Allient Inc. Enters Material Definitive Agreement

TL;DR

ALLNT just signed a big new credit deal, expect financial moves.

AI Summary

On October 22, 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 and obligations.

Why It Matters

This filing indicates a new significant financial obligation for Allient Inc., which could impact its financial flexibility and future operations.

Risk Assessment

Risk Level: medium — Entering into new credit agreements can introduce financial leverage and obligations that carry inherent risks.

Key Players & Entities

• Allient Inc. (company) — Registrant
• October 22, 2024 (date) — Date of earliest event reported

FAQ

Filing Documents

• alnt-20241022x8k.htm (8-K) — 38KB
• alnt-20241022xex10d1.htm (EX-10.1) — 122KB
• alnt-20241022xex10d2.htm (EX-10.2) — 84KB
• alnt-20241022xex10d3.htm (EX-10.3) — 140KB
• alnt-20241022xex10d4.htm (EX-10.4) — 89KB
• alnt-20241022xex99d1.htm (EX-99.1) — 20KB
• alnt-20241022xex99d1001.jpg (GRAPHIC) — 10KB
• alnt-20241022xex99d1002.jpg (GRAPHIC) — 1KB
• 0001558370-24-013662.txt ( ) — 716KB
• alnt-20241022.xsd (EX-101.SCH) — 3KB
• alnt-20241022_lab.xml (EX-101.LAB) — 18KB
• alnt-20241022_pre.xml (EX-101.PRE) — 13KB
• alnt-20241022x8k_htm.xml (XML) — 5KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. Amendments to Revolving Credit Facility On October 22, 2024, Allient Inc. and one of its subsidiaries, Allied Motion Technologies B.V. (together, the "Company") entered into a Second Amendment (the "Amendment") to Third Amended and Restated Credit Agreement with HSBC Bank USA, National Association, as Administrative Agent, and the other financial institutions signatory thereto. All capitalized terms used in this Current Report on Form 8-K and not otherwise defined herein have the meanings ascribed to such terms in the Credit Agreement, as amended (the "Revolving Facility"). The Revolving Facility contains affirmative and negative covenants customarily found in facilities of this type. Pursuant to the Amendment, the Company's maximum permitted Leverage Ratio is (i) increased to 4.5:1.0 for the quarters ending March 31, 2025, and June 30, 2025, and (ii) increased to 4.0:1.0 for the quarter ending September 30, 2025. In calculating certain financial covenants under the Revolving Facility, the definition of Consolidated EBITDA was revised to permit the inclusion of certain acquisition, business retention, restructuring, integration, and realignment costs. Additionally, the Amendment imposed certain restrictions on acquisitions through December 31, 2025. Pursuant to the Amendment, the Applicable Rate for the period beginning on January 1, 2025 and ending on September 30, 2025 is set forth in Pricing Level VII of the Revolving Facility, regardless of the Company's Leverage Ratio. The foregoing summary description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the Second Amendment to Third Amended and Restated Credit Agreement, which is filed as Exhibit 10.2 hereto and is incorporated herein by reference. On July 30, 2024, the Company entered into a First Amendment to Third Amended and Restated Credit Agreement (the "First Amendment") that included non-ma

01. Regulation FD Disclosure

Item 7.01. Regulation FD Disclosure. On October 25, 2024, the Company issued a press release announcing the Amendment and NPA Amendments, a copy of which is furnished herewith as Exhibit 99.1. The information contained in this Item 7.01 and Exhibit 99.1 shall not be deemed to be "filed" for the purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of such section, nor will such information be deemed incorporated by reference in any filing under the Securities Act or the Exchange Act, except as may be expressly set forth by specific reference in such filing.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits (d) Exhibits. The following exhibit is filed herewith: 10.1 First Amendment, dated as of July 30, 2024, to 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, and the other financial institutions signatory thereto. 10.2 Second Amendment, dated as of October 22, 2024, to 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, and the other financial institutions signatory thereto. 10.3 First Amendment, dated as of July 30, 2024, to Note Purchase and Private Shelf Agreement dated as of March 1, 2024, among Allient Inc. and each of the holders of the Notes signatory thereto. 10.4 Second Amendment, dated as of October 22, 2024, to Note Purchase and Private Shelf Agreement dated as of March 1, 2024, among Allient Inc. and each of the holders of the Notes signatory thereto . 99.1 Press Release of Allient Inc., dated October 25, 2024 . 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: October 25, 2024 ALLIENT INC. By: /s/ James A. Michaud James A. Michaud Senior Vice President & Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR