Crocs, Inc. Enters Material Definitive Agreement
Ticker: CROX · Form: 8-K · Filed: Dec 5, 2024 · CIK: 1334036
| Field | Detail |
|---|---|
| Company | Crocs, INC. (CROX) |
| Form Type | 8-K |
| Filed Date | Dec 5, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001, $250.0 million, $1.0 b, $400.0 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, financial-obligation
Related Tickers: CROX
TL;DR
Crocs just signed a big deal, new financial obligation incoming.
AI Summary
On December 4, 2024, Crocs, Inc. entered into a material definitive agreement, creating a direct financial obligation. The company, headquartered in Broomfield, Colorado, filed an 8-K report detailing this obligation. The filing was made on December 5, 2024.
Why It Matters
This filing indicates a significant new financial commitment or obligation for Crocs, Inc., which could impact its financial structure and future operations.
Risk Assessment
Risk Level: medium — Entering into material definitive agreements and creating financial obligations can introduce new risks related to the terms of the agreement and the company's ability to meet them.
Key Players & Entities
- Crocs, Inc. (company) — Registrant
- December 4, 2024 (date) — Date of earliest event reported
- December 5, 2024 (date) — Filing date
- Broomfield, Colorado (location) — Principal executive offices
FAQ
What type of material definitive agreement did Crocs, Inc. enter into?
The filing states that Crocs, Inc. entered into a material definitive agreement, but the specific details of the agreement are not provided in this summary.
What is the nature of the direct financial obligation created?
The filing indicates the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement, but the specific terms and amount are not detailed here.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on December 4, 2024.
What is the principal executive office address for Crocs, Inc.?
The principal executive offices of Crocs, Inc. are located at 500 Eldorado Blvd., Building 5, Broomfield, Colorado 80021.
What is the SEC file number for Crocs, Inc.?
The SEC file number for Crocs, Inc. is 000-51754.
Filing Stats: 702 words · 3 min read · ~2 pages · Grade level 9.8 · Accepted 2024-12-04 20:09:42
Key Financial Figures
- $0.001 — ch registered: Common Stock, par value $0.001 per share CROX The Nasdaq Global Select
- $250.0 million — mmitments under the Credit Agreement by $250.0 million to $1.0 billion, with the ability to in
- $1.0 b — e Credit Agreement by $250.0 million to $1.0 billion, with the ability to increase tot
- $400.0 million — otal commitments by up to an additional $400.0 million (subject to certain conditions). There
Filing Documents
- crox-20241204.htm (8-K) — 34KB
- sixthamendmentto2ndarcredi.htm (EX-99.1) — 1419KB
- 0001334036-24-000168.txt ( ) — 1829KB
- crox-20241204.xsd (EX-101.SCH) — 2KB
- crox-20241204_lab.xml (EX-101.LAB) — 21KB
- crox-20241204_pre.xml (EX-101.PRE) — 12KB
- crox-20241204_htm.xml (XML) — 3KB
01. Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement. On December 4, 2024, Crocs, Inc. (the "Company") and its subsidiaries, Crocs Retail, LLC, Jibbitz, Inc., Colorado Footwear C.V. and Crocs Europe B.V., as borrowers, and the guarantors named therein, entered into the Sixth Amendment to the Second Amended and Restated Credit Agreement (the "Sixth Amendment"), with the lenders party thereto, and PNC Bank, National Association, as administrative agent, which amended certain terms of the Second Amended and Restated Credit Agreement, dated July 26, 2019 (as amended, the "Credit Agreement"). The Credit Agreement provides for a senior revolving credit facility for the Company. Pursuant to the Sixth Amendment, the Credit Agreement was amended to, among other things, increase the total commitments under the Credit Agreement by $250.0 million to $1.0 billion, with the ability to increase total commitments by up to an additional $400.0 million (subject to certain conditions). There were no material changes to the financial covenants or the interest rates on outstanding borrowings under the Credit Agreement. The foregoing summary of the Sixth Amendment does not purport to be complete and is subject to and is qualified in its entirety by the terms of the Sixth Amendment, which is attached hereto 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 of this Current Report on Form 8-K is incorporated herein by reference.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1 * Sixth Amendment to Second Amended and Restated Credit Agreement, dated December 4, 2024, by and among Crocs, Inc., Crocs Retail, LLC, Jibbitz, Inc., Colorado Footwear C.V., Crocs Europe B.V., the guarantors named therein, the lenders named therein, and PNC Bank, National Association, as administrative agent. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). * Certain schedules and exhibits have been omitted pursuant to Item 601(a)(5) of Regulation S-K. The Company hereby undertakes to supplementally furnish copies of any omitted schedules and exhibits to the Securities and Exchange Commission upon request.
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. CROCS, INC. Date: December 5, 2024 By: /s/ Sara Hoverstock Sara Hoverstock Senior Vice President, General Counsel 2