Aviat Networks Enters Material Definitive Agreement
Ticker: AVNW · Form: 8-K · Filed: Oct 22, 2024 · CIK: 1377789
| Field | Detail |
|---|---|
| Company | Aviat Networks, Inc. (AVNW) |
| Form Type | 8-K |
| Filed Date | Oct 22, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01, $75,000,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-definitive-agreement, contract
Related Tickers: AVNW
TL;DR
Aviat Networks signed a big deal, details TBD.
AI Summary
On October 18, 2024, Aviat Networks, Inc. entered into a Material Definitive Agreement. The filing does not provide specific details on the agreement or any associated dollar amounts or parties involved.
Why It Matters
This filing indicates a significant new contract or partnership for Aviat Networks, which could impact its future revenue and strategic direction.
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
- AVIAT NETWORKS, INC. (company) — Registrant
- October 18, 2024 (date) — Date of earliest event reported
FAQ
What is the nature of the Material Definitive Agreement entered into by Aviat Networks, Inc.?
The filing states that Aviat Networks, Inc. entered into a Material Definitive Agreement on October 18, 2024, but does not provide specific details about its nature.
Who are the other parties involved in this Material Definitive Agreement?
The filing does not disclose the names of the other parties involved in the Material Definitive Agreement.
Are there any financial terms or dollar amounts associated with this agreement?
The provided filing excerpt does not mention any specific dollar amounts or financial terms related to the Material Definitive Agreement.
When was the Material Definitive Agreement officially entered into?
The agreement was entered into on October 18, 2024, which is the date of the earliest event reported.
What is the SEC file number for this 8-K filing?
The SEC file number for this 8-K filing is 001-33278.
Filing Stats: 725 words · 3 min read · ~2 pages · Grade level 10.8 · Accepted 2024-10-22 16:33:02
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 per share AVNW NASDAQ Stock Market LLC
- $75,000,000 — ns in the aggregate principal amount of $75,000,000 for the purpose of refinancing the Dela
Filing Documents
- avnw-20241018.htm (8-K) — 32KB
- secondamendmenttocreditagr.htm (EX-10.1) — 54KB
- 0001377789-24-000052.txt ( ) — 247KB
- avnw-20241018.xsd (EX-101.SCH) — 2KB
- avnw-20241018_def.xml (EX-101.DEF) — 7KB
- avnw-20241018_lab.xml (EX-101.LAB) — 27KB
- avnw-20241018_pre.xml (EX-101.PRE) — 16KB
- avnw-20241018_htm.xml (XML) — 4KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. On October 18, 2024, Aviat Networks, Inc., a Delaware corporation (the "Company," "Aviat", "we," "us," or "our") entered into a Second Amendment to Credit Agreement (the "Credit Agreement Amendment"), with Aviat U.S., Inc. ("Opco" and together with the Company the "U.S. Borrowers"), Aviat Networks (S) Pte. Ltd. (the "Singapore Borrower" and together with the Company and Opco, the "Borrowers") and Wells Fargo Bank, National Association, as administrative agent, swingline lender and issuing lender and Wells Fargo Securities LLC, Citigroup Global Markets Inc., and Regions Capital Markets as joint lead arrangers and joint bookrunners (the "Lender"). The Credit Agreement Amendment amends and modifies that certain Secured Credit Facility Agreement dated May 9, 2023, by and among the Company, the Borrowers, and the Lender (as amended, the "Loan Facility" or the "Credit Agreement"). The Credit Agreement Amendment provided for changes and modifications to the Credit Agreement, which include, among other things, (i) changes to certain payment term mechanics, (ii) a commitment by certain members of the Lender to make term loans in the aggregate principal amount of $75,000,000 for the purpose of refinancing the Delayed Draw Term Loans (as that term is defined in the Credit Agreement) currently outstanding under the Credit Agreement, and (iii) an increase in the Revolving Credit Commitments (as that term is defined in the Credit Agreement) to $75,000,000 in the aggregate. The foregoing description of the Credit Agreement Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Credit Agreement Amendment, which is filed with this Current Report on Form 8-K as Exhibit 10.1 and is incorporated herein by reference.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1*# Second Amendment to Credit Agreement, dated October 18, 2024, by and among the Borrowers and the Lender. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). * Furnished herewith. # Certain schedules and exhibits to this agreement have been omitted in accordance with Item 601(a)(5) of Regulation S-K. A copy of any omitted schedule and/or exhibit will be furnished to the SEC on request. Certain portions of this exhibit were redacted pursuant to Item 601(b)(10)(iv) of Regulation S-K. 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. AVIAT NETWORKS, INC. Date: October 22, 2024 By: /s/ Michael Connaway Name: Michael Connaway Title: Senior Vice President and Chief Financial Officer