Columbus McKinnon Enters Material Definitive Agreement

TL;DR

CMCO signed a big deal, could mean new debt or obligations.

AI Summary

Columbus McKinnon Corporation entered into a Material Definitive Agreement on March 18, 2024, related to a direct financial obligation or an off-balance sheet arrangement. The filing also includes Regulation FD Disclosure and Financial Statements and Exhibits.

Why It Matters

This filing indicates a significant new financial commitment or arrangement for Columbus McKinnon, which could impact its financial obligations and future operations.

Risk Assessment

Risk Level: medium — Entering into material definitive agreements can introduce new financial obligations or strategic shifts that carry inherent risks.

Key Players & Entities

• COLUMBUS MCKINNON CORPORATION (company) — Registrant
• 001-34362 (company) — SEC File Number
• 16-0547600 (company) — IRS Employer Identification No.
• March 18, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value per share CMCO Nasdaq Global

Filing Documents

• cmco-20240318.htm (8-K) — 34KB
• columbusmckinnon-fourtha.htm (EX-10.1) — 41KB
• exhibit991termloanrepricin.htm (EX-99.1) — 12KB
• columbusmckinnon-fourtha001.jpg (GRAPHIC) — 275KB
• columbusmckinnon-fourtha002.jpg (GRAPHIC) — 217KB
• columbusmckinnon-fourtha003.jpg (GRAPHIC) — 266KB
• columbusmckinnon-fourtha004.jpg (GRAPHIC) — 267KB
• columbusmckinnon-fourtha005.jpg (GRAPHIC) — 267KB
• columbusmckinnon-fourtha006.jpg (GRAPHIC) — 250KB
• columbusmckinnon-fourtha007.jpg (GRAPHIC) — 281KB
• columbusmckinnon-fourtha008.jpg (GRAPHIC) — 227KB
• columbusmckinnon-fourtha009.jpg (GRAPHIC) — 66KB
• columbusmckinnon-fourtha010.jpg (GRAPHIC) — 34KB
• columbusmckinnon-fourtha011.jpg (GRAPHIC) — 224KB
• columbusmckinnon-fourtha012.jpg (GRAPHIC) — 66KB
• columbusmckinnon-fourtha013.jpg (GRAPHIC) — 76KB
• columbusmckinnon-fourtha014.jpg (GRAPHIC) — 179KB
• columbusmckinnon-fourtha015.jpg (GRAPHIC) — 165KB
• imagea.jpg (GRAPHIC) — 26KB
• 0001005229-24-000058.txt ( ) — 4229KB
• cmco-20240318.xsd (EX-101.SCH) — 2KB
• cmco-20240318_def.xml (EX-101.DEF) — 14KB
• cmco-20240318_lab.xml (EX-101.LAB) — 25KB
• cmco-20240318_pre.xml (EX-101.PRE) — 15KB
• cmco-20240318_htm.xml (XML) — 3KB

01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT

Item 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT. On March 18, 2024, Columbus McKinnon Corporation (the "Company") entered into a Fourth Amendment (the "Fourth Amendment") to the Amended and Restated Credit Agreement, dated as of May 14, 2021, by and among the Company, Columbus McKinnon EMEA GmbH, the lenders from time to time party thereto, JPMorgan Chase Bank, N.A., as administrative agent, and the other agents parties thereto, as amended (the "Credit Agreement"). The Fourth Amendment reduces the interest rate margin applicable to the term loan B outstanding under the Credit Agreement (the "Term Loan B") by 25 basis points for both term SOFR borrowings and base rate borrowings. After giving effect to the repricing, the applicable interest rate margins for the Term Loan B are 2.50% for term SOFR borrowings and 1.50% for base rate borrowings. In addition, pursuant to the Fourth Amendment, the term SOFR credit spread adjustments, in respect of the Term Loan B, that were previously 0.11448% per annum for an interest period of one month, 0.26161% per annum for an interest period of three months, or 0.42826% per annum for an interest period of six months, were removed. The foregoing description of the Fourth Amendment is not complete and is qualified in its entirety by reference to the Fourth Amendment, which is included as Exhibit 10.1 to this Current Report on Form 8-K 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 under "Item 1.01 Entry into a Material Definitive Agreement" of this Current Report on Form 8-K with respect to the entry into a Rights Agreement Amendment is incorporated herein by reference.

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. A copy of the press release announcing the repricing of the Term Loan B is attached as Exhibit 99.1 to this Current Report on Form 8-K.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. EXHIBIT NUMBER DESCRIPTION 10.1 Fourth Amendment, dated as of March 18, 2024, by and among Columbus McKinnon Corporation, Columbus McKinnon EMEA GmbH, and JPMorgan Chase Bank, N.A., as administrative agent. 99.1 Press Release dated March 19, 2024 104 Cover Page Interactive Data File (the cover page XBRL tags are 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. COLUMBUS McKINNON CORPORATION By: /s/ Gregory P. Rustowicz Name: Gregory P. Rustowicz Title: Executive Vice President - Finance and Chief Financial Officer (Principal Financial Officer) Dated: March 19, 2024

View Full Filing

View this 8-K filing on SEC EDGAR