AZZ Inc. Files 8-K on Material Agreement & Financial Obligation
Ticker: AZZ · Form: 8-K · Filed: Sep 24, 2024 · CIK: 8947
| Field | Detail |
|---|---|
| Company | Azz INC (AZZ) |
| Form Type | 8-K |
| Filed Date | Sep 24, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, financial-obligation, 8-k
TL;DR
AZZ Inc. just signed a big deal and took on debt. Keep an eye on this.
AI Summary
On September 24, 2024, AZZ Inc. filed an 8-K report detailing a material definitive agreement and a direct financial obligation. The company, incorporated in Texas with IRS number 750948250, is headquartered in Fort Worth, Texas.
Why It Matters
This filing indicates AZZ Inc. has entered into a significant agreement and incurred a financial obligation, which could impact its financial standing and future operations.
Risk Assessment
Risk Level: medium — Entering into material definitive agreements and financial obligations can introduce financial risks and operational changes that warrant close monitoring.
Key Numbers
- 1-12777 — SEC File Number (Identifies AZZ Inc.'s filing with the SEC.)
- 75-0948250 — IRS Employer Identification No. (Tax identification number for AZZ Inc.)
Key Players & Entities
- AZZ Inc. (company) — Registrant
- Texas (location) — State of incorporation
- 750948250 (identifier) — IRS Number
- Fort Worth, Texas (location) — Principal executive offices
- September 24, 2024 (date) — Date of Report
FAQ
What is the nature of the material definitive agreement entered into by AZZ Inc.?
The filing indicates an 'Entry into a Material Definitive Agreement' as an item information, but the specific details of the agreement are not provided in this excerpt.
What type of direct financial obligation has AZZ Inc. undertaken?
The filing lists 'Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant,' but the specifics of the obligation are not detailed in this summary.
When was the earliest event reported in this 8-K filing?
The earliest event reported is dated September 24, 2024.
What is AZZ Inc.'s principal executive office address?
AZZ Inc.'s principal executive offices are located at One Museum Place, Suite 500, 3100 West 7th Street, Fort Worth, Texas 76107.
What is AZZ Inc.'s fiscal year end?
AZZ Inc.'s fiscal year ends on February 28.
Filing Stats: 709 words · 3 min read · ~2 pages · Grade level 9.6 · Accepted 2024-09-24 16:37:34
Filing Documents
- azz-20240924.htm (8-K) — 33KB
- fourthamendmenttocreditagr.htm (EX-10.1) — 62KB
- azzpr-tlb_refinancexfinal.htm (EX-99.1) — 10KB
- 0000008947-24-000205.txt ( ) — 250KB
- azz-20240924.xsd (EX-101.SCH) — 2KB
- azz-20240924_lab.xml (EX-101.LAB) — 23KB
- azz-20240924_pre.xml (EX-101.PRE) — 13KB
- azz-20240924_htm.xml (XML) — 3KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. Fourth Amendment to Credit Agreement On September 24, 2024, AZZ Inc. (the " Company ") entered into the Fourth Amendment to its existing Credit Agreement referenced below with Citibank, N.A. (" Citi "), as Administrative Agent and Collateral Agent and the requisite lenders (the " Fourth Amendment "). The Fourth Amendment amends the Credit Agreement dated as of May 13, 2022 by and among Citi, as Administrative Agent and Collateral Agent, the lenders party thereto from time to time and the Company's subsidiaries party thereto (as thereafter amended, the " Credit Agreement "). The Fourth Amendment reduces the interest rate of the Term Loan B by 75 basis points to Adjusted Term SOFR + 250 basis points from Adjusted Term SOFR + 325 basis points. The capitalized terms in the preceding sentence shall have the meanings given to such terms in the Credit Agreement. This is the third spread rate repricing the Company has completed with respect to the Term Loan B since the loan was entered into, resulting in interest rate margin savings of 185 basis points in total with respect to the Term Loan B since its issuance in May 2022. This summary of the Fourth Amendment does not purport to be complete and is subject to, and is qualified in its entirety by, reference to all the terms of the Fourth Amendment, a copy of which is attached to this Current Report on Form 8-K as Exhibit 10.1 and incorporated herein by reference. Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information set forth in Item 1.01 with respect to the Fourth Amendment is incorporated by reference in this Item 2.03.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit Description 10.1 Fourth Amendment to Credit Agreement, dated as of September 24, 2024, by and among AZZ Inc., the Guarantors, the Lenders, and Citibank, N.A., as Administrative Agent and Collateral Agent. 99.1 Press release issued by AZZ Inc., dated September 24 , 2024 . 104 Cover Page Interactive Date File (embedded with 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. AZZ Inc. Date: September 24, 2024 By: /s/ Tara D. Mackey Tara D. Mackey Chief Legal Officer and Secretary