AMREP CORP. Enters Material Definitive Agreement
Ticker: AXR · Form: 8-K · Filed: Aug 19, 2025 · CIK: 6207
| Field | Detail |
|---|---|
| Company | Amrep CORP. (AXR) |
| Form Type | 8-K |
| Filed Date | Aug 19, 2025 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $5,750,000, $750,000, $6,500,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, financial-obligation
TL;DR
AMREP just signed a big deal, could be good or bad.
AI Summary
AMREP CORP. entered into a material definitive agreement on August 15, 2025. The company, incorporated in Oklahoma, is a land subdivider and developer. The filing indicates the creation of a direct financial obligation or an off-balance sheet arrangement.
Why It Matters
This filing signals a significant new contract or financial commitment for AMREP CORP., potentially impacting its future operations and financial standing.
Risk Assessment
Risk Level: medium — Entering into material definitive agreements can introduce new financial obligations or strategic shifts, carrying inherent risks.
Key Players & Entities
- AMREP CORP. (company) — Registrant
- August 15, 2025 (date) — Date of earliest event reported
- Oklahoma (jurisdiction) — State of Incorporation
FAQ
What type of material definitive agreement did AMREP CORP. enter into?
The filing states that AMREP CORP. entered into a material definitive agreement, but the specific details of the agreement are not provided in this summary.
What is the significance of the 'Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement' item?
This indicates that the agreement likely involves new financial commitments or contingent liabilities for AMREP CORP. that may not be immediately reflected on its balance sheet.
When was the earliest event reported in this filing?
The earliest event reported was on August 15, 2025.
What industry does AMREP CORP. operate in?
AMREP CORP. operates in the Land Subdividers & Developers industry.
Where is AMREP CORP. incorporated?
AMREP CORP. is incorporated in Oklahoma.
Filing Stats: 789 words · 3 min read · ~3 pages · Grade level 11.4 · Accepted 2025-08-19 16:30:41
Key Financial Figures
- $5,750,000 — ion, in which BOKF agrees to lend up to $5,750,000 to ASW on a revolving line of credit ba
- $750,000 — nt available for borrowing increased by $750,000 to a new total maximum amount of $6,500
- $6,500,000 — 50,000 to a new total maximum amount of $6,500,000. ASW incurred customary costs and expen
Filing Documents
- tm2523860d1_8k.htm (8-K) — 30KB
- tm2523860d1_ex10-1.htm (EX-10.1) — 39KB
- tm2523860d1_ex10-2.htm (EX-10.2) — 36KB
- 0001104659-25-080281.txt ( ) — 288KB
- axr-20250815.xsd (EX-101.SCH) — 3KB
- axr-20250815_lab.xml (EX-101.LAB) — 33KB
- axr-20250815_pre.xml (EX-101.PRE) — 22KB
- tm2523860d1_8k_htm.xml (XML) — 4KB
01 Entry into a Material Definitive
Item 1.01 Entry into a Material Definitive Agreement. Reference is made to Note 6 to the consolidated financial statements contained in the Annual Report on Form 10-K of AMREP Corporation for the year ended April 30, 2025, which was filed with the Securities and Exchange Commission on July 25, 2025, regarding the Loan Agreement (the "Loan Agreement") entered into between BOKF, NA dba Bank of Albuquerque ("BOKF") and AMREP Southwest Inc. ("ASW"), a subsidiary of AMREP Corporation, in which BOKF agrees to lend up to $5,750,000 to ASW on a revolving line of credit basis for general corporate purposes. On August 15, 2025, ASW and BOKF entered into the Seventh Modification Agreement to the Loan Agreement and ASW entered into the Second Amended and Restated Revolving Line of Credit Promissory Note in favor of BOKF. These documents resulted in the following changes to the revolving line of credit financing facility: (1) the scheduled maturity date of the loan was changed to August 15, 2028 and (2) the maximum amount available for borrowing increased by $750,000 to a new total maximum amount of $6,500,000. ASW incurred customary costs and expenses and paid certain fees to BOKF in connection with the amendment of the revolving line of credit financing facility. The foregoing description of the loan documentation is a summary only and is qualified in all respects by the provisions of the loan documentation; copies of the Seventh Modification Agreement and Second Amended and Restated Revolving Line of Credit Promissory Note are attached hereto as Exhibits 10.1 and 10.2 and are incorporated herein by reference.
03 Creation of a Direct Financial Obligation
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03. Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 10.1 Seventh Modification Agreement, dated August 15, 2025, between BOKF, NA dba Bank of Albuquerque and AMREP Southwest Inc. 10.2 Second Amended and Restated Revolving Line of Credit Promissory Note, dated August 15, 2025, by AMREP Southwest Inc. in favor of BOKF, NA dba Bank of Albuquerque. 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. AMREP Corporation Date: August 19, 2025 By: /s/ Christopher V. Vitale Name: Christopher V. Vitale Title: President and Chief Executive Officer EXHIBIT INDEX Exhibit Number Description 10.1 Seventh Modification Agreement, dated August 15, 2025, between BOKF, NA dba Bank of Albuquerque and AMREP Southwest Inc. 10.2 Second Amended and Restated Revolving Line of Credit Promissory Note, dated August 15, 2025, by AMREP Southwest Inc. in favor of BOKF, NA dba Bank of Albuquerque. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).