Orion Energy Systems Enters Material Agreement
Ticker: OESX · Form: 8-K · Filed: Oct 31, 2024 · CIK: 1409375
| Field | Detail |
|---|---|
| Company | Orion Energy Systems, Inc. (OESX) |
| Form Type | 8-K |
| Filed Date | Oct 31, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, financial-obligation
TL;DR
Orion Energy Systems just signed a big deal with financial obligations.
AI Summary
Orion Energy Systems, Inc. entered into a material definitive agreement on October 30, 2024. This agreement creates a direct financial obligation for the registrant. The filing also includes financial statements and exhibits related to this event.
Why It Matters
This filing indicates a significant new financial commitment or obligation for Orion Energy Systems, which could impact its financial health and future operations.
Risk Assessment
Risk Level: medium — Entering into material definitive agreements and financial obligations can introduce new risks related to performance, repayment, or market conditions.
Key Players & Entities
- ORION ENERGY SYSTEMS, INC. (company) — Registrant
- October 30, 2024 (date) — Date of earliest event reported
FAQ
What is the nature of the material definitive agreement entered into by Orion Energy Systems?
The filing states that Orion Energy Systems, Inc. entered into a material definitive agreement on October 30, 2024, which creates a direct financial obligation for the registrant. Specific details of the agreement are not provided in this summary.
What type of financial obligation does the agreement create?
The agreement creates a direct financial obligation for Orion Energy Systems, Inc. The exact nature and amount of this obligation are not detailed in the provided text.
When was this material definitive agreement reported?
The earliest event reported in this 8-K filing occurred on October 30, 2024.
What other information is included in this 8-K filing?
In addition to the entry into a material definitive agreement and the creation of a financial obligation, the filing also includes financial statements and exhibits.
Where is Orion Energy Systems, Inc. headquartered?
Orion Energy Systems, Inc. is headquartered at 2210 Woodland Drive, Manitowoc, Wisconsin, 54220.
Filing Stats: 558 words · 2 min read · ~2 pages · Grade level 9.8 · Accepted 2024-10-31 07:02:02
Filing Documents
- oesx-20241030.htm (8-K) — 40KB
- oesx-ex10_1.htm (EX-10.1) — 82KB
- 0000950170-24-119241.txt ( ) — 241KB
- oesx-20241030.xsd (EX-101.SCH) — 23KB
- oesx-20241030_htm.xml (XML) — 4KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. Effective October 30, 2024, Orion Energy Systems, Inc. (the "Company"), with Bank of America, N.A. as lender, executed Amendment No. 3 ("Amendment No. 3") to its Loan and Security Agreement dated December 29, 2020, and as previously amended on November 4, 2022 and April 22, 2024 (the "LSA"). The primary purpose of Amendment No. 3 was to extend the maturity date of the Revolving Credit Line and the Term Loan from December 29, 2025 to June 30, 2027. The foregoing description of Amendment No. 3 and the LSA as amended by Amendment No. 3 is qualified in its entirety by reference to the full text of Amendment No. 3, which is filed as Exhibit 10.1 hereto and incorporated herein by reference. Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information disclosed above under Item 1.01 is incorporated herein by reference.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. Exhibit 10.1 Amendment No. 3 to Loan and Security Agreement, dated effective as of October 30, 2024, among Orion Energy Systems, Inc., Bank of America, N.A., as lender, and the subsidiary borrowers party thereto. Exhibit 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. ORION ENERGY SYSTEMS, INC. Date: October 31, 2024 By: /s/ J. Per Brodin J. Per Brodin Chief Financial Officer