Power Solutions International Enters Material Agreement
Ticker: PSIX · Form: 8-K · Filed: Sep 6, 2024 · CIK: 1137091
| Field | Detail |
|---|---|
| Company | Power Solutions International, Inc. (PSIX) |
| Form Type | 8-K |
| Filed Date | Sep 6, 2024 |
| Risk Level | medium |
| Pages | 6 |
| Reading Time | 7 min |
| Key Dollar Amounts | $120 million, $100 million, $40 million, $60 million, $30M |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, financial-obligation, regulation-fd
TL;DR
PSI inked a big deal on 8/30, expect financial updates soon.
AI Summary
Power Solutions International, Inc. entered into a Material Definitive Agreement on August 30, 2024, related to a direct financial obligation. The company also made a Regulation FD Disclosure and filed financial statements and exhibits. Specific details of the agreement and financial implications are not fully elaborated in this summary.
Why It Matters
This filing indicates a significant new financial commitment or agreement for Power Solutions International, Inc., which could impact its financial obligations and future operations.
Risk Assessment
Risk Level: medium — The filing indicates a material definitive agreement and financial obligation, which inherently carries some level of risk until further details are disclosed.
Key Players & Entities
- POWER SOLUTIONS INTERNATIONAL, INC. (company) — Registrant
- August 30, 2024 (date) — Date of earliest event reported
- 201 Mittel Drive, Wood Dale, Illinois 60191 (address) — Business Address
FAQ
What is the nature of the Material Definitive Agreement entered into by Power Solutions International, Inc. on August 30, 2024?
The filing states that Power Solutions International, Inc. entered into a Material Definitive Agreement on August 30, 2024, which also constitutes the creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. Specific details of the agreement are not provided in this summary.
What does the Regulation FD Disclosure pertain to?
The filing indicates a Regulation FD Disclosure was made by Power Solutions International, Inc., but the specific content of this disclosure is not detailed in the provided text.
What financial statements and exhibits were filed?
The filing includes 'Financial Statements and Exhibits,' but the specific content of these documents is not elaborated upon in the provided summary.
What is the company's state of incorporation and fiscal year end?
Power Solutions International, Inc. is incorporated in Delaware and its fiscal year ends on December 31.
What is the SEC file number and IRS Employer Identification Number for Power Solutions International, Inc.?
The SEC file number for Power Solutions International, Inc. is 001-35944, and its IRS Employer Identification Number is 33-0963637.
Filing Stats: 1,687 words · 7 min read · ~6 pages · Grade level 14.4 · Accepted 2024-09-06 08:22:32
Key Financial Figures
- $120 million — ment allows the Company to borrow up to $120 million and expires on August 30, 2025. As par
- $100 million — y made an initial draw in the amount of $100 million. The Company utilized the amount drawn
- $40 million — he outstanding balance of approximately $40 million under the Company's credit agreement, d
- $60 million — al outstanding balance of approximately $60 million under certain $30M Second Amended and R
- $30M — approximately $60 million under certain $30M Second Amended and Restated Shareholder
- $25M — ica Corp. ("Weichai"), and that certain $25M Third Amended and Restated Shareholder'
- $50M — tween PSI and Weichai, and that certain $50M Second Amended and Restated Shareholder
- $105 million — hich allows the Company to borrow up to $105 million and expires August 31, 2025. The paymen
- $10 million — is allowed to make a single payment of $10 million to Weichai. As of September 4, 2024, th
- $35 million — der the Shareholder's Loan Agreement is $35 million. The Shareholder's Loan Agreement is s
- $0.001 — f the Company's common stock, par value $0.001 per share (the "Common Stock") on the O
Filing Documents
- d863479d8k.htm (8-K) — 35KB
- d863479dex101.htm (EX-10.1) — 537KB
- d863479dex102.htm (EX-10.2) — 64KB
- d863479dex991.htm (EX-99.1) — 12KB
- g863479g0906011424920.jpg (GRAPHIC) — 13KB
- 0001193125-24-214756.txt ( ) — 933KB
- psix-20240830.xsd (EX-101.SCH) — 2KB
- psix-20240830_lab.xml (EX-101.LAB) — 15KB
- psix-20240830_pre.xml (EX-101.PRE) — 9KB
- d863479d8k_htm.xml (XML) — 3KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d)Exhibits Exhibit No. Description 10.1 Uncommitted Revolving Credit Agreement, dated as of August 30, 2024, among the Company, the lenders party thereto and Standard Chartered Bank, as administrative agent. 10.2 Shareholder's Loan Agreement, dated as of August 30, 2024, between the Company and Weichai America Corp. 99.1 Press release announcing Uncommitted Revolving Credit Agreement and Shareholder's Loan Agreement. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). SIGNATURE 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. Power Solutions International, Inc. Dated: September 6, 2024 By: /s/ Xun Li Xun Li Chief Financial Officer