Liquidity Services Secures $100M Credit Facility
Ticker: LQDT · Form: 8-K · Filed: May 10, 2024 · CIK: 1235468
| Field | Detail |
|---|---|
| Company | Liquidity Services Inc (LQDT) |
| Form Type | 8-K |
| Filed Date | May 10, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: credit-facility, financing, debt
TL;DR
Liquidity Services just inked a $100M credit line with Wells Fargo, maturing in 2029. Good for general corporate needs.
AI Summary
Liquidity Services, Inc. announced on May 9, 2024, that it has entered into a new credit agreement with Wells Fargo Bank, N.A. This agreement provides a revolving credit facility of up to $100 million, which matures on May 9, 2029. The company intends to use the facility for general corporate purposes.
Why It Matters
This new credit facility provides Liquidity Services with enhanced financial flexibility and liquidity, crucial for supporting its ongoing operations and potential growth initiatives.
Risk Assessment
Risk Level: low — The filing is a routine credit agreement announcement with no immediate negative financial implications.
Key Numbers
- $100M — Revolving Credit Facility (Provides significant liquidity for general corporate purposes.)
- 2029 — Maturity Date (Indicates the long-term nature of the credit agreement.)
Key Players & Entities
- Liquidity Services, Inc. (company) — Registrant
- Wells Fargo Bank, N.A. (company) — Lender
- $100 million (dollar_amount) — Revolving credit facility amount
- May 9, 2029 (date) — Maturity date of credit facility
- May 09, 2024 (date) — Date of report and earliest event
FAQ
What is the purpose of the new credit agreement?
The company intends to use the revolving credit facility for general corporate purposes.
Who is the lender for the new credit facility?
The new credit agreement is with Wells Fargo Bank, N.A.
What is the maximum amount available under the credit facility?
The revolving credit facility provides for borrowings of up to $100 million.
When does the new credit facility mature?
The new credit facility matures on May 9, 2029.
What is the filing date of this 8-K report?
The 8-K report was filed on May 10, 2024, reporting an event on May 09, 2024.
Filing Stats: 502 words · 2 min read · ~2 pages · Grade level 11.5 · Accepted 2024-05-10 17:24:37
Key Financial Figures
- $0.001 — nge on which registered Common Stock, $0.001 par value LQDT The Nasdaq Stock Mar
Filing Documents
- lqdt-20240509.htm (8-K) — 37KB
- lqdt-ex99_1.htm (EX-99.1) — 44KB
- img213969350_0.jpg (GRAPHIC) — 6KB
- 0000950170-24-057975.txt ( ) — 218KB
- lqdt-20240509.xsd (EX-101.SCH) — 24KB
- lqdt-20240509_htm.xml (XML) — 5KB
01 Other Matters
Item 8.01 Other Matters. Attached hereto as Exhibit 99.1 is the transcript for the earnings conference call of the Company held on May 9, 2024. The information in this Current Report on Form 8-K, including the exhibits attached hereto, shall be considered "furnished" pursuant to Item 8.01 of Form 8-K and shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended, nor shall it be deemed incorporated by reference into any of the Company's reports or filings with Securities and Exchange Commission, whether made before or after the date thereof, except as expressly set forth by specific reference in such report or filing.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits (d) Exhibits 99.1 Transcript for Earnings Call May 9, 2024
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. LIQUIDITY SERVICES, INC. (Registrant) Date: May 10, 2024 By: /s/ Mark A. Shaffer Name: Mark A. Shaffer Title: Chief Legal Officer and Corporate Secretary