Clearwater Paper Corp Files 8-K on Asset Deal & Financial Obligations
Ticker: CLW · Form: 8-K · Filed: May 1, 2024 · CIK: 1441236
Sentiment: neutral
Topics: acquisition, debt, material-agreement
TL;DR
Clearwater Paper inked a big deal, got new debt, and filed an 8-K. Watch this space.
AI Summary
On May 1, 2024, Clearwater Paper Corporation entered into a Material Definitive Agreement related to the completion of an acquisition or disposition of assets. The company also incurred a direct financial obligation or an obligation under an off-balance sheet arrangement. Specific details regarding the agreement, acquisition/disposition, and financial obligations are provided within the filing.
Why It Matters
This filing indicates significant corporate activity for Clearwater Paper, including asset transactions and new financial commitments, which could impact its future financial performance and strategic direction.
Risk Assessment
Risk Level: medium — The filing details material definitive agreements and financial obligations, which inherently carry risks related to execution, financing, and market impact.
Key Players & Entities
- Clearwater Paper Corporation (company) — Registrant
- May 1, 2024 (date) — Date of earliest event reported
FAQ
What type of Material Definitive Agreement did Clearwater Paper Corporation enter into?
The filing indicates that Clearwater Paper Corporation entered into a Material Definitive Agreement related to the completion of an acquisition or disposition of assets.
What other significant financial event is reported in this 8-K filing?
The filing also reports the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement of the registrant.
What is the date of the earliest event reported in this 8-K filing?
The date of the earliest event reported is May 1, 2024.
Under which section of the Securities Exchange Act is this report filed?
This report is filed pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
What is the state of incorporation for Clearwater Paper Corporation?
Clearwater Paper Corporation is incorporated in Delaware.
Filing Stats: 2,470 words · 10 min read · ~8 pages · Grade level 14 · Accepted 2024-05-01 17:26:05
Key Financial Figures
- $0.0001 — ich registered Common Stock, par value $0.0001 per share CLW New York Stock Exchan
- $270 million — volver loan commitment in the amount of $270 million (the "Term Revolver Facility"), $150 mi
- $150 million — million (the "Term Revolver Facility"), $150 million of which was disbursed on October 27, 2
- $120 million — h was disbursed on October 27, 2023 and $120 million of which was drawn after giving effect
- $400 million — a term loan commitment in the amount of $400 million (the "Farm Credit Term Loan Facility"),
- $90 million — a term loan commitment in the amount of $90 million (the "Commercial Bank Term Loan Facilit
- $60 m — an aggregate principal amount of up to $60 million, subject to obtaining commitments
- $50 million — ncipal amount of such senior notes plus $50 million is less than the sum of the Company's a
- $2.0 million — of the Farm Credit Term Loan Facility, $2.0 million on each such payment date and (ii) in t
- $562.5 thousand — oan Facility, in an amount equal to (x) $562.5 thousand for any such payment date occurring on
- $1.125 million — st anniversary of the Closing Date, (y) $1.125 million for any such payment date occurring aft
- $1.6875 million — anniversary of the Closing Date and (z) $1.6875 million for any such payment date occurring aft
- $200 million — indebtedness being reduced by at least $200 million) the Company must 2 maintain the fo
- $275 million — ABL Credit Agreement was increased from $275 million to $375 million, $120 million of which
- $375 m — ment was increased from $275 million to $375 million, $120 million of which was outsta
Filing Documents
- d459717d8k.htm (8-K) — 40KB
- d459717dex101.htm (EX-10.1) — 763KB
- d459717dex102.htm (EX-10.2) — 1050KB
- 0001193125-24-127658.txt ( ) — 2417KB
- clw-20240501.xsd (EX-101.SCH) — 3KB
- clw-20240501_lab.xml (EX-101.LAB) — 18KB
- clw-20240501_pre.xml (EX-101.PRE) — 11KB
- d459717d8k_htm.xml (XML) — 4KB
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. Date: May 1, 2024 CLEARWATER PAPER CORPORATION By: /s/ Michael S. Gadd Michael S. Gadd, Corporate Secretary 5