IES Holdings Enters Material Definitive Agreement

Ticker: IESC · Form: 8-K · Filed: Jan 22, 2025 · CIK: 1048268

Ies Holdings, INC. 8-K Filing Summary
FieldDetail
CompanyIes Holdings, INC. (IESC)
Form Type8-K
Filed DateJan 22, 2025
Risk Levelmedium
Pages4
Reading Time5 min
Key Dollar Amounts$0.01, $150 million, $300 m
Sentimentneutral

Sentiment: neutral

Topics: material-agreement

Related Tickers: IESC

TL;DR

IESC signed a big deal, details TBD.

AI Summary

On January 21, 2025, IES Holdings, Inc. (IESC) entered into a material definitive agreement. The filing does not disclose specific details of the agreement, the counterparty, or any associated financial terms.

Why It Matters

This filing indicates a significant new contract or partnership for IES Holdings, which could impact its future business operations and financial performance.

Risk Assessment

Risk Level: medium — The lack of specific details in the filing regarding the material definitive agreement introduces uncertainty about its nature and potential impact.

Key Players & Entities

FAQ

What is the nature of the material definitive agreement entered into by IES Holdings, Inc.?

The filing states that IES Holdings, Inc. entered into a material definitive agreement on January 21, 2025, but does not provide specific details about its nature.

Who is the counterparty to the material definitive agreement?

The filing does not disclose the name of the other party involved in the material definitive agreement.

Are there any financial terms or obligations associated with this agreement?

The filing does not specify any financial terms or dollar amounts related to the material definitive agreement.

When did IES Holdings, Inc. enter into this material definitive agreement?

IES Holdings, Inc. entered into the material definitive agreement on January 21, 2025.

What is the purpose of this Form 8-K filing?

This Form 8-K filing is to report the entry into a material definitive agreement by IES Holdings, Inc. as per Item 1.01.

Filing Stats: 1,143 words · 5 min read · ~4 pages · Grade level 11.6 · Accepted 2025-01-22 07:51:18

Key Financial Figures

Filing Documents

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On January 21, 2025, IES Holdings, Inc. ("IES" or the "Company"), entered into the Fourth Amended and Restated Credit Agreement (the "Amended Credit Agreement"), by and among the Company and each of the other borrowers and guarantors named therein with Wells Fargo Bank, National Association, as administrative agent, swingline lender and issuing lender, Wells Fargo Securities LLC and Fifth Third Bank, National Association as joint lead arrangers and joint bookrunners and other financial institutions party thereto as lenders. Pursuant to the Amended Credit Agreement, the Company's maximum revolver amount increased from $150 million to $300 million, and the maturity date of the revolving credit facility was extended from September 30, 2026 to January 21, 2030. The Amended Credit Agreement also represents a transition of the Company's financing arrangements from an asset-based credit facility, where borrowings were limited by eligible collateral, to a cash flow-based credit facility with financial ratio covenants, increasing the Company's borrowing capacity. Under the Amended Credit Agreement, the Company is subject to certain financial covenants including a maximum Consolidated Total Leverage Ratio (as defined in the Amended Credit Agreement) of 3.00 to 1.00 and a minimum Consolidated Interest Coverage Ratio (as defined in the Amended Credit Agreement) of 3.00 to 1.00. Amounts borrowed under the Amended Credit Agreement bear interest, at the Company's option, at a rate equal to either (1) the Base Rate (which is the greater of the Federal Funds Rate (as defined in the Amended Credit Agreement) and the Prime Rate (as defined in the Amended Credit Agreement), plus an applicable margin ranging from 0.50% to 1.25%; (2) the Daily Simple SOFR (as defined in the Amended Credit Agreement) plus an applicable margin ranging from 1.50% to 2.25% and (3) Term SOFR (as defined in the Amended Credit Agreement) plus an applic

03 Creation of a Direct Financial Obligation

Item 2.03 Creation of a Direct Financial Obligation. The information set forth under Item 1.01 above is hereby incorporated by reference into this Item 2.03.

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. On January 22, 2025, the Company issued a press release announcing its entry into the Amended Credit Agreement, as more fully described in Item 1.01 above. The information in this Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1 furnished herewith, is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Exchange Act of 1934, or otherwise subject to the liabilities of Section 18, and shall not be incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act of 1934, except as set forth by specific reference in such filing. (d) Exhibits. Exhibit Number Description 10.1 — Fourth Amended and Restated Credit Agreement by and among the Company and each of the other borrowers and guarantors named therein with Wells Fargo Bank, National Association, as administrative agent, swingline lender and issuing lender, Wells Fargo Securities LLC and Fifth Third Bank, National Association as joint lead arrangers and joint bookrunners and other financial institutions party thereto as lenders. 99.1 — Press release dated January 2 2 , 2025. 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. IES HOLDINGS, INC. Date: January 22, 2025 By: /s/ Mary K. Newman Name: Mary K. Newman Title: General Counsel and Corporate Secretary

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