Enviri Corp Files 8-K for Material Definitive Agreement
Ticker: NVRI · Form: 8-K · Filed: Sep 10, 2024 · CIK: 45876
Sentiment: neutral
Topics: material-definitive-agreement, corporate-filing
TL;DR
ENVIRI signed a big deal, filing 8-K today.
AI Summary
On September 5, 2024, Enviri Corporation entered into a material definitive agreement. The filing also includes financial statements and exhibits related to this agreement. The company, formerly known as Harsco Corp, is incorporated in Delaware and headquartered in Philadelphia, Pennsylvania.
Why It Matters
This filing indicates a significant new contract or partnership for Enviri Corp, which could impact its future revenue and operations.
Risk Assessment
Risk Level: medium — Material definitive agreements can introduce new risks and opportunities, the specifics of which are not detailed in this initial filing.
Key Numbers
- 001-03970 — SEC File Number (Identifies the company's filings with the SEC)
- 23-1483991 — IRS Employer Identification No. (Company's tax identification number)
Key Players & Entities
- Enviri Corporation (company) — Filer
- Harsco Corp (company) — Former company name
- September 5, 2024 (date) — Date of earliest event reported
- Delaware (jurisdiction) — State of incorporation
- Philadelphia, Pennsylvania (location) — Principal executive offices location
FAQ
What is the nature of the material definitive agreement entered into by Enviri Corporation?
The filing does not specify the details of the material definitive agreement, only that one was entered into on September 5, 2024.
When was the earliest event reported in this 8-K filing?
The earliest event reported was on September 5, 2024.
What was Enviri Corporation's former name?
Enviri Corporation was formerly known as Harsco Corp.
Where are Enviri Corporation's principal executive offices located?
Enviri Corporation's principal executive offices are located in Philadelphia, Pennsylvania.
What is the company's state of incorporation?
The company is incorporated in Delaware.
Filing Stats: 844 words · 3 min read · ~3 pages · Grade level 11.3 · Accepted 2024-09-10 16:22:50
Key Financial Figures
- $1.25 — ich registered Common Stock, par value $1.25 per share NVRI New York Stock Exchange
- $625,000,000 — ility") in an aggregate amount equal to $625,000,000, which mature on September 5, 2029, sub
- $50,000,000 — nced. In addition, the Company retained $50,000,000 of its existing revolving credit commit
Filing Documents
- hsc-20240905.htm (8-K) — 37KB
- exhibit101amendmentno14tot.htm (EX-10.1) — 157KB
- 0000045876-24-000052.txt ( ) — 339KB
- hsc-20240905.xsd (EX-101.SCH) — 2KB
- hsc-20240905_lab.xml (EX-101.LAB) — 22KB
- hsc-20240905_pre.xml (EX-101.PRE) — 13KB
- hsc-20240905_htm.xml (XML) — 3KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. On September 5, 2024 (the "Closing Date"), Enviri Corporation (the "Company") entered into Amendment No. 14 to Third Amended and Restated Credit Agreement ("Amendment No. 14"), which amends the Company's Third Amended and Restated Credit Agreement, dated as of November 2, 2016, as amended, supplemented or otherwise modified, including pursuant to Amendment No. 14 (the "Senior Secured Credit Facility"), by and among the Company, Bank of America, N.A., as administrative agent and as collateral agent, the lenders party thereto, and the other parties thereto. In connection with Amendment No. 14, the Company obtained new revolving credit commitments (the "New Revolving Facility") in an aggregate amount equal to $625,000,000, which mature on September 5, 2029, subject to a springing earlier maturity if certain indebtedness is not repaid or refinanced. In addition, the Company retained $50,000,000 of its existing revolving credit commitments (the "Existing Revolving Facility"), which mature on March 10, 2026. In addition, among other things, Amendment No. 14 modified the total net leverage ratio covenant and the interest rate margins. After giving effect to Amendment No. 14: (i) the New Revolving Facility bears interest at a rate, depending on total net leverage, ranging from 75 to 125 basis points over base rate or 175 to 225 basis points over the secured overnight financing rate ("SOFR") and (ii) the Existing Revolving Facility bears interest at a rate, depending on total net leverage, ranging from 50 to 175 basis points over base rate or 150 to 275 basis points over SOFR, in each case, subject to a zero floor. After giving effect to Amendment No. 14, the Company's total net leverage is capped at 5.00x of consolidated adjusted earnings before interest, tax, depreciation and amortization and will step down to 4.75x beginning September 30, 2024, to 4.50x beginning June 30, 2025, to 4.25x beginning December 31, 2025,
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 Amendment No. 14 to Third Amended and Restated Credit Agreement, dated as of September 5, 2024, among Enviri Corporation, the Subsidiary Guarantors party thereto, Bank of America, N.A., as administrative agent, and the lenders party thereto. 104 Cover Page Interactive Data File (formatted as inline XBRL). Schedules and similar attachments have been omitted pursuant to Item 601(a)(5) of Regulation S-K. The Company will furnish copies of any such schedules and attachments to the Securities and Exchange Commission upon request. 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 hereunto duly authorized. ENVIRI CORPORATION Date: September 10, 2024 /s/ Russell C. Hochman Russell C. Hochman Senior Vice President and General Counsel, Chief Compliance Officer & Corporate Secretary