Nextracker Inc. Enters Material Definitive Agreement
Ticker: NXT · Form: 8-K · Filed: Jun 21, 2024 · CIK: 1852131
Sentiment: neutral
Topics: material-definitive-agreement, financial-obligation
TL;DR
Nextracker just signed a big deal, creating a new financial obligation. Details in the filing.
AI Summary
On June 21, 2024, Nextracker Inc. entered into a material definitive agreement related to a direct financial obligation. The filing details the creation of this obligation under an off-balance sheet arrangement, with further information provided in the accompanying financial statements and exhibits.
Why It Matters
This filing indicates a significant financial commitment or obligation for Nextracker Inc., which could impact its financial structure and future operations.
Risk Assessment
Risk Level: medium — The creation of a new material definitive agreement and financial obligation introduces potential risks related to the terms, execution, and impact on the company's financial health.
Key Players & Entities
- Nextracker Inc. (company) — Registrant
- June 21, 2024 (date) — Date of earliest event reported
- Delaware (jurisdiction) — State of incorporation
- 001-41617 (company_id) — Commission File Number
- 6200 Paseo Padre Parkway (address) — Business address
- Fremont (city) — Business address city
- California (state) — Business address state
FAQ
What type of material definitive agreement did Nextracker Inc. enter into?
The filing states that Nextracker Inc. entered into a material definitive agreement related to the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing was on June 21, 2024.
What is Nextracker Inc.'s state of incorporation?
Nextracker Inc. is incorporated in Delaware.
What is Nextracker Inc.'s Commission File Number?
Nextracker Inc.'s Commission File Number is 001-41617.
Where is Nextracker Inc.'s principal executive office located?
Nextracker Inc.'s principal executive office is located at 6200 Paseo Padre Parkway, Fremont, California.
Filing Stats: 657 words · 3 min read · ~2 pages · Grade level 11.1 · Accepted 2024-06-21 09:02:21
Key Financial Figures
- $0.0001 — tered Class A Common Stock, par value $0.0001 NXT The Nasdaq Stock Market LLC I
- $500.0 million — he aggregate revolving commitments from $500.0 million to $1.0 billion; (ii) provide for a $1.
- $1.0 billion — ving commitments from $500.0 million to $1.0 billion; (ii) provide for a $1.0 billion secure
- $300.0 million — ease the letter of credit capacity from $300.0 million to $500.0 million; and (iv) update vari
Filing Documents
- dp213052_8k.htm (8-K) — 24KB
- dp213052_ex1001.htm (EX-10.1) — 1435KB
- image_001.gif (GRAPHIC) — 2KB
- 0000950103-24-008617.txt ( ) — 1927KB
- nxt-20240621.xsd (EX-101.SCH) — 3KB
- nxt-20240621_lab.xml (EX-101.LAB) — 33KB
- nxt-20240621_pre.xml (EX-101.PRE) — 22KB
- dp213052_8k_htm.xml (XML) — 3KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. On June 21, 2024, Nextracker Inc. (the " Company ") and Nextracker LLC (the " Borrower ") entered into an amendment to the Credit Agreement (the " Amendment "), which amended the Credit Agreement, dated as of February 13, 2023 (as amended from time to time, the " Credit Agreement "), by and among the Company, the Borrower, the other holding entities party thereto, the lenders party thereto and JPMorgan Chase Bank, N.A., as the administrative agent. The Amendment amended the Credit Agreement to, among other things: (i) increase the aggregate revolving commitments from $500.0 million to $1.0 billion; (ii) provide for a $1.0 billion secured debt basket for surety bonds; (iii) increase the letter of credit capacity from $300.0 million to $500.0 million; and (iv) update various covenants, baskets and thresholds to provide more financing capacity and operational flexibility to the Company and the Borrower. Subject to the satisfaction of certain conditions, the Borrower may be permitted to request incremental term loan facilities under the credit facility from one or more lenders. As of June 21, 2024, no amounts were drawn under the revolving facility. The foregoing summary of the Amendment is qualified in its entirety by reference to the Amendment, which is attached to this Current Report on Form 8-K as Exhibit 10.1 and is incorporated herein by reference.
03 Creation
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information in Item 1.01 is incorporated by reference herein.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 Amendment No. 2 dated June 21, 2024 to the Credit Agreement, dated as of February 13, 2023, by and among Nextracker Inc., as Parent, Nextracker LLC, as Borrower, and the other parties thereto 104 Cover Page Interactive Data (embedded within the Inline XBRL document) 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. Nextracker Inc. By: Lah Schlesinger Lah Schlesinger General Counsel, Chief Ethics and Compliance Officer Date: June 21, 2024