Meritage Homes Enters Material Definitive Agreement
Ticker: MTH · Form: 8-K · Filed: Jun 13, 2024 · CIK: 833079
Sentiment: neutral
Topics: material-definitive-agreement, financial-obligation
Related Tickers: MTH
TL;DR
MTH inked a big deal, expect financial moves.
AI Summary
On June 12, 2024, Meritage Homes Corporation entered into a Material Definitive Agreement related to a direct financial obligation. The filing also includes financial statements and exhibits, with the report being filed as of June 13, 2024.
Why It Matters
This filing indicates a significant financial commitment or agreement for Meritage Homes, which could impact its financial obligations and future operations.
Risk Assessment
Risk Level: medium — Entering into material definitive agreements can introduce new financial obligations or strategic shifts that carry inherent risks.
Key Players & Entities
- Meritage Homes Corporation (company) — Registrant
- June 12, 2024 (date) — Date of earliest event reported
- June 13, 2024 (date) — Date of report filing
FAQ
What type of material definitive agreement did Meritage Homes Corporation enter into?
The filing states Meritage Homes Corporation entered into a Material Definitive Agreement, but the specific details of the agreement are not provided in this summary.
What is the significance of the 'Creation of a Direct Financial Obligation' item?
This indicates that the agreement entered into by Meritage Homes Corporation creates a direct financial obligation for the company.
When was the earliest event reported in this 8-K filing?
The earliest event reported was on June 12, 2024.
What is the filing date for this 8-K report?
The report was filed as of June 13, 2024.
What is Meritage Homes Corporation's state of incorporation?
Meritage Homes Corporation is incorporated in Maryland.
Filing Stats: 558 words · 2 min read · ~2 pages · Grade level 13.9 · Accepted 2024-06-12 19:47:02
Key Financial Figures
- $910.0 m — mendment increases the facility size to $910.0 million, amends the accordion feature to
- $1.365 b — it the facility size to be increased to $1.365 billion, subject to certain conditions, e
Filing Documents
- mth-20240612.htm (8-K) — 27KB
- ex101tenthamendment.htm (EX-10.1) — 1007KB
- 0000833079-24-000086.txt ( ) — 1327KB
- mth-20240612.xsd (EX-101.SCH) — 2KB
- mth-20240612_lab.xml (EX-101.LAB) — 22KB
- mth-20240612_pre.xml (EX-101.PRE) — 13KB
- mth-20240612_htm.xml (XML) — 3KB
01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT On June 12, 2024, Meritage Homes Corporation (the "Company") entered into the Tenth Amendment to Amended and Restated Credit Agreement (the "Tenth Amendment"), which amends that certain Amended and Restated Credit Agreement, dated as of June 13, 2014 (as amended, the "Credit Agreement"). Among other things, the Tenth Amendment increases the facility size to $910.0 million, amends the accordion feature to permit the facility size to be increased to $1.365 billion, subject to certain conditions, extends the maturity date from June 2, 2028 to June 12, 2029, and revises the applicable margin pricing grid. The foregoing description is qualified in its entirety by reference to the Tenth Amendment, a copy of which is filed as an exhibit to this Current Report on Form 8-K and is incorporated by reference herein. ITEM 2.03 CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT OF A REGISTRANT The information set forth above in Item 1.01 is incorporated by reference herein.
01 FINANCIAL STATEMENTS AND EXHIBITS
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS (d) Exhibits Exhibit Number Description 10.1 Tenth Amendment to Amended and Restated Credit Agreement 104 The cover page from this Current Report on Form 8-K, formatted in 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. Dated: June 13, 2024 MERITAGE HOMES CORPORATION /s/ Malissia Clinton By: Malissia Clinton Executive Vice President and General Counsel