Dave & Buster's Enters New Agreement, Terminates Old One

TL;DR

Dave & Buster's just signed a new deal and ditched an old one, creating new financial obligations.

AI Summary

On November 1, 2024, Dave & Buster's Entertainment, Inc. entered into a material definitive agreement and simultaneously terminated a prior material definitive agreement. This action also created a direct financial obligation for the registrant. The specific details of these agreements and the resulting financial obligations are not fully disclosed in this filing.

Why It Matters

This filing indicates a significant change in Dave & Buster's contractual and financial obligations, which could impact its future operations and financial health.

Risk Assessment

Risk Level: medium — The entry into a new material definitive agreement and termination of another, along with the creation of a direct financial obligation, suggests potential shifts in the company's strategic or financial arrangements that warrant closer examination.

Key Players & Entities

• Dave & Buster's Entertainment, Inc. (company) — Registrant
• November 1, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 par value PLAY NASDAQ Stock Market
• $700,000,000 — ans in an aggregate principal amount of $700,000,000 (the "2024 Incremental Term B Loans") a
• $650,000,000 — ity in an aggregate principal amount of $650,000,000, which is made up of $500,000,000 of re
• $500,000,000 — nt of $650,000,000, which is made up of $500,000,000 of replacement revolving commitments (t
• $150,000,000 — Replacement Revolving Commitments") and $150,000,000 of incremental revolving commitments (t
• $200,000,000 — e "Notes") and (ii) repay approximately $200,000,000 of the term loans outstanding under the

Filing Documents

• tm2427069d1_8k.htm (8-K) — 34KB
• tm2427069d1_ex10-1.htm (EX-10.1) — 1580KB
• 0001104659-24-113628.txt ( ) — 2122KB
• play-20241101.xsd (EX-101.SCH) — 3KB
• play-20241101_lab.xml (EX-101.LAB) — 33KB
• play-20241101_pre.xml (EX-101.PRE) — 22KB
• tm2427069d1_8k_htm.xml (XML) — 4KB

01

Item 1.01. Entry into a Material Definitive Agreement. On November 1, 2024 (the "Amendment Effective Date"), Dave & Buster's, Inc. (the "Borrower"), a wholly owned subsidiary of Dave & Buster's Entertainment, Inc. (the "Company"), Dave & Buster's Holdings, Inc. ("Holdings"), as parent guarantor, the additional borrowers party thereto, the subsidiary guarantors party thereto, the lenders party thereto and Deutsche Bank AG New York Branch, as administrative agent and collateral agent (the "Agent") entered into the Fourth Amendment to Credit Agreement (the "Amendment"), which amended that certain Credit Agreement, dated June 29, 2022 (the "Credit Agreement" and the Credit Agreement, as amended by the First Amendment to Credit Agreement, dated as of June 30, 2023, the Second Amendment to Credit Agreement, dated as of January 19, 2024, the Third Amendment to Credit Agreement and Joinder Agreement, dated as of January 31, 2024 and as further amended by the Amendment, the "Amended Credit Agreement"), by and among the Borrower, Holdings, the additional borrowers party thereto, the subsidiary guarantors party thereto, the lenders party thereto and the Agent. The Amendment, among other things, provides for (i) a new tranche of term loans in an aggregate principal amount of $700,000,000 (the "2024 Incremental Term B Loans") and (ii) an upsized and extended revolving credit facility in an aggregate principal amount of $650,000,000, which is made up of $500,000,000 of replacement revolving commitments (the "2024 Replacement Revolving Commitments") and $150,000,000 of incremental revolving commitments (the "2024 Incremental Revolving Commitments and, together with the 2024 Replacement Revolving Commitments, the "2024 Revolving Facility Commitments"), which form a single revolving credit facility under the Amended Credit Agreement in an aggregate principal amount of $650,000,000. The proceeds of the 2024 Incremental Term B Loans will be used to (i) redeem in full the Borrower

02

Item 1.02. Termination of a Material Definitive Agreement. On November 1, 2024, in connection with the closing of the 2024 Incremental Term B Loans and pursuant to a notice of redemption delivered on October 1, 2024, the Borrower redeemed all of the outstanding Notes at a redemption price of 100.000% of the principal amount thereof, plus accrued and unpaid interest (the "Redemption"), in accordance with that certain Indenture, dated as of October 27, 2020 (the "Indenture"), among the Borrower, the guarantors from time to time party thereto (the "Guarantors") and U.S. Bank Trust Company, National Association (as successor in interest to U.S. Bank National Association), as trustee and collateral agent. In connection with the Redemption, the Borrower satisfied and discharged the Indenture in accordance with its terms and, as a result, the Borrower and the Guarantors have been released from their remaining obligations under the Indenture. This Current Report on Form 8-K is not an offer to buy, or a notice of redemption with respect to, the Notes or any other securities.

03

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 above is incorporated into this Item 2.03 by reference.

Financial Statements and Exhibits

Financial Statements and Exhibits . (d) Exhibits. Exhibit No. Description 10.1* Fourth Amendment to Credit Agreement, dated as of November 1, 2024, by and among Dave & Buster's, Inc., Dave & Buster's Holdings, Inc., the additional borrowers party thereto, the subsidiary guarantors party thereto, the lenders party thereto, and Deutsche Bank AG New York Branch. 104 The cover page from this Current Report on Form 8-K, formatted in Inline XBRL. * Certain annexes, schedules and exhibits have been omitted pursuant to Item 601(a)(5) of Regulation S-K. The Company undertakes to furnish supplemental copies of any of the omitted annexes, schedules and exhibits to the Securities and Exchange Commission upon its request.

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. Date: November 4, 2024 DAVE & BUSTER'S ENTERTAINMENT, INC. By: /s/ Bryan McCrory Bryan McCrory Vice President, General Counsel and Secretary

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View this 8-K filing on SEC EDGAR