NACCO INDUSTRIES Files 8-K for Material Agreement

TL;DR

NACCO just signed a big deal, filing an 8-K today.

AI Summary

NACCO INDUSTRIES, INC. filed an 8-K on September 19, 2024, reporting a material definitive agreement entered into on September 17, 2024. The filing also includes financial statements and exhibits. The company is incorporated in Delaware and headquartered in Cleveland, Ohio.

Why It Matters

This filing indicates a significant new agreement for NACCO INDUSTRIES, which could impact its future operations and financial performance.

Risk Assessment

Risk Level: medium — Material definitive agreements can introduce new risks or opportunities that may affect the company's stock price.

Key Numbers

• 1-09172 — Commission File Number (Identifies the company's SEC filing history.)
• 34-1505819 — IRS Employer Identification No. (Company's tax identification number.)

Key Players & Entities

• NACCO INDUSTRIES, INC. (company) — Registrant
• September 17, 2024 (date) — Date of earliest event reported
• September 19, 2024 (date) — Date of report
• Delaware (jurisdiction) — State of incorporation
• Cleveland, Ohio (location) — Principal executive offices

FAQ

Key Financial Figures

• $1 — which registered Class A Common Stock, $1 par value per share NC New York Stock E
• $200.0 million — olving credit commitments thereunder to $200.0 million and extending the maturity thereof to S

Filing Documents

• nacco-20240917.htm (8-K) — 33KB
• firstamendmenttoarcreditag.htm (EX-10.1) — 1868KB
• 0000789933-24-000050.txt ( ) — 2279KB
• nacco-20240917.xsd (EX-101.SCH) — 2KB
• nacco-20240917_lab.xml (EX-101.LAB) — 22KB
• nacco-20240917_pre.xml (EX-101.PRE) — 13KB
• nacco-20240917_htm.xml (XML) — 3KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On September 17, 2024, NACCO Natural Resources Corporation ("NNRC"), a wholly owned subsidiary of NACCO Industries, Inc., entered into the First Amendment to Amended and Restated Credit Agreement (the "First Amendment") among NNRC, as the borrower, certain subsidiaries of NNRC, as guarantors, the lenders party thereto and PNC Bank, National Association, as administrative agent. The First Amendment amends NNRC's existing Amended and Restated Credit Agreement, dated as of November 12, 2021 (as amended, the "Amended Credit Agreement"), for the purpose of, among other things, increasing the revolving credit commitments thereunder to $200.0 million and extending the maturity thereof to September 16, 2028. Borrowings under the Amended Credit Agreement bear interest at a per annum rate equal to (i) an applicable margin plus, (ii) at the option of NNRC, either Term SOFR or the Base Rate (each as defined in the Amended Credit Agreement). The applicable margin is based on NNRC's consolidated net debt to EBITDA ratio (the "Leverage Ratio") and ranges from 2.50% to 3.00% (or, in the case of Base Rate-based loans, 1.50% to 2.00%). In addition, NNRC is required to pay a commitment fee on the unused commitments under the Amended Credit Agreement, which is based on the Leverage Ratio and ranges from 0.40% to 0.50%. The Amended Credit Agreement contains restrictive covenants, which require, among other things, NNRC to maintain a Leverage Ratio of no greater than 2.75 to 1.00 and a consolidated interest coverage ratio of no less than 4.00 to 1.00. The obligations of NNRC under the Amended Credit Agreement are guaranteed by certain of NNRC's direct and indirect, existing and future domestic subsidiaries, and is secured by certain assets of NNRC and the guarantors, subject to customary exceptions and limitations. The foregoing summary of the First Amendment is qualified in its entirety by reference to the First Amendment, wh

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. The following exhibit is filed herewith: (d) Exhibits 10.1 First Amendment to Amended and Restated Credit Agreement, dated as of September 17, 2024, among NACCO Natural Resources Corporation, the guarantors party thereto, the lenders party thereto and PNC Bank, National Association, as administrative agent 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. Date: September 19, 2024 NACCO INDUSTRIES, INC. By: /s/ Elizabeth I. Loveman Elizabeth I. Loveman Senior Vice President and Controller

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View this 8-K filing on SEC EDGAR