Avnet Inc. Files 8-K on Material Agreement and Financial Obligation
Ticker: AVT · Form: 8-K · Filed: Aug 28, 2025 · CIK: 8858
| Field | Detail |
|---|---|
| Company | Avnet INC (AVT) |
| Form Type | 8-K |
| Filed Date | Aug 28, 2025 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 4 min |
| Key Dollar Amounts | $1.00, $100 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, financial-obligation
Related Tickers: AVT
TL;DR
AVT entered a big deal and owes money, filing shows.
AI Summary
On August 28, 2025, Avnet, Inc. filed an 8-K report detailing a material definitive agreement and a direct financial obligation. The filing indicates the company entered into a significant agreement and incurred a financial obligation, though specific details of the agreement and the exact amount of the obligation are not provided in this excerpt.
Why It Matters
This filing signals a significant new financial commitment or partnership for Avnet, Inc., which could impact its future financial performance and strategic direction.
Risk Assessment
Risk Level: medium — The filing indicates a material definitive agreement and a direct financial obligation, which inherently carries financial risk for the company.
Key Players & Entities
- AVNET INC (company) — Registrant
- August 28, 2025 (date) — Date of Report
- 2211 South 47th Street (address) — Principal Executive Offices
- Phoenix, Arizona (location) — Principal Executive Offices City and State
- 85034 (zip_code) — Principal Executive Offices Zip Code
- 4806432000 (phone_number) — Registrant's telephone number
FAQ
What is the nature of the material definitive agreement Avnet, Inc. entered into?
The filing states that Avnet, Inc. entered into a material definitive agreement, but the specific details of this agreement are not provided in the excerpt.
What is the direct financial obligation Avnet, Inc. has incurred?
The filing indicates Avnet, Inc. has a direct financial obligation, but the specific amount and terms of this obligation are not detailed in the provided text.
When was this 8-K filing submitted?
The filing was submitted on August 28, 2025.
What is Avnet, Inc.'s principal executive office address?
Avnet, Inc.'s principal executive office is located at 2211 South 47th Street, Phoenix, Arizona, 85034.
What is the SIC code for Avnet, Inc.?
The Standard Industrial Classification (SIC) code for Avnet, Inc. is 5065, which corresponds to Wholesale-Electronic Parts & Equipment, NEC.
Filing Stats: 1,059 words · 4 min read · ~4 pages · Grade level 10.8 · Accepted 2025-08-28 16:42:54
Key Financial Figures
- $1.00 — h registered: Common stock, par value $1.00 per share AVT NASDAQ Global Select
- $100 million — ny may repurchase up to an aggregate of $100 million of shares of its common stock. The des
Filing Documents
- avt-20250828x8k.htm (8-K) — 49KB
- avt-20250828xex10d1.htm (EX-10.1) — 1911KB
- avt-20250828xex10d2.htm (EX-10.2) — 1383KB
- 0000008858-25-000043.txt ( ) — 3884KB
- avt-20250828.xsd (EX-101.SCH) — 4KB
- avt-20250828_lab.xml (EX-101.LAB) — 15KB
- avt-20250828_pre.xml (EX-101.PRE) — 10KB
- avt-20250828x8k_htm.xml (XML) — 5KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. On August 28, 2025, Avnet, Inc. (the "Company") and Avnet Holding Europe BV ("Avnet Europe") entered into (x) Amendment No. 1 to the Third Amended and Restated Credit Agreement, dated January 17, 2025 (the "Third Amended Credit Agreement"), among the Company, Avnet Europe, Bank of America, N.A., as the administrative agent, and the lenders party thereto (the "RCF Credit Amendment") and (y) Amendment No. 1 to the Credit Agreement, dated July 1, 2025 (the "Term Loan Credit Agreement" and together with the Third Amended Credit Agreement, the "Credit Agreements"), among Avnet Europe, Bank of America, N.A., as the administrative agent, and the lenders party thereto (the "TL Credit Amendment" and, together with the RCF Credit Amendment, the "Credit Amendments"). Under the terms of the Credit Amendments, among other things, the maximum consolidated leverage ratio (as defined in each Credit Agreement) was temporarily increased from 4.00 to 1.00 to (a) 5.00 to 1.00, commencing with the four fiscal quarter period ending on or around September 30, 2025 through (and including) the four fiscal quarter period ending on or around March 31, 2026; and (b) 4.50 to 1.00 for the four fiscal quarter period ending on or around June 30, 2026, before returning to 4.00 to 1.00 for the four fiscal quarter period ending on or around September 30, 2026 and thereafter. During the period from the date of the Credit Amendments until the maximum consolidated leverage ratio returns to 4.00 to 1.00 (the "Relief Period"), the Company and its subsidiaries are prohibited from making certain restricted payments under each Credit Agreement, but (i) the Company may continue to declare and pay cash dividends consistent with the ordinary course of business prior to the Credit Amendments, as long as it does not increase the amount or frequency of such cash dividends during the Relief Period and (ii) the Company may repurchase up to an aggregate of $10
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. The following materials are attached as exhibits to this Current Report on Form 8-K: Exhibit Number Description 10.1 Amendment No. 1, dated as of August 28, 2025, to the Third Amended and Restated Credit Agreement dated January 17, 2025. 10.2 Amendment No. 1, dated as of August 28, 2025, to the Credit Agreement dated July 1, 2025. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 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. Date: August 28, 2025 AVNET, INC. By: /s/ Kenneth A. Jacobson Name: Kenneth A. Jacobson Title: Chief Financial Officer