NAPCO Files 8-K on Material Definitive Agreement
Ticker: NSSC · Form: 8-K · Filed: Feb 13, 2024 · CIK: 69633
| Field | Detail |
|---|---|
| Company | Napco Security Technologies, Inc (NSSC) |
| Form Type | 8-K |
| Filed Date | Feb 13, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01, $11,000,000, $20,000,000 |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: material-agreement, corporate-action
TL;DR
**NAPCO just signed a big deal, watch for details on what it means for the stock!**
AI Summary
NAPCO SECURITY TECHNOLOGIES, INC. filed an 8-K on February 13, 2024, reporting an "Entry into a Material Definitive Agreement" and "Financial Statements and Exhibits" as of February 9, 2024. This filing indicates that NAPCO has entered into a significant new agreement, which could impact its future operations and financial performance. For investors, this matters because material agreements often signal strategic shifts, new partnerships, or significant transactions that can affect revenue, costs, and ultimately, stock valuation.
Why It Matters
This filing signals a new, important agreement for NAPCO, which could significantly influence its business trajectory and financial health, directly impacting shareholder value.
Risk Assessment
Risk Level: medium — The filing indicates a material agreement but lacks specific details, creating uncertainty about its potential positive or negative impact.
Analyst Insight
A smart investor would monitor NAPCO's subsequent filings and press releases for specific details regarding the 'Material Definitive Agreement' to assess its potential impact on the company's financials and strategic direction before making any investment decisions.
Key Players & Entities
- NAPCO SECURITY TECHNOLOGIES, INC. (company) — the registrant filing the 8-K
- February 9, 2024 (date) — date of the earliest event reported
- February 13, 2024 (date) — date the 8-K was filed
- $0.01 (dollar_amount) — par value per share of Common Stock
Forward-Looking Statements
- NAPCO will release further details about the 'Material Definitive Agreement' in a subsequent filing or press release. (NAPCO SECURITY TECHNOLOGIES, INC.) — high confidence, target: 2024-03-15
FAQ
What is the primary purpose of this 8-K filing by NAPCO SECURITY TECHNOLOGIES, INC.?
The primary purpose of this 8-K filing is to report an "Entry into a Material Definitive Agreement" and to include "Financial Statements and Exhibits," with the earliest event reported occurring on February 9, 2024.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on February 9, 2024, as stated under 'Date of Report (Date of earliest event reported)'.
What is the par value of NAPCO SECURITY TECHNOLOGIES, INC.'s Common Stock?
The par value of NAPCO SECURITY TECHNOLOGIES, INC.'s Common Stock is $0.01 per share, as indicated in the 'Securities registered pursuant to Section 12(b) of the Act' section.
What is the business address and phone number of NAPCO SECURITY TECHNOLOGIES, INC.?
NAPCO SECURITY TECHNOLOGIES, INC.'s business address is 333 Bayview Avenue, Amityville, New York 11701, and its telephone number is (631) 842-9400.
Under which SEC Act is this 8-K filed?
This 8-K is filed under the 1934 Act, as specified in the 'FILING VALUES' section.
Filing Stats: 490 words · 2 min read · ~2 pages · Grade level 11.6 · Accepted 2024-02-13 14:55:23
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 per share NSSC Nasdaq Stock Market
- $11,000,000 — he available revolving credit line from $11,000,000 to $20,000,000 and replaces the LIBOR b
- $20,000,000 — volving credit line from $11,000,000 to $20,000,000 and replaces the LIBOR benchmark rate w
Filing Documents
- nssc-20240209x8k.htm (8-K) — 37KB
- nssc-20240209xex4d11.htm (EX-4.11) — 775KB
- 0001558370-24-001041.txt ( ) — 1138KB
- nssc-20240209.xsd (EX-101.SCH) — 3KB
- nssc-20240209_lab.xml (EX-101.LAB) — 1KB
- nssc-20240209_pre.xml (EX-101.PRE) — 10KB
- nssc-20240209x8k_htm.xml (XML) — 5KB
01. Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement. On February 9, 2024 the Registrant and its primary bank, HSBC Bank USA National Association ("HSBC"), agreed to amend and restate the existing Third Amended and Restated Credit Agreement ("Agreement") dated June 29, 2012, as amended, between the Registrant and HSBC with the Fourth Amended and Restated Credit Agreement ("Amended Agreement"). The Amended Agreement extends the term of the Agreement from June 28, 2024 to February 9, 2029. The Amended Agreement also increases the available revolving credit line from $11,000,000 to $20,000,000 and replaces the LIBOR benchmark rate with the SOFR benchmark rate.
01. FINANCIAL STATEMENTS AND EXHIBITS
Item 9.01. FINANCIAL STATEMENTS AND EXHIBITS (d) Exhibits: 4.11 Fourth Amended and Restated Credit Agreement dated as of February 9, 2024. 10 4 Cover Page Interactive Data File (formatted as Inline XBRL). SIGNATURE 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 thereunder duly authorized. NAPCO SECURITY TECHNOLOGIES, INC. (Registrant) Date: February 13, 2024 By: /s/ Kevin S. Buchel Kevin S. Buchel Executive Vice President and Chief Financial Officer