes were issued pursuant to the Private Shelf Agreement dated as of March 1, 2024 (the "Private Shelf Agreement") among the Company, Prudential, and certain of its affiliates (the "Prudential Affiliates") party thereto. The Notes represent senior promissory notes of the Company and will bear interest at 5.96% and will mature on March 21, 2031. Interest on the Notes will be payable quarterly on the 21st day of March, June, September and December in each year, commencing on June 21, 2024. Interest will be computed on the basis of a 360-day year composed of twelve 30-day months. The obligations under the Private Shelf Agreement are secured by substantially all of the Company's non-realty assets and are fully and unconditionally guaranteed by certain of the Company's subsidiaries. The Notes may be prepaid at the option of the Company, in accordance with the terms of the Private Shelf Agreement, at 100% of the principal amount to be prepaid plus accrued interest plus the defined "Make-Whole Amount," if any. The Private Shelf Agreement includes customary events of default, including, among others: (i) non-payment of amounts due thereunder, (ii) the material inaccuracy of representations

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits (d) Exhibits. The following exhibit is filed herewith: 10.1 Private Shelf Agreement dated as of March 1, 2024, among Allient Inc., PGIM, Inc. and the other parties thereto 10.2 Form of Note (included in Exhibit 10.1) 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 25, 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