Brady Corp. Enters Material Definitive Agreement

TL;DR

Brady Corp. just signed a big deal creating a new financial obligation.

AI Summary

On October 10, 2024, Brady Corp. entered into a material definitive agreement, creating a direct financial obligation. The company, incorporated in Wisconsin with IRS number 390178960, filed this 8-K report on October 11, 2024. The filing pertains to a financial obligation and includes exhibits.

Why It Matters

This filing indicates Brady Corp. has entered into a significant agreement that creates a direct financial obligation for the company, which could impact its financial standing.

Risk Assessment

Risk Level: medium — Entering into material definitive agreements and creating financial obligations can introduce financial risks and impact the company's balance sheet.

Key Numbers

• 001-14959 — SEC File Number (Identifies the specific SEC filing for Brady Corp.)
• 39-0178960 — IRS Employer Identification No. (Tax identification number for Brady Corp.)

Key Players & Entities

• Brady Corp. (company) — Registrant
• Wisconsin (location) — State of incorporation
• 390178960 (organization_id) — IRS Employer Identification No.
• October 10, 2024 (date) — Date of earliest event reported
• October 11, 2024 (date) — Filing date

FAQ

Key Financial Figures

• $0.01 — ass A Nonvoting Common Stock, par value $0.01 per share BRC New York Stock Exchange

Filing Documents

• brc-20241010.htm (8-K) — 30KB
• exhibit101creditagreementa.htm (EX-10.1) — 1523KB
• 0000746598-24-000132.txt ( ) — 1904KB
• brc-20241010.xsd (EX-101.SCH) — 2KB
• brc-20241010_lab.xml (EX-101.LAB) — 21KB
• brc-20241010_pre.xml (EX-101.PRE) — 12KB
• brc-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, Brady Corporation (the "Company") and certain of its subsidiaries entered into a Third Amendment to Credit Agreement ("Amendment No. 3") with the lenders listed therein and BMO Bank N.A., as administrative agent, which amends that certain Credit Agreement, dated as of August 1, 2019, by and among the Company, certain of the Company's subsidiaries, the lenders from time to time party thereto, the letter of credit issuers from time to time party thereto and BMO Bank N.A., as administrative agent (as amended by a First Amendment to Credit Agreement dated as of December 21, 2021, and as further amended by a Second Amendment to Credit Agreement dated as of November 14, 2022, the "Credit Agreement"). Amendment No. 3 amends the Credit Agreement to, among other things, change the applicable benchmark under the Credit Agreement for borrowings denominated in Canadian Dollars from the CDOR Rate to the adjusted Term CORRA Rate. The foregoing description of Amendment No. 3 does not purport to be complete and is qualified in its entirety by reference to the full text of Amendment No. 3, a copy of which is filed as Exhibit 10.1 to this report and is 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 above under Item 1.01 is incorporated herein by reference.

01 FINANCIAL STATEMENTS AND EXHIBITS

Item 9.01 FINANCIAL STATEMENTS AND EXHIBITS (d) Exhibits EXHIBIT NUMBER DESCRIPTION 10.1 Third Amendment to Credit Agreement, dated as of October 10, 2024, by and among Brady Corporation and certain of its subsidiaries, the lenders listed therein and BMO Bank N.A., as administrative agent. 104 Cover Page Interactive Data File (embedded within 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. BRADY CORPORATION Date: October 11, 2024 /s/ ANN E. THORNTON Ann E. Thornton Chief Financial Officer, Chief Accounting Officer and Treasurer

View Full Filing

View this 8-K filing on SEC EDGAR