Gorman-Rupp Co. Files 8-K with Key Agreements and Asset Changes
Ticker: GRC · Form: 8-K · Filed: Jun 3, 2024 · CIK: 42682
| Field | Detail |
|---|---|
| Company | Gorman Rupp CO (GRC) |
| Form Type | 8-K |
| Filed Date | Jun 3, 2024 |
| Risk Level | medium |
| Pages | 6 |
| Reading Time | 8 min |
| Key Dollar Amounts | $370 million, $100 million, $30 m, $20 m, $30 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, asset-transaction, corporate-action
Related Tickers: GRC
TL;DR
GRC filed an 8-K detailing new deals, terminated contracts, and asset changes as of May 31st.
AI Summary
On May 31, 2024, The Gorman-Rupp Company entered into a material definitive agreement and also terminated a material definitive agreement. The company also completed the acquisition or disposition of assets. The filing does not specify the nature of these agreements or the assets involved.
Why It Matters
This 8-K filing indicates significant corporate actions by Gorman-Rupp, including new agreements, terminations, and asset transactions, which could impact its business operations and financial standing.
Risk Assessment
Risk Level: medium — The filing indicates material definitive agreements and asset transactions, which inherently carry business risks that are not fully detailed in this summary.
Key Players & Entities
- The Gorman-Rupp Company (company) — Registrant
- Ohio (location) — State of Incorporation
- May 31, 2024 (date) — Date of earliest event reported
FAQ
What was the nature of the material definitive agreement entered into by Gorman-Rupp?
The filing states that Gorman-Rupp entered into a material definitive agreement on May 31, 2024, but does not specify its nature.
What was the reason for terminating the material definitive agreement?
The filing reports the termination of a material definitive agreement as of May 31, 2024, but does not provide details on the reason for termination.
What specific assets were involved in the completion of acquisition or disposition?
The 8-K filing indicates the completion of acquisition or disposition of assets on May 31, 2024, but does not list the specific assets.
What is the principal executive office address for The Gorman-Rupp Company?
The principal executive offices of The Gorman-Rupp Company are located at 600 South Airport Road, Mansfield, Ohio 44903.
When was The Gorman-Rupp Company incorporated?
The Gorman-Rupp Company was incorporated in Ohio.
Filing Stats: 1,890 words · 8 min read · ~6 pages · Grade level 12 · Accepted 2024-06-03 16:58:49
Key Financial Figures
- $370 million — ity in an aggregate principal amount of $370 million (the " Senior Term Loan Facility "), a
- $100 million — an aggregate principal amount of up to $100 million (the " Credit Facility "), a letter of
- $30 m — the aggregate available amount of up to $30 million, as a sublimit of the Credit Faci
- $20 m — the aggregate available amount of up to $20 million, as a sublimit of the Credit Faci
- $30 million — the Note Agreement, the Company issued $30 million aggregate principal amount of 6.40% sen
- $91.8 m — ated Credit Agreement was approximately $91.8 million, which included a make-whole paym
- $1.8 million — d a make-whole payment of approximately $1.8 million. This amount satisfies all of the Compa
Filing Documents
- d799601d8k.htm (8-K) — 39KB
- d799601dex101.htm (EX-10.1) — 1063KB
- d799601dex102.htm (EX-10.2) — 1322KB
- d799601dex991.htm (EX-99.1) — 12KB
- g799601dsp007.jpg (GRAPHIC) — 8KB
- g799601dsp340.jpg (GRAPHIC) — 4KB
- g799601g0531201311545.jpg (GRAPHIC) — 21KB
- g799601g0531203221769.jpg (GRAPHIC) — 2KB
- 0001193125-24-153098.txt ( ) — 3032KB
- grc-20240531.xsd (EX-101.SCH) — 3KB
- grc-20240531_lab.xml (EX-101.LAB) — 17KB
- grc-20240531_pre.xml (EX-101.PRE) — 11KB
- d799601d8k_htm.xml (XML) — 3KB
Financial Statements and Exhibits
Financial Statements and Exhibits (d) Exhibits: Exhibit Number Exhibit Description 10.1 Amended and Restated Senior Secured Credit Agreement, dated as of May 31, 2024. 10.2 Note Agreement, dated as of May 31, 2024. 10.3 Form of 6.40% Senior Secured Note Due May 31, 2031 (included as Exhibit A to the Note Agreement filed herewith as Exhibit 10.2). 99.1 Press Release dated June 3, 2024. 104 Cover Page Interactive Data File (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. THE GORMAN-RUPP COMPANY By: /s/ Brigette A. Burnell Name: Brigette A. Burnell Title: Executive Vice President, General Counsel and Corporate Secretary Date: June 3, 2024