American Woodmark Enters Material Definitive Agreement

TL;DR

AMWD inked a new credit deal, locking in financial obligations.

AI Summary

On October 10, 2024, American Woodmark Corporation entered into a material definitive agreement, specifically a credit agreement, which creates a direct financial obligation for the registrant. The company is incorporated in Virginia and its principal executive offices are located at 561 Shady Elm Road, Winchester, Virginia.

Why It Matters

This filing indicates a significant financial commitment or arrangement for American Woodmark Corporation, which could impact its financial obligations and operational flexibility.

Risk Assessment

Risk Level: medium — Entering into new financial agreements can introduce new risks related to debt covenants, interest rate fluctuations, and repayment obligations.

Key Numbers

• 000-14798 — SEC File Number (Identifier for American Woodmark Corporation's filings)
• 54-1138147 — IRS Employer Identification No. (Tax identification for the company)

Key Players & Entities

• American Woodmark Corporation (company) — Registrant
• October 10, 2024 (date) — Date of earliest event reported
• Virginia (location) — State of incorporation
• 561 Shady Elm Road, Winchester, Virginia 22602 (address) — Principal executive offices

FAQ

Key Financial Figures

• $500 million — ond A&R Credit Agreement provides for a $500 million revolving loan facility and a $200 mill
• $200 million — 0 million revolving loan facility and a $200 million term loan facility, both of which matur
• $50 million — sub-facility for the issuance of up to $50 million of letters of credit. Upon entering i
• $173 million — ew term loan facility and approximately $173 million under the new revolving loan facility.
• $370 million — ings to repay in full the approximately $370 million in aggregate principal amount outstandi

Filing Documents

• amwd-20241010.htm (8-K) — 38KB
• ex101creditagreement.htm (EX-10.1) — 120KB
• ex102creditagreement.htm (EX-10.2) — 1358KB
• 0000794619-24-000092.txt ( ) — 1865KB
• amwd-20241010.xsd (EX-101.SCH) — 2KB
• amwd-20241010_lab.xml (EX-101.LAB) — 19KB
• amwd-20241010_pre.xml (EX-101.PRE) — 11KB
• amwd-20241010_htm.xml (XML) — 3KB

01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT

ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT On October 10, 2024 , American Woodmark Corporation, a Virginia corporation (the "Company"), and certain of its domestic subsidiaries (the "Subsidiaries") entered into a second amendment and restatement agreement (the "Restatement Agreement") with Wells Fargo Bank, National Association, as administrative agent, swingline lender, issuing lender and a lender, and each of the other lenders party thereto, pursuant to which the Company's existing amended and restated credit agreement, dated as of April 22, 2021 (as previously amended, the "Existing Credit Agreement"), was amended and restated in the form attached as Exhibit A to the Restatement Agreement (such second amended and restated credit agreement, the "Second A&R Credit Agreement"). Wells Fargo Securities, LLC, Bank of America, N.A., Citibank, N.A., TD Bank, N.A. and U.S. Bank National Association acted as joint lead arrangers and joint bookrunners. The Second A&R Credit Agreement provides for a $500 million revolving loan facility and a $200 million term loan facility, both of which mature on October 10, 2029. The revolving loan facility includes a sub-facility for the issuance of up to $50 million of letters of credit. Upon entering into the Restatement Agreement, the Company borrowed the entire $200 million available under the new term loan facility and approximately $173 million under the new revolving loan facility. The Company used the proceeds from these borrowings to repay in full the approximately $370 million in aggregate principal amount outstanding under the Existing Credit Agreement, plus accrued and unpaid interest, and to pay related fees and expenses. The Company is required to repay the original aggregate principal amount of the new term loan in quarterly installments calculated in accordance with the Second A&R Credit Agreement beginning on January 31, 2025. The Company may prepay outstanding loans at any time, in whole or in part, witho

01 FINANCIAL STATEMENTS AND EXHIBITS

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS (d) Exhibits Exhibit 10 .1 Second Amendment and Restatement Agreement, dated October 10, 2024 , by and among American Woodmark Corporation, each Subsidiary of American Woodmark Corporation party thereto, the Lenders party thereto and Wells Fargo Bank, National Association, as Administrative Agent, Swingline Lender, Issuing Lender and a Lender Exhibit 10 . 2 Second Amendment and Restatement Agreement, dated October 10, 2024 , by and among American Woodmark Corporation, as Borrower, the Lenders from time to time parties thereto and Wells Fargo Bank, National Association, as Administrative Agent, Swingline Lender and Issuing Lender Exhibit 104 Cover Page Interactive Data File (embedded within 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 thereunto duly authorized. AMERICAN WOODMARK CORPORATION (Registrant) /s/ PAUL JOACHIMCZYK /s/ M. SCOTT CULBRETH Paul Joachimczyk M. Scott Culbreth Senior Vice President and Chief Financial Officer President & Chief Executive Officer Date: October 15, 2024 Date: October 15, 2024 Signing on behalf of the registrant and as principal financial officer Signing on behalf of the registrant and as principal executive officer

View Full Filing

View this 8-K filing on SEC EDGAR