Generac Holdings Inc. Files 8-K for Material Agreement

TL;DR

GNRC signed a big deal, filing details today.

AI Summary

On July 3, 2024, Generac Holdings Inc. (GNRC) entered into a material definitive agreement, the details of which are not fully disclosed in this filing. The company also filed financial statements and exhibits related to this event. The filing was made on July 5, 2024.

Why It Matters

This 8-K filing indicates a significant new agreement for Generac Holdings Inc., which could impact its future operations and financial performance.

Risk Assessment

Risk Level: medium — The filing indicates a material definitive agreement, which could carry significant implications for the company, but the specific nature and terms are not yet fully detailed.

Key Players & Entities

• Generac Holdings Inc. (company) — Registrant
• GNRC (company) — Trading Symbol
• July 3, 2024 (date) — Date of earliest event reported
• July 5, 2024 (date) — Filing Date
• New York Stock Exchange (company) — Exchange where Common Stock is registered

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock , $0.01 par value GNRC New York Stock Excha
• $30 million — m Loan") that, after giving effect to a $30 million cash payment made in connection with th
• $500 million — gregate outstanding principal amount of $500 million on the closing date; Establishes a mat

Filing Documents

• gnrc20240703_8k.htm (8-K) — 30KB
• ex_695365.htm (EX-10.1) — 148KB
• 0001437749-24-022233.txt ( ) — 329KB
• gnrc-20240703.xsd (EX-101.SCH) — 3KB
• gnrc-20240703_def.xml (EX-101.DEF) — 11KB
• gnrc-20240703_lab.xml (EX-101.LAB) — 15KB
• gnrc-20240703_pre.xml (EX-101.PRE) — 11KB
• gnrc20240703_8k_htm.xml (XML) — 3KB

01

Item 1.01 Entry into a Material Definitive Agreement Amendment of Term Loan B Credit Facility On July 3, 2024, Generac Holdings, Inc. and its wholly owned subsidiaries, Generac Acquisition Corp. and Generac Power Systems, Inc., amended that certain Credit Agreement, dated as of February 9, 2012 (as amended and/or restated, supplemented, or otherwise modified from time to time, the "Credit Agreement") (such amendment, the "2024 Term Loan Amendment") among a syndicate of lenders and JPMorgan Chase Bank, N.A. acting as administrative agent for the lenders. Among other things, the 2024 Term Loan Amendment: Amends and replaces the existing term loan B credit facility with a new term loan B credit facility (the "2024 New Term Loan") that, after giving effect to a $30 million cash payment made in connection with the closing of the 2024 Term Loan Amendment, has an aggregate outstanding principal amount of $500 million on the closing date; Establishes a maturity date for the 2024 New Term Loan of July 3, 2031; and Eliminates a credit spread adjustment in the existing term loan B credit facility that was associated with the transition from LIBOR to SOFR as the benchmark rate for the credit agreement. A copy of the 2024 Term Loan Amendment is being filed as Exhibit 10.1 and is incorporated by reference. The foregoing summary does not purport to be complete and is qualified in its entirety by reference to such exhibit.

Financial Statements and Exhibits

Financial Statements and Exhibits (d) Exhibits Exhibit No. Description 10.1 2024 Replacement Term Loan Amendment, dated as of July 3, 2024, to that certain Credit Agreement, to that certain Credit Agreement, dated as of February 9, 2012, as amended and restated as of May 30, 2012, as further amended and restated as of May 31, 2013, as amended by the First Amendment dated as of May 18, 2015, as amended by the Replacement Term Loan Amendment dated as of November 2, 2016, as amended by the 2017 Replacement Term Loan Amendment dated as of May 11, 2017, as amended by the 2017-2 Replacement Term Loan Amendment dated as of December 8, 2017, as amended by the 2018 Replacement Term Loan Amendment dated as of June 8, 2018, as amended by the 2019 Replacement Term Loan Amendment dated as of December 13, 2019, as amended by the Second Amendment dated as of May 27, 2021, as amended and restated by the Third Amendment dated as of June 29, 2022 and as amended by the First Amendment dated as of January 31, 2023, among Generac Acquisition Corp., Generac Power Systems, Inc., several lenders, and JPMorgan Chase Bank, N.A., as administrative agent. 104 Cover Page Interactive Data File (embedded within the inline XBRL document) 2

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. GENERAC HOLDINGS INC. /s/ Raj Kanuru Name: Raj Kanuru Date: July 5, 2024 Title: EVP, General Counsel & Secretary 3

View Full Filing

View this 8-K filing on SEC EDGAR