Good Times Restaurants Inc. Enters Material Agreement

TL;DR

GTIM signed a big deal, new debt/obligation incoming.

AI Summary

Good Times Restaurants Inc. entered into a material definitive agreement on May 22, 2024, which also created a direct financial obligation for the registrant. The filing details this agreement and related financial obligations, with further information provided in the accompanying exhibits.

Why It Matters

This filing indicates a significant new financial commitment or partnership for Good Times Restaurants Inc., which could impact its future operations and financial standing.

Risk Assessment

Risk Level: medium — Entering into material definitive agreements and new financial obligations can introduce financial risks and operational changes that may affect the company's performance.

Key Players & Entities

• Good Times Restaurants Inc. (company) — Registrant
• May 22, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.001 — on which registered Common Stock , $0.001 par value GTIM Nasdaq Capital Market

Filing Documents

• gtim20240528_8k.htm (8-K) — 34KB
• ex_680385.htm (EX-10.1) — 46KB
• ex_680231.htm (EX-99.1) — 5KB
• gtim20240528_8kimg001.jpg (GRAPHIC) — 3KB
• sig01.jpg (GRAPHIC) — 3KB
• 0001437749-24-018545.txt ( ) — 244KB
• gtim-20240522.xsd (EX-101.SCH) — 3KB
• gtim-20240522_def.xml (EX-101.DEF) — 11KB
• gtim-20240522_lab.xml (EX-101.LAB) — 15KB
• gtim-20240522_pre.xml (EX-101.PRE) — 11KB
• gtim20240528_8k_htm.xml (XML) — 3KB

01. Entry Into a Material Definitive Agreement

Item 1.01. Entry Into a Material Definitive Agreement. Credit Agreement Amendment On May 22, 2024, the " Company " and each of its wholly owned subsidiaries, as guarantors, entered into a First Amendment to Credit Agreement (the "Amendment") with respect to the Company's Amended and Restated Credit Agreement with Cadence Bank, N.A., as lender, entered into on April 20, 2023, the "Credit Agreement"). The Amendment, among other things, amends the Credit Agreement to consent to the Company's purchase of the assets of the Good Times Drive Thru restaurant from JGN Management, LLC. a franchisee ("Seller") and to allow for certain seller financing associated with the acquisition. The foregoing description of the Amendment is qualified in its entirety by reference to the full text of the Amendment, a copy of which is filed as Exhibit 10.1 to this current report on Form 8-K and is incorporated by reference herein. In connection with the acquisition, the Company issued a press release on May 29, 2024, which is filed as Exhibit 99.1 to this Current Report on Form 8-K and is 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 contained in Item 1.01 regarding the Amendment is incorporated by reference herein.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Number Description 10.1* First Amendment to Credit Agreement dated May 22, 2024 by and among Good Times Restaurants Inc., each of its wholly owned subsidiaries and Cadence Bank, N.A. 10.2 Amended and Restated Credit Agreement dated April 20, 2023, by and among Good Times Restaurants Inc., each of its wholly owned subsidiaries and Cadence Bank, N.A. (previously filed as Exhibit 10.1 to the registrant's f Current Report on Form 8-K filed April 26, 2023 and incorporated herein by reference) 99.1* Press Release dated May 29, 2024 Exhibit 104 Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101). *Filed herewith

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. GOOD TIMES RESTAURANTS INC. Date: May 29, 2024 By: Ryan M. Zink President and Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR