Hamilton Beach Brands Holding Co. Files 8-K

TL;DR

HBB filed an 8-K on 12/13/24 for a material agreement & financial obligation.

AI Summary

Hamilton Beach Brands Holding Company entered into a material definitive agreement on December 13, 2024. This filing also indicates the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement for the registrant. Specific details of the agreement and financial obligations are not provided in this summary.

Why It Matters

This 8-K filing signals a significant event for Hamilton Beach Brands Holding Co., potentially involving new financial commitments or agreements that could impact its financial standing and future operations.

Risk Assessment

Risk Level: medium — The filing indicates a material definitive agreement and a financial obligation, which could introduce new risks or opportunities that are not yet fully detailed.

Key Players & Entities

• Hamilton Beach Brands Holding Company (company) — Registrant
• December 13, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.01 — stered Class A Common Stock, Par Value $0.01 Per Share HBB New York Stock Exchange
• $125,000,000 — y") in an aggregate principal amount of $125,000,000 and includes a $5,000,000 subfacility f
• $5,000,000 — l amount of $125,000,000 and includes a $5,000,000 subfacility for the issuance of letters
• $15,000,000 — d in the Credit Agreement) is less than $15,000,000 at any time, the Credit Agreement will

Filing Documents

• hbb-20241213.htm (8-K) — 36KB
• exhibit101agreement.htm (EX-10.1) — 784KB
• 0001709164-24-000055.txt ( ) — 1074KB
• hbb-20241213.xsd (EX-101.SCH) — 2KB
• hbb-20241213_lab.xml (EX-101.LAB) — 21KB
• hbb-20241213_pre.xml (EX-101.PRE) — 12KB
• hbb-20241213_htm.xml (XML) — 3KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement On December 13, 2024, Hamilton Beach Brands, Inc. ("HBB"), as borrower, entered into the Second Amended and Restated Credit Agreement (the "Credit Agreement") with Wells Fargo Bank, National Association ("Wells Fargo"), as lender. The Credit Agreement amends and restates HBB's existing Amended and Restated Credit Agreement, dated as of May 31, 2012, as amended, among HBB, certain subsidiaries of HBB from time to time party thereto, the lenders from time to time party thereto and Wells Fargo, as administrative agent. The Credit Agreement provides for a senior secured asset-based revolving credit facility (the "Revolving Credit Facility") in an aggregate principal amount of $125,000,000 and includes a $5,000,000 subfacility for the issuance of letters of credit. The obligations under the Revolving Credit Facility are secured by substantially all of the assets of HBB. Interest on outstanding loans under the Revolving Credit Facility accrues at a per annum rate equal to, at HBB's option, either Term SOFR (as defined in the Credit Agreement) plus 1.65% or the Base Rate (as defined in the Credit Agreement) plus 0.00%. The Credit Agreement contains customary representations and warranties, events of default and covenants, including, among other things, covenants applicable to HBB and its subsidiaries limiting indebtedness, liens, investments, dispositions and restricted payments. Additionally, if Excess Availability (as defined in the Credit Agreement) is less than $15,000,000 at any time, the Credit Agreement will require that HBB maintain a Fixed Charge Coverage Ratio (as defined in the Credit Agreement) of 1.00 to 1.00 until Excess Availability is greater than or equal to $15,000,000 for 30 consecutive days. The Revolving Credit Facility matures on the earlier of December 13, 2029, the date of acceleration pursuant to its terms, or the date the commitments thereunder are terminated pursuant to the terms there

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit No. Exhibit Description 10.1 Second Amended and Restated Credit Agreement, dated as of December 13, 2024, between Hamilton Beach Brands, Inc., as borrower, and Wells Fargo Bank, National Association, as lender. 104 Cover Page Interactive Data File (formatted as Inline XBRL)

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. Date: December 17, 2024 HAMILTON BEACH BRANDS HOLDING COMPANY By: /s/ Sally M. Cunningham Name: Sally M. Cunningham Title: Senior Vice President, Chief Financial Officer and Treasurer

View Full Filing

View this 8-K filing on SEC EDGAR