Gates Industrial Corp plc Files 8-K

TL;DR

Gates Industrial filed an 8-K, likely with financial updates. Keep an eye out.

AI Summary

On May 22, 2024, Gates Industrial Corporation plc filed an 8-K report. The filing primarily concerns "Other Events" and "Financial Statements and Exhibits," indicating updates or disclosures related to the company's financial status and significant occurrences. No specific financial figures or new material events were detailed in the provided excerpt.

Why It Matters

This 8-K filing signals that Gates Industrial Corp plc has made a regulatory disclosure, potentially containing important updates for investors regarding financial statements or other material events.

Risk Assessment

Risk Level: low — The provided excerpt is a standard 8-K filing notification and does not contain specific material events or financial data that would indicate a change in risk.

Key Players & Entities

• Gates Industrial Corp plc (company) — Registrant
• May 22, 2024 (date) — Date of Earliest Event Reported
• England and Wales (jurisdiction) — State or Other Jurisdiction of Incorporation
• 001-38366 (identifier) — Commission File Number
• 98-1395184 (identifier) — IRS Employer Identification No.
• 1144 Fifteenth Street (address) — Address of Principal Executive Offices
• Denver (location) — City of Principal Executive Offices
• Colorado (location) — State of Principal Executive Offices
• 80202 (zip_code) — Zip Code of Principal Executive Offices
• 303-744-1911 (phone_number) — Registrant's Telephone Number

FAQ

Key Financial Figures

• $0.01 — e on which registered Ordinary Shares, $0.01 par value per share GTES New York Stock
• $500.0 million — "), providing for the offer and sale of $500.0 million in aggregate principal amount of the Is
• $568.0 million — edness, including the redemption of all $568.0 million in aggregate principal amount of its ou

Filing Documents

• gtes-20240522.htm (8-K) — 34KB
• bondofferinglaunchpressrel.htm (EX-99.1) — 9KB
• gatesbond2024-pricingpress.htm (EX-99.2) — 9KB
• image_0.jpg (GRAPHIC) — 64KB
• image_0a.jpg (GRAPHIC) — 38KB
• 0001718512-24-000045.txt ( ) — 323KB
• gtes-20240522.xsd (EX-101.SCH) — 2KB
• gtes-20240522_lab.xml (EX-101.LAB) — 21KB
• gtes-20240522_pre.xml (EX-101.PRE) — 12KB
• gtes-20240522_htm.xml (XML) — 3KB

01 Other Events

Item 8.01 Other Events. On May 22, 2024, Gates Corporation (the "Issuer"), an indirect subsidiary of Gates Industrial Corporation plc ("Gates"), entered into a purchase agreement (the "Purchase Agreement") by and among the Issuer, Gates Industrial Holdco Limited (the "Parent Guarantor"), the subsidiary guarantors named on the signature pages thereto and Goldman Sachs & Co. LLC, for itself and on behalf of the several initial purchasers named therein (the "Initial Purchasers"), providing for the offer and sale of $500.0 million in aggregate principal amount of the Issuer's 6.875% Senior Notes due 2029 (the "Notes") in a private offering to qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and to non-U.S. persons in transactions outside the United States in reliance on Regulation S under the Securities Act (collectively, the "Offering"). The Notes will be issued at 100.0% of their par value with a coupon of 6.875%. Interest on the Notes is payable semi-annually on January 1 and July 1 of each year commencing on January 1, 2025. The Notes will mature on July 1, 2029. The Offering is expected to close, subject to customary closing conditions, on June 4, 2024. The Purchase Agreement contains customary representations, warranties, conditions to closing, indemnification rights and obligations of the parties and termination provisions. Gates intends to use the net proceeds from the Offering, together with the proceeds of new term loans and cash on hand, to refinance certain indebtedness, including the redemption of all $568.0 million in aggregate principal amount of its outstanding 6.250% Senior Notes due 2026 (the "2026 Notes"). The redemption is conditioned on the closing of the Offering. Certain of the Initial Purchasers and/or their respective affiliates have in the past performed commercial banking, investment banking and advisory services for the Issuer and Gates from time to time for wh

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits Exhibits Exhibit No. Description 99.1 Press release dated May 22, 2024 99.2 Press release dated May 22, 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. GATES INDUSTRIAL CORPORATION PLC By: /s/ Brooks Mallard Name: Brooks Mallard Title: Chief Financial Officer Date: May 22, 2024

View Full Filing

View this 8-K filing on SEC EDGAR