Ranpak Holdings Corp. Enters Material Definitive Agreement

TL;DR

Ranpak just signed a big deal, creating a new financial obligation. Details inside.

AI Summary

On December 19, 2024, Ranpak Holdings Corp. 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. Specific details regarding the nature of the agreement and the financial obligation are provided within the filing.

Why It Matters

This filing indicates a significant financial commitment or obligation for Ranpak Holdings Corp., which could impact its financial structure and future operations.

Risk Assessment

Risk Level: medium — Entering into new material definitive agreements and financial obligations can introduce financial risks and operational changes that require careful monitoring.

Key Players & Entities

• Ranpak Holdings Corp. (company) — Registrant
• December 19, 2024 (date) — Date of Report and Earliest Event

FAQ

Key Financial Figures

• $0.0001 — tered Class A Common Stock, par value $0.0001 per share PACK New York Stock Exchang
• $410 million — r the Credit Agreement consist of (i) a $410 million U.S. dollar-denominated first lien term
• $50 million — cility (the "Term Facility") and (ii) a $50 million revolving facility available in U.S. do
• $85.0 million — ate amount not to exceed the greater of $85.0 million and 100% of Consolidated Adjusted EBITD

Filing Documents

• dp222355_8k.htm (8-K) — 32KB
• dp222355_ex1001.htm (EX-10.1) — 1752KB
• 0000950103-24-018007.txt ( ) — 2339KB
• pack-20241219.xsd (EX-101.SCH) — 3KB
• pack-20241219_lab.xml (EX-101.LAB) — 33KB
• pack-20241219_pre.xml (EX-101.PRE) — 22KB
• dp222355_8k_htm.xml (XML) — 3KB

01 Entry Into a Material Definitive Agreement

Item 1.01 Entry Into a Material Definitive Agreement. On December 19, 2024 (the "Closing Date"), Ranger Pledgor LLC, a Delaware limited liability company ("Holdings"), Ranpak Corp., an Ohio corporation (the "U.S. Borrower"), Ranpak B.V., a private limited liability company under the laws of the Netherlands (the "Dutch Borrower" and together with the U.S. Borrower, the "Borrowers") completed the previously announced refinancing of the company's existing senior secured credit facilities (the "Refinancing") and entered into new senior secured credit facilities pursuant to that certain First Lien Credit Agreement (the "Credit Agreement") with the lending institutions party thereto and UBS AG, Stamford Branch, as Administrative Agent. UBS Securities LLC, Goldman Sachs Bank USA, Morgan Stanley Senior Funding, Inc. and Wells Fargo Securities, LLC acted as joint lead arrangers and joint bookrunners for the New Credit Facilities described below. The senior secured credit facilities provided under the Credit Agreement consist of (i) a $410 million U.S. dollar-denominated first lien term facility (the "Term Facility") and (ii) a $50 million revolving facility available in U.S. dollars and Euros (the "Revolving Facility", and together with the Term Facility, the "New Credit Facilities"). Proceeds under the New Credit Facilities were used in part to consummate the Refinancing and to pay all fees, premiums, expenses and other transaction costs incurred in connection with the Transactions (as defined in the Credit Agreement) on the Closing Date. The Term Facility matures seven years after the Closing Date and the Revolving Facility expires and matures five years after the Closing Date. As of December 19, 2024, no amounts under the Revolving Facility have been drawn. The amortization rate for the Term Facility is 1.00% per annum and the first quarterly installment shall be payable on or about March 31, 2025. The Term Facility accrues interest, at the Borrowers' option, at eithe

03. Creation of a Direct Financial Obligation

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off–Balance Sheet Arrangement of a Registrant. The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 First Lien Credit Agreement, dated December 19, 2024, among Ranpak Corp., Ranpak B.V., Ranger Pledgor LLC, the lenders and issuing banks from time to time party thereto and UBS AG, Stamford Branch, as administrative agent 104(*) Cover Page Interactive Data File – the cover page XBRL tags are embedded within the Inline XBRL document (*) Furnished herewith

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. RANPAK HOLDINGS CORP. Date: December 19, 2024 By: /s/ William Drew William Drew Senior Vice President and Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR